98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB1465
 
Introduced , by Rep. Christian L Mitchell
 
SYNOPSIS AS INTRODUCED:



30 ILCS 346/15

 Amends the Private Activity Bond Approval Act. Prohibits the exercise of home rule powers in a manner inconsistent with the Act. Effective immediately.



LRB098 08883 HLH 39014 b


 
 
A BILL FOR
 


HB1465LRB098 08883 HLH 39014 b



1 AN ACT concerning finance.


2 Be it enacted by the People of the State of Illinois,

3represented in the General Assembly:



4 Section 5. The Private Activity Bond Approval Act is 
5amended by changing Section 15 as follows:

6 (30 ILCS 346/15)

7 Sec. 15. Qualifications for facility requiring host 
8approval.
9 (a) Host approval shall not be granted unless and until the 
10Governor has received the items and information listed in 
11subsection (b) of this Section and has issued an approval as 
12set forth in subsection (c) of this Section.
13 (b) The following items and information must be received by 
14the Governor:
15  (1) a copy of the notice of public hearing pertaining 
16 to the facilities;
17  (2) minutes or another official record of the public 
18 hearing;
19  (3) the maximum stated principal amount of the bonds;
20  (4) a description of the facility, including its 
21 location;
22  (5) a description of the plan of finance;
23  (6) the name of the issuer of the bonds; and
 
 
HB1465- 2 -LRB098 08883 HLH 39014 b


1  (7) the name of the initial owner or principal user of 
2 the facility.
3 (c) If, and only if, the Governor determines that the 
4facility and the items and information submitted under 
5subsection (b) of this Section are consistent with the laws and 
6public policy of the State and are in the best interest of the 
7State, then the Governor shall issue a written approval under 
8this Section authorizing the governmental unit to grant its 
9host approval in its discretion.

10 (d) A home rule unit may not exercise its home rule powers 
11and functions in a manner that is inconsistent with this Act. 
12This subsection is a limitation under subsection (i) of Section 
136 of Article VII of the Illinois Constitution on the concurrent 
14exercise by home rule units of powers and functions exercised 
15by the State. 
16(Source: P.A. 96-1493, eff. 1-1-11.)


17 Section 99. Effective date. This Act takes effect upon 
18becoming law.