Bill Text: IL HB4073 | 2017-2018 | 100th General Assembly | Introduced

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Bill Title: Amends the General Obligation Bond Act. Increases the authorization for bonds issued by the State of Illinois under the Act by $1,500,000,000, from $49,917,925,743 to $51,417,925,743, for use for certain transportation purposes statewide. Amends the Build Illinois Bond Act. Increases the authorization for bonds issued by the State of Illinois by $900,000,000, from $6,246,009,000 to $7,146,009,000, for mass transit facilities, including rapid transit, rail, and other equipment. Effective July 1, 2017.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Failed) 2019-01-08 - Session Sine Die [HB4073 Detail]

Download: Illinois-2017-HB4073-Introduced.html

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100TH GENERAL ASSEMBLY State of Illinois 2017 and 2018 HB4073 Introduced , by Rep. Jay Hoffman SYNOPSIS AS INTRODUCED:
30 ILCS 330/2 from Ch. 127, par. 652
30 ILCS 330/4 from Ch. 127, par. 654
30 ILCS 425/2 from Ch. 127, par. 2802
30 ILCS 425/4 from Ch. 127, par. 2804
Amends the General Obligation Bond Act. Increases the authorization for bonds issued by the State of Illinois under the Act by $1,500,000,000, from $49,917,925,743 to $51,417,925,743, for use for certain transportation purposes statewide. Amends the Build Illinois Bond Act. Increases the authorization for bonds issued by the State of Illinois by $900,000,000, from $6,246,009,000 to $7,146,009,000, for mass transit facilities, including rapid transit, rail, and other equipment. Effective July 1, 2017.
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STATE DEBT IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB4073 LRB100 13270 AXK 27720 b
AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The General Obligation Bond Act is amended by
changing Sections 2 and 4 as follows:
(30 ILCS 330/2) (from Ch. 127, par. 652)
Sec. 2. Authorization for Bonds. The State of Illinois is
authorized to issue, sell and provide for the retirement of
General Obligation Bonds of the State of Illinois for the
categories and specific purposes expressed in Sections 2
through 8 of this Act, in the total amount of $51,417,925,743
$49,917,925,743.
The bonds authorized in this Section 2 and in Section 16 of
this Act are herein called "Bonds".
Of the total amount of Bonds authorized in this Act, up to
$2,200,000,000 in aggregate original principal amount may be
issued and sold in accordance with the Baccalaureate Savings
Act in the form of General Obligation College Savings Bonds.
Of the total amount of Bonds authorized in this Act, up to
$300,000,000 in aggregate original principal amount may be
issued and sold in accordance with the Retirement Savings Act
in the form of General Obligation Retirement Savings Bonds.
Of the total amount of Bonds authorized in this Act, the

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additional $10,000,000,000 authorized by Public Act 93-2, the
$3,466,000,000 authorized by Public Act 96-43, and the
$4,096,348,300 authorized by Public Act 96-1497 shall be used
solely as provided in Section 7.2.
The issuance and sale of Bonds pursuant to the General
Obligation Bond Act is an economical and efficient method of
financing the long-term capital needs of the State. This Act
will permit the issuance of a multi-purpose General Obligation
Bond with uniform terms and features. This will not only lower
the cost of registration but also reduce the overall cost of
issuing debt by improving the marketability of Illinois General
Obligation Bonds.
(Source: P.A. 97-333, eff. 8-12-11; 97-771, eff. 7-10-12;
97-813, eff. 7-13-12; 98-94, eff. 7-17-13; 98-463, eff.
8-16-13; 98-781, eff. 7-22-14.)
(30 ILCS 330/4) (from Ch. 127, par. 654)
Sec. 4. Transportation. The amount of $17,448,199,000
$15,948,199,000 is authorized for use by the Department of
Transportation for the specific purpose of promoting and
assuring rapid, efficient, and safe highway, air and mass
transportation for the inhabitants of the State by providing
monies, including the making of grants and loans, for the
acquisition, construction, reconstruction, extension and
improvement of the following transportation facilities and
equipment, and for the acquisition of real property and

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interests in real property required or expected to be required
in connection therewith as follows:
(a) $6,932,129,000 $5,432,129,000 for State highways,
arterial highways, freeways, roads, bridges, structures
separating highways and railroads and roads, and bridges on
roads maintained by counties, municipalities, townships or
road districts for the following specific purposes:
(1) $4,830,000,000 $3,330,000,000 for use statewide,
(2) $3,677,000 for use outside the Chicago urbanized
area,
(3) $7,543,000 for use within the Chicago urbanized
area,
(4) $13,060,600 for use within the City of Chicago,
(5) $58,987,500 for use within the counties of Cook,
DuPage, Kane, Lake, McHenry and Will,
(6) $18,860,900 for use outside the counties of Cook,
DuPage, Kane, Lake, McHenry and Will, and
(7) $2,000,000,000 for use on projects included in
either (i) the FY09-14 Proposed Highway Improvement
Program as published by the Illinois Department of
Transportation in May 2008 or (ii) the FY10-15 Proposed
Highway Improvement Program to be published by the Illinois
Department of Transportation in the spring of 2009; except
that all projects must be maintenance projects for the
existing State system with the goal of reaching 90%
acceptable condition in the system statewide and further

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except that all projects must reflect the generally
accepted historical distribution of projects throughout
the State.
(b) $5,379,670,000 for rail facilities and for mass transit
facilities, as defined in Section 2705-305 of the Department of
Transportation Law (20 ILCS 2705/2705-305), including rapid
transit, rail, bus and other equipment used in connection
therewith by the State or any unit of local government, special
transportation district, municipal corporation or other
corporation or public authority authorized to provide and
promote public transportation within the State or two or more
of the foregoing jointly, for the following specific purposes:
(1) $4,283,870,000 statewide,
(2) $83,350,000 for use within the counties of Cook,
DuPage, Kane, Lake, McHenry and Will,
(3) $12,450,000 for use outside the counties of Cook,
DuPage, Kane, Lake, McHenry and Will, and
(4) $1,000,000,000 for use on projects that shall
reflect the generally accepted historical distribution of
projects throughout the State.
(c) $482,600,000 for airport or aviation facilities and any
equipment used in connection therewith, including engineering
and land acquisition costs, by the State or any unit of local
government, special transportation district, municipal
corporation or other corporation or public authority
authorized to provide public transportation within the State,

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or two or more of the foregoing acting jointly, and for the
making of deposits into the Airport Land Loan Revolving Fund
for loans to public airport owners pursuant to the Illinois
Aeronautics Act.
(d) $4,653,800,000 for use statewide for State or local
highways, arterial highways, freeways, roads, bridges, and
structures separating highways and railroads and roads, and for
grants to counties, municipalities, townships, or road
districts for planning, engineering, acquisition,
construction, reconstruction, development, improvement,
extension, and all construction-related expenses of the public
infrastructure and other transportation improvement projects
which are related to economic development in the State of
Illinois.
(Source: P.A. 97-771, eff. 7-10-12; 98-94, eff. 7-17-13;
98-781, eff. 7-22-14.)
Section 10. The Build Illinois Bond Act is amended by
changing Sections 2 and 4 as follows:
(30 ILCS 425/2) (from Ch. 127, par. 2802)
Sec. 2. Authorization for Bonds. The State of Illinois is
authorized to issue, sell and provide for the retirement of
limited obligation bonds, notes and other evidences of
indebtedness of the State of Illinois in the total principal
amount of $7,146,009,000 $6,246,009,000 herein called "Bonds".

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Such authorized amount of Bonds shall be reduced from time to
time by amounts, if any, which are equal to the moneys received
by the Department of Revenue in any fiscal year pursuant to
Section 3-1001 of the "Illinois Vehicle Code", as amended, in
excess of the Annual Specified Amount (as defined in Section 3
of the "Retailers' Occupation Tax Act", as amended) and
transferred at the end of such fiscal year from the General
Revenue Fund to the Build Illinois Purposes Fund (now
abolished) as provided in Section 3-1001 of said Code;
provided, however, that no such reduction shall affect the
validity or enforceability of any Bonds issued prior to such
reduction. Such amount of authorized Bonds shall be exclusive
of any refunding Bonds issued pursuant to Section 15 of this
Act and exclusive of any Bonds issued pursuant to this Section
which are redeemed, purchased, advance refunded, or defeased in
accordance with paragraph (f) of Section 4 of this Act. Bonds
shall be issued for the categories and specific purposes
expressed in Section 4 of this Act.
(Source: P.A. 98-94, eff. 7-17-13.)
(30 ILCS 425/4) (from Ch. 127, par. 2804)
Sec. 4. Purposes of Bonds. Bonds shall be issued for the
following purposes and in the approximate amounts as set forth
below:
(a) $3,222,800,000 for the expenses of issuance and sale of
Bonds, including bond discounts, and for planning,

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engineering, acquisition, construction, reconstruction,
development, improvement and extension of the public
infrastructure in the State of Illinois, including: the making
of loans or grants to local governments for waste disposal
systems, water and sewer line extensions and water distribution
and purification facilities, rail or air or water port
improvements, gas and electric utility extensions, publicly
owned industrial and commercial sites, buildings used for
public administration purposes and other public infrastructure
capital improvements; the making of loans or grants to units of
local government for financing and construction of wastewater
facilities, including grants to serve unincorporated areas;
refinancing or retiring bonds issued between January 1, 1987
and January 1, 1990 by home rule municipalities, debt service
on which is provided from a tax imposed by home rule
municipalities prior to January 1, 1990 on the sale of food and
drugs pursuant to Section 8-11-1 of the Home Rule Municipal
Retailers' Occupation Tax Act or Section 8-11-5 of the Home
Rule Municipal Service Occupation Tax Act; the making of
deposits not to exceed $70,000,000 in the aggregate into the
Water Pollution Control Revolving Fund to provide assistance in
accordance with the provisions of Title IV-A of the
Environmental Protection Act; the planning, engineering,
acquisition, construction, reconstruction, alteration,
expansion, extension and improvement of highways, bridges,
structures separating highways and railroads, rest areas,

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interchanges, access roads to and from any State or local
highway and other transportation improvement projects which
are related to economic development activities; the making of
loans or grants for planning, engineering, rehabilitation,
improvement or construction of rail and transit facilities; the
planning, engineering, acquisition, construction,
reconstruction and improvement of watershed, drainage, flood
control, recreation and related improvements and facilities,
including expenses related to land and easement acquisition,
relocation, control structures, channel work and clearing and
appurtenant work; the making of grants for improvement and
development of zoos and park district field houses and related
structures; and the making of grants for improvement and
development of Navy Pier and related structures.
(b) $849,000,000 for fostering economic development and
increased employment and the well being of the citizens of
Illinois, including: the making of grants for improvement and
development of McCormick Place and related structures; the
planning and construction of a microelectronics research
center, including the planning, engineering, construction,
improvement, renovation and acquisition of buildings,
equipment and related utility support systems; the making of
loans to businesses and investments in small businesses;
acquiring real properties for industrial or commercial site
development; acquiring, rehabilitating and reconveying
industrial and commercial properties for the purpose of

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expanding employment and encouraging private and other public
sector investment in the economy of Illinois; the payment of
expenses associated with siting the Superconducting Super
Collider Particle Accelerator in Illinois and with its
acquisition, construction, maintenance, operation, promotion
and support; the making of loans for the planning, engineering,
acquisition, construction, improvement and conversion of
facilities and equipment which will foster the use of Illinois
coal; the payment of expenses associated with the promotion,
establishment, acquisition and operation of small business
incubator facilities and agribusiness research facilities,
including the lease, purchase, renovation, planning,
engineering, construction and maintenance of buildings,
utility support systems and equipment designated for such
purposes and the establishment and maintenance of centralized
support services within such facilities; and the making of
grants or loans to units of local government for Urban
Development Action Grant and Housing Partnership programs.
(b-1) $900,000,000 for mass transit facilities, including
rapid transit, rail, and other equipment.
(c) $1,944,058,100 for the development and improvement of
educational, scientific, technical and vocational programs and
facilities and the expansion of health and human services for
all citizens of Illinois, including: the making of construction
and improvement grants and loans to public libraries and
library systems; the making of grants and loans for planning,

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engineering, acquisition and construction of a new State
central library in Springfield; the planning, engineering,
acquisition and construction of an animal and dairy sciences
facility; the planning, engineering, acquisition and
construction of a campus and all related buildings, facilities,
equipment and materials for Richland Community College; the
acquisition, rehabilitation and installation of equipment and
materials for scientific and historical surveys; the making of
grants or loans for distribution to eligible vocational
education instructional programs for the upgrading of
vocational education programs, school shops and laboratories,
including the acquisition, rehabilitation and installation of
technical equipment and materials; the making of grants or
loans for distribution to eligible local educational agencies
for the upgrading of math and science instructional programs,
including the acquisition of instructional equipment and
materials; miscellaneous capital improvements for universities
and community colleges including the planning, engineering,
construction, reconstruction, remodeling, improvement, repair
and installation of capital facilities and costs of planning,
supplies, equipment, materials, services, and all other
required expenses; the making of grants or loans for repair,
renovation and miscellaneous capital improvements for
privately operated colleges and universities and community
colleges, including the planning, engineering, acquisition,
construction, reconstruction, remodeling, improvement, repair

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and installation of capital facilities and costs of planning,
supplies, equipment, materials, services, and all other
required expenses; and the making of grants or loans for
distribution to local governments for hospital and other health
care facilities including the planning, engineering,
acquisition, construction, reconstruction, remodeling,
improvement, repair and installation of capital facilities and
costs of planning, supplies, equipment, materials, services
and all other required expenses.
(d) $230,150,900 for protection, preservation, restoration
and conservation of environmental and natural resources,
including: the making of grants to soil and water conservation
districts for the planning and implementation of conservation
practices and for funding contracts with the Soil Conservation
Service for watershed planning; the making of grants to units
of local government for the capital development and improvement
of recreation areas, including planning and engineering costs,
sewer projects, including planning and engineering costs and
water projects, including planning and engineering costs, and
for the acquisition of open space lands, including the
acquisition of easements and other property interests of less
than fee simple ownership; the acquisition and related costs
and development and management of natural heritage lands,
including natural areas and areas providing habitat for
endangered species and nongame wildlife, and buffer area lands;
the acquisition and related costs and development and

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management of habitat lands, including forest, wildlife
habitat and wetlands; and the removal and disposition of
hazardous substances, including the cost of project
management, equipment, laboratory analysis, and contractual
services necessary for preventative and corrective actions
related to the preservation, restoration and conservation of
the environment, including deposits not to exceed $60,000,000
in the aggregate into the Hazardous Waste Fund and the
Brownfields Redevelopment Fund for improvements in accordance
with the provisions of Titles V and XVII of the Environmental
Protection Act.
(e) The amount specified in paragraph (a) above shall
include an amount necessary to pay reasonable expenses of each
issuance and sale of the Bonds, as specified in the related
Bond Sale Order (hereinafter defined).
(f) Any unexpended proceeds from any sale of Bonds which
are held in the Build Illinois Bond Fund may be used to redeem,
purchase, advance refund, or defease any Bonds outstanding.
(Source: P.A. 98-94, eff. 7-17-13.)