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91_HB1202eng HB1202 Engrossed LRB9103241PTpkA 1 AN ACT to amend the Illinois Development Finance 2 Authority Act by changing Sections 7.56a and 8. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Illinois Development Finance Authority 6 Act is amended by changing Sections 7.56a and 8 as follows: 7 (20 ILCS 3505/7.56a) (from Ch. 48, par. 850.07z12a) 8 Sec. 7.56a. Infrastructure Bond Authorization Limits. 9 In addition to the bonds authorized to be issued under 10 Sections 7.8 and 8, the Authority may have outstanding at any 11 time, bonds for the purposes enumerated in Sections 7.50 12 through 7.61 in an aggregate principal amount that shall not 13 exceed $2,000,000,000$1,000,000,000. 14 Such bonds shall not constitute an indebtedness or 15 obligation of the State of Illinois and it shall be plainly 16 stated on the face of each bond that it does not constitute 17 such an indebtedness or obligation but is payable solely from 18 the revenues, income or other assets of the Authority pledged 19 therefor. 20 (Source: P.A. 90-470, eff. 8-17-97.) 21 (20 ILCS 3505/8) (from Ch. 48, par. 850.08) 22 Sec. 8. Outstanding bond authorization limits. Exclusive 23 of the bonds authorized to be issued under Section 7.8, 24 Section 7.87, or under the Illinois Environmental Facilities 25 Financing Act, and exclusive of the authorization under 26 Section 7.56a of this Act, the Authority may not have 27 outstanding at any one time bonds for any of its corporate 28 purposes in an aggregate principal amount exceeding 29 $5,400,000,000$4,400,000,000, excluding bonds issued to 30 refund outstanding bonds. Up to $100,000,000 of such HB1202 Engrossed -2- LRB9103241PTpkA 1 outstanding bonds shall be issued with respect to industrial 2 projects located within areas designated as Enterprise Zones 3 by the Department of Commerce and Community Affairs. 4 (Source: P.A. 89-460, eff. 5-24-96; 90-470, eff. 8-17-97.) 5 Section 99. Effective date. This Act takes effect upon 6 becoming law.