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92_SB2340
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1 AN ACT to amend the Build Illinois Bond Act.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Build Illinois Bond Act is amended by
5 changing Sections 2 and 4 as follows:
6 (30 ILCS 425/2) (from Ch. 127, par. 2802)
7 Sec. 2. Authorization for Bonds. The State of Illinois
8 is authorized to issue, sell and provide for the retirement
9 of limited obligation bonds, notes and other evidences of
10 indebtedness of the State of Illinois in the total principal
11 amount of $3,685,715,000 $3,540,715,000 herein called
12 "Bonds". Such authorized amount of Bonds shall be reduced
13 from time to time by amounts, if any, which are equal to the
14 moneys received by the Department of Revenue in any fiscal
15 year pursuant to Section 3-1001 of the "Illinois Vehicle
16 Code", as amended, in excess of the Annual Specified Amount
17 (as defined in Section 3 of the "Retailers' Occupation Tax
18 Act", as amended) and transferred at the end of such fiscal
19 year from the General Revenue Fund to the Build Illinois
20 Purposes Fund as provided in Section 3-1001 of said Code;
21 provided, however, that no such reduction shall affect the
22 validity or enforceability of any Bonds issued prior to such
23 reduction. Such amount of authorized Bonds shall be
24 exclusive of any refunding Bonds issued pursuant to Section
25 15 of this Act and exclusive of any Bonds issued pursuant to
26 this Section which are redeemed, purchased, advance refunded,
27 or defeased in accordance with paragraph (f) of Section 4 of
28 this Act. Bonds shall be issued for the categories and
29 specific purposes expressed in Section 4 of this Act.
30 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99;
31 91-709, eff. 5-17-00; 92-9, eff. 6-11-01.)
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1 (30 ILCS 425/4) (from Ch. 127, par. 2804)
2 Sec. 4. Purposes of Bonds. Bonds shall be issued for the
3 following purposes and in the approximate amounts as set
4 forth below:
5 (a) $2,432,454,000 $2,399,954,000 for the expenses of
6 issuance and sale of Bonds, including bond discounts, and for
7 planning, engineering, acquisition, construction,
8 reconstruction, development, improvement and extension of the
9 public infrastructure in the State of Illinois, including:
10 the making of loans or grants to local governments for waste
11 disposal systems, water and sewer line extensions and water
12 distribution and purification facilities, rail or air or
13 water port improvements, gas and electric utility extensions,
14 publicly owned industrial and commercial sites, buildings
15 used for public administration purposes and other public
16 infrastructure capital improvements; the making of loans or
17 grants to units of local government for financing and
18 construction of wastewater facilities; refinancing or
19 retiring bonds issued between January 1, 1987 and January 1,
20 1990 by home rule municipalities, debt service on which is
21 provided from a tax imposed by home rule municipalities prior
22 to January 1, 1990 on the sale of food and drugs pursuant to
23 Section 8-11-1 of the Home Rule Municipal Retailers'
24 Occupation Tax Act or Section 8-11-5 of the Home Rule
25 Municipal Service Occupation Tax Act; the making of deposits
26 not to exceed $70,000,000 in the aggregate into the Water
27 Pollution Control Revolving Fund to provide assistance in
28 accordance with the provisions of Title IV-A of the
29 Environmental Protection Act; the planning, engineering,
30 acquisition, construction, reconstruction, alteration,
31 expansion, extension and improvement of highways, bridges,
32 structures separating highways and railroads, rest areas,
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1 interchanges, access roads to and from any State or local
2 highway and other transportation improvement projects which
3 are related to economic development activities; the making of
4 loans or grants for planning, engineering, rehabilitation,
5 improvement or construction of rail and transit facilities;
6 the planning, engineering, acquisition, construction,
7 reconstruction and improvement of watershed, drainage, flood
8 control, recreation and related improvements and facilities,
9 including expenses related to land and easement acquisition,
10 relocation, control structures, channel work and clearing and
11 appurtenant work; the making of grants for improvement and
12 development of zoos and park district field houses and
13 related structures; and the making of grants for improvement
14 and development of Navy Pier and related structures.
15 (b) $186,301,500 $139,301,500 for fostering economic
16 development and increased employment and the well being of
17 the citizens of Illinois, including: the making of grants for
18 improvement and development of McCormick Place and related
19 structures; the planning and construction of a
20 microelectronics research center, including the planning,
21 engineering, construction, improvement, renovation and
22 acquisition of buildings, equipment and related utility
23 support systems; the making of loans to businesses and
24 investments in small businesses; acquiring real properties
25 for industrial or commercial site development; acquiring,
26 rehabilitating and reconveying industrial and commercial
27 properties for the purpose of expanding employment and
28 encouraging private and other public sector investment in the
29 economy of Illinois; the payment of expenses associated with
30 siting the Superconducting Super Collider Particle
31 Accelerator in Illinois and with its acquisition,
32 construction, maintenance, operation, promotion and support;
33 the making of loans for the planning, engineering,
34 acquisition, construction, improvement and conversion of
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1 facilities and equipment which will foster the use of
2 Illinois coal; the payment of expenses associated with the
3 promotion, establishment, acquisition and operation of small
4 business incubator facilities and agribusiness research
5 facilities, including the lease, purchase, renovation,
6 planning, engineering, construction and maintenance of
7 buildings, utility support systems and equipment designated
8 for such purposes and the establishment and maintenance of
9 centralized support services within such facilities; and the
10 making of grants or loans to units of local government for
11 Urban Development Action Grant and Housing Partnership
12 programs.
13 (c) $916,808,600 $851,308,600 for the development and
14 improvement of educational, scientific, technical and
15 vocational programs and facilities and the expansion of
16 health and human services for all citizens of Illinois,
17 including: the making of construction and improvement grants
18 and loans to public libraries and library systems; the making
19 of grants and loans for planning, engineering, acquisition
20 and construction of a new State central library in
21 Springfield; the planning, engineering, acquisition and
22 construction of an animal and dairy sciences facility; the
23 planning, engineering, acquisition and construction of a
24 campus and all related buildings, facilities, equipment and
25 materials for Richland Community College; the acquisition,
26 rehabilitation and installation of equipment and materials
27 for scientific and historical surveys; the making of grants
28 or loans for distribution to eligible vocational education
29 instructional programs for the upgrading of vocational
30 education programs, school shops and laboratories, including
31 the acquisition, rehabilitation and installation of technical
32 equipment and materials; the making of grants or loans for
33 distribution to eligible local educational agencies for the
34 upgrading of math and science instructional programs,
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1 including the acquisition of instructional equipment and
2 materials; miscellaneous capital improvements for
3 universities and community colleges including the planning,
4 engineering, construction, reconstruction, remodeling,
5 improvement, repair and installation of capital facilities
6 and costs of planning, supplies, equipment, materials,
7 services, and all other required expenses; the making of
8 grants or loans for repair, renovation and miscellaneous
9 capital improvements for privately operated colleges and
10 universities and community colleges, including the planning,
11 engineering, acquisition, construction, reconstruction,
12 remodeling, improvement, repair and installation of capital
13 facilities and costs of planning, supplies, equipment,
14 materials, services, and all other required expenses; and the
15 making of grants or loans for distribution to local
16 governments for hospital and other health care facilities
17 including the planning, engineering, acquisition,
18 construction, reconstruction, remodeling, improvement, repair
19 and installation of capital facilities and costs of planning,
20 supplies, equipment, materials, services and all other
21 required expenses.
22 (d) $150,150,900 for protection, preservation,
23 restoration and conservation of environmental and natural
24 resources, including: the making of grants to soil and water
25 conservation districts for the planning and implementation of
26 conservation practices and for funding contracts with the
27 Soil Conservation Service for watershed planning; the making
28 of grants to units of local government for the capital
29 development and improvement of recreation areas, including
30 planning and engineering costs, sewer projects, including
31 planning and engineering costs and water projects, including
32 planning and engineering costs, and for the acquisition of
33 open space lands, including the acquisition of easements and
34 other property interests of less than fee simple ownership;
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1 the acquisition and related costs and development and
2 management of natural heritage lands, including natural areas
3 and areas providing habitat for endangered species and
4 nongame wildlife, and buffer area lands; the acquisition and
5 related costs and development and management of habitat
6 lands, including forest, wildlife habitat and wetlands; and
7 the removal and disposition of hazardous substances,
8 including the cost of project management, equipment,
9 laboratory analysis, and contractual services necessary for
10 preventative and corrective actions related to the
11 preservation, restoration and conservation of the
12 environment, including deposits not to exceed $60,000,000 in
13 the aggregate into the Hazardous Waste Fund and the
14 Brownfields Redevelopment Fund for improvements in accordance
15 with the provisions of Titles V and XVII of the Environmental
16 Protection Act.
17 (e) The amount specified in paragraph (a) above shall
18 include an amount necessary to pay reasonable expenses of
19 each issuance and sale of the Bonds, as specified in the
20 related Bond Sale Order (hereinafter defined).
21 (f) Any unexpended proceeds from any sale of Bonds which
22 are held in the Build Illinois Bond Fund may be used to
23 redeem, purchase, advance refund, or defease any Bonds
24 outstanding.
25 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99;
26 91-709, eff. 5-17-00; 92-9, eff. 6-11-01.)
27 Section 99. Effective date. This Act takes effect upon
28 becoming law.