Bill Text: IL HB5458 | 2011-2012 | 97th General Assembly | Introduced

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [HB5458 Detail]

Download: Illinois-2011-HB5458-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 HB5458 Introduced , by Rep. Kimberly du Buclet 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.
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HOME RULE NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Private Activity Bond Approval Act is
amended by changing Section 15 as follows:
(30 ILCS 346/15)
Sec. 15. Qualifications for facility requiring host
approval.
(a) Host approval shall not be granted unless and until the
Governor has received the items and information listed in
subsection (b) of this Section and has issued an approval as
set forth in subsection (c) of this Section.
(b) The following items and information must be received by
the Governor:
(1) a copy of the notice of public hearing pertaining
to the facilities;
(2) minutes or another official record of the public
hearing;
(3) the maximum stated principal amount of the bonds;
(4) a description of the facility, including its
location;
(5) a description of the plan of finance;
(6) the name of the issuer of the bonds; and

HB5458 - 2 - LRB097 19624 PJG 64878 b
(7) the name of the initial owner or principal user of
the facility.
(c) If, and only if, the Governor determines that the
facility and the items and information submitted under
subsection (b) of this Section are consistent with the laws and
public policy of the State and are in the best interest of the
State, then the Governor shall issue a written approval under
this Section authorizing the governmental unit to grant its
host approval in its discretion.
(d) A home rule unit may not exercise its home rule powers
and functions in a manner that is inconsistent with this Act.
This subsection is a limitation under subsection (i) of Section
6 of Article VII of the Illinois Constitution on the concurrent
exercise by home rule units of powers and functions exercised
by the State.
(Source: P.A. 96-1493, eff. 1-1-11.)
Section 99. Effective date. This Act takes effect upon
becoming law.