IMSA-RETAIN FUNDS-ISSUE BONDS House SponsorsRep. Barbara Hernández-Norine K. Hammond-William "Will" Davis Senate Sponsors(Sen. Laura Ellman) 1/7/2025HouseSession Sine Die 30 ILCS 105/6a-6from Ch. 127, par. 142a630 ILCS 305/1from Ch. 17, par. 6601105 ILCS 305/4.5 new Amends the State Finance Act, the Bond Authorization Act, and the Illinois Mathematics and Science Academy Law. Sets forth certain types of revenue the Illinois Mathematics and Science Academy may retain in its own treasury. Provides that the Board of Trustees of the Academy is authorized to borrow money and issue and sell bonds for the purpose of acquiring, purchasing, completing, building, constructing, reconstructing, enlarging, improving, extending, or equipping buildings, structures, and facilities that are required by or are necessary for the use or benefit of the Academy. Provides that such bonds shall be payable only from tuition, fee, and room and board revenue and from other funds authorized by law to be used for such purpose and applied as a supplement to such revenue. Sets forth other provisions concerning the issuance of bonds by the Academy, including the execution and delivery of trust agreements to a bank or trust company and the adoption of a resolution or resolutions describing in a general way the contemplated facility or facilities designated as the project or projects and the estimated cost. Effective immediately.House Committee Amendment No. 1 Provides that the bonds shall be obligations of the Illinois Mathematics and Science Academy payable only in accordance with the terms thereof and shall not be obligations, general, special, or otherwise, of the State of Illinois. Provides that the bonds shall not constitute a debt, legal or moral, of the State of Illinois and shall not be enforceable against the State of Illinois. 2/16/2023HouseFiled with the Clerk by Rep. Barbara Hernández 2/16/2023HouseFirst Reading 2/16/2023HouseReferred to Rules Committee 2/28/2023HouseAssigned to Appropriations-Higher Education Committee 3/6/2023HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Barbara Hernández 3/6/2023HouseHouse Committee Amendment No. 1 Referred to Rules Committee 3/7/2023HouseHouse Committee Amendment No. 1 Rules Refers to Appropriations-Health & Human Services Committee 3/8/2023HouseHouse Committee Amendment No. 1 Re-assigned to Appropriations-Higher Education Committee 3/9/2023HouseHouse Committee Amendment No. 1 Adopted in Appropriations-Higher Education Committee; by Voice Vote 3/9/2023HouseDo Pass as Amended / Short Debate Appropriations-Higher Education Committee; 009-005-000 3/9/2023HousePlaced on Calendar 2nd Reading - Short Debate 3/22/2023HouseAdded Chief Co-Sponsor Rep. Norine K. Hammond 3/22/2023HouseSecond Reading - Short Debate 3/22/2023HouseHeld on Calendar Order of Second Reading - Short Debate 3/23/2023HouseAdded Chief Co-Sponsor Rep. William "Will" Davis 3/24/2023HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/24/2023HouseThird Reading - Short Debate - Passed 101-001-000 3/27/2023SenateArrive in Senate 3/27/2023SenatePlaced on Calendar Order of First Reading 3/27/2023SenateChief Senate Sponsor Sen. Laura Ellman 3/27/2023SenateFirst Reading 3/27/2023SenateReferred to Assignments 1/7/2025HouseSession Sine Die