HB 4582

  • Illinois House Bill
  • 103rd Regular Session
  • Introduced in House May 26, 2024
  • Passed House Apr 18, 2024
  • Passed Senate May 26, 2024
  • Became Law Jun 07, 2024

Finance-Fund Transfers

Abstract

Amends the State Finance Act. Provides for the transfer of certain moneys into the Audit Expense Fund. Effective immediately. Senate Floor Amendment No. 1 Deletes reference to: 30 ILCS 105/6z-20.1 Adds reference to: 30 ILCS 105/6z-78 30 ILCS 330/2 from Ch. 127, par. 652 30 ILCS 330/3 from Ch. 127, par. 653 30 ILCS 330/9 from Ch. 127, par. 659 30 ILCS 425/2 from Ch. 127, par. 2802 30 ILCS 425/4 from Ch. 127, par. 2804 30 ILCS 425/6 from Ch. 127, par. 2806 30 ILCS 425/13 from Ch. 127, par. 2813 20 ILCS 3805/22 from Ch. 67 1/2, par. 322 30 ILCS 350/10 from Ch. 17, par. 6910 30 ILCS 350/16 from Ch. 17, par. 6916 30 ILCS 350/17 from Ch. 17, par. 6917 35 ILCS 200/18-185 105 ILCS 5/10-22.36 from Ch. 122, par. 10-22.36 105 ILCS 5/17-2.11 from Ch. 122, par. 17-2.11 105 ILCS 5/19-1 105 ILCS 5/20-2 from Ch. 122, par. 20-2 Replaces everything after the enacting clause. Amends the State Finance Act. Provides that, if and when the State of Illinois incurs any bonded indebtedness using the general obligation bond authorizations for capital projects enacted in the amendatory Act (and in other Acts), moneys in the Capital Projects Fund shall be set aside and used for the purpose of paying and discharging annually the principal and interest on that (and other) bonded indebtedness. Provides that, upon each delivery of general obligation bonds for capital projects using bond authorizations enacted in the amendatory Act (and other Acts), the Comptroller shall compute and certify to the State Treasurer the total amount of principal of, interest on, and premium, if any, on such bonds during the then current and each succeeding fiscal year. Amends the General Obligation Bond Act. Increases the State's total general obligation bond authorization from $79,440,839,969 to $81,789,839,969. Increases the amount of bond funds that may be used for various purposes. Specifies that bonds issued under the Act during fiscal year 2025 may be issued with principal or mandatory redemption amounts in unequal amounts. Amends the Build Illinois Bond Act. Increases the bond authorization under the Act from $10,019,681,100 to $10,758,681,100. Authorizes the use of bond proceeds for fostering the advancement of quantum information science and technology. Increases the amount of bond proceeds that may be used for various purposes under the Act. Specifies that bonds issued under the Act during fiscal year 2025 may be issued with principal or mandatory redemption amounts in unequal amounts. Amends the Illinois Housing Development Act. Increases the maximum bond authorization from $7,200,000,000 to $11,500,000,000. Amends the Local Government Debt Reform Act. Provides that certain bonds issued by school districts shall become due within 30 years (currently, 25 years) after they are issued. Provides that the county clerk shall accept certificates abating property taxes levied for the payment of principal and interest on general obligation bonds electronically. Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that extensions made for the payment of principal and interest on certain school construction bonds are not included in the district's aggregate extension. Amends the School Code. Provides that, beginning September 1, 2024, no referendum shall be required to build or purchase a building for school classroom or instructional purposes if, prior to the building or purchase of the building, the board determines, by resolution, that the building or purchase will result in an increase in pre-kindergarten or kindergarten classroom space in the district. Provides that certain bonds issued by school districts and authorized by an election held on or after November 5, 2024, and on any bonds issued to refund or continue to refund such bonds, shall not be considered indebtedness for purposes of any statutory debt limitation and must mature within 30 years from their date. Makes other changes concerning the issuance of bonds. Effective July 1, 2024.

Bill Sponsors (2)

Votes


Actions


Jun 07, 2024

House

Public Act . . . . . . . . . 103-0591

House

Effective Date July 1, 2024

House

Governor Approved

Jun 06, 2024

House

Sent to the Governor

Jun 03, 2024

House

Motion Withdrawn Rep. Emanuel "Chris" Welch

House

Passed Both Houses

May 29, 2024

House

Senate Floor Amendment No. 1 House Concurs 072-038-000

House

Motion Filed to Reconsider Vote Rep. Emanuel "Chris" Welch

House

House Concurs

House

3/5 Vote Required

May 28, 2024

House

Remove Chief Co-Sponsor Rep. Emanuel "Chris" Welch

House

Chief Sponsor Changed to Rep. Robert "Bob" Rita

House

Senate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Rules Committee; 005-000-000

House

Senate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee

House

Senate Floor Amendment No. 1 Motion Filed Concur Rep. Emanuel "Chris" Welch

House

Chief Sponsor Changed to Rep. Emanuel "Chris" Welch

House

Added Chief Co-Sponsor Rep. Emanuel "Chris" Welch

May 26, 2024

Senate

Third Reading - Passed; 040-018-000

Senate

Senate Floor Amendment No. 1 Filed with Secretary by Sen. Don Harmon

Senate

Senate Floor Amendment No. 1 Referred to Assignments

Senate

Alternate Chief Sponsor Changed to Sen. Don Harmon

Senate

Senate Floor Amendment No. 1 Be Approved for Consideration Assignments

Senate

Recalled to Second Reading

Senate

Senate Floor Amendment No. 1 Adopted; Harmon

Senate

Placed on Calendar Order of 3rd Reading

Senate

3/5 Vote Required

House

Arrived in House

House

Placed on Calendar Order of Concurrence Senate Amendment(s) 1

May 25, 2024

Senate

Rule 2-10 Third Reading Deadline Established As May 26, 2024

May 24, 2024

Senate

Rule 2-10 Third Reading Deadline Established As May 25, 2024

May 17, 2024

Senate

Rule 2-10 Third Reading/Passage Deadline Established As May 24, 2024

Senate

Second Reading

Senate

Placed on Calendar Order of 3rd Reading May 20, 2024

Apr 30, 2024

Senate

Approved for Consideration Assignments

Senate

Placed on Calendar Order of 2nd Reading May 1, 2024

Apr 24, 2024

Senate

Referred to Assignments

Senate

First Reading

Senate

Chief Senate Sponsor Sen. Elgie R. Sims, Jr.

Apr 19, 2024

Senate

Arrive in Senate

Senate

Placed on Calendar Order of First Reading April 30, 2024

Apr 18, 2024

House

Third Reading - Short Debate - Passed 108-000-000

House

Placed on Calendar Order of 3rd Reading - Short Debate

Apr 17, 2024

House

Held on Calendar Order of Second Reading - Short Debate

House

Second Reading - Short Debate

Apr 12, 2024

House

Placed on Calendar 2nd Reading - Short Debate

House

Do Pass / Short Debate Appropriations-General Services Committee; 015-000-000

Apr 05, 2024

House

Committee/3rd Reading Deadline Extended-Rule May 24, 2024

Feb 28, 2024

House

Assigned to Appropriations-General Services Committee

Jan 31, 2024

House

Referred to Rules Committee

House

First Reading

Jan 25, 2024

House

Filed with the Clerk by Rep. Fred Crespo

Bill Text

Bill Text Versions Format
Introduced HTML PDF
Engrossed HTML PDF
Enrolled HTML PDF
Senate Amendment 001 HTML PDF

Related Documents

Document Format
Public Act

Sources

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