95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1327


 
Introduced 2/9/2007, by Sen. Jeffrey M. Schoenberg
 
SYNOPSIS AS INTRODUCED:
 		














20 ILCS 3501/845-5









    Amends the Illinois Finance Authority Act. Increases the limit on the aggregate principal amount of bonds that may be outstanding at any one time from $25,200,000,000 to $30,000,000,000. Effective immediately.
















LRB095 10742 RCE 30984 b

















FISCAL NOTE ACT MAY APPLY


STATE DEBT IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











SB1327

LRB095 10742 RCE 30984 b






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    AN ACT concerning finance.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Illinois Finance Authority Act is amended  by 
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changing Section 845-5 as follows:
 



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    (20 ILCS 3501/845-5)


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    Sec. 845-5. The Authority may not have outstanding at any 
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one time bonds
for any of its corporate purposes in an 
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aggregate principal amount exceeding $30,000,000,000

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$25,200,000,000, excluding bonds issued to refund the bonds of 
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the Authority or
bonds of the Predecessor Authorities.

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(Source: P.A. 93-205, eff. 1-1-04; 93-1101, eff. 3-31-05; 
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94-1068, eff. 8-1-06.)

 

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