Bill Status of HB 5854   96th General Assembly

Short Description:  FINANCE AUTHORITY-PROJECTS

House Sponsors
Rep. Marlow H. Colvin-William B. Black-Patrick J. Verschoore-Luis Arroyo-Al Riley, Monique D. Davis, William Davis and Deborah L. Graham

Senate Sponsors
(Sen. James F. Clayborne, Jr.)


Last Action  View All Actions

DateChamber Action
  7/12/2010HousePublic Act . . . . . . . . . 96-1021

Statutes Amended In Order of Appearance
20 ILCS 3501/801-5
20 ILCS 3501/801-10
20 ILCS 3501/801-55 new

Synopsis As Introduced
Amends the Illinois Finance Authority Act. Provides that the Act applies to certain projects located outside of the State, if the project involves property or facilities that are owned, operated, leased, or managed by an entity located within the State. Sets forth criteria for approving out-of-State projects. Provides that the Authority shall not provide financing for any project, or portion of a project, located outside of the United States. Provides that the Authority shall not provide financing that constitutes an indebtedness of the State for any project, or portion of a project, located outside of the State. Provides that the Illinois Finance Authority may approve an application to finance or refinance a project located outside of the State only if the Authority has the ability to issue at least another $1,000,000,000 of bonds after giving effect to the financing or refinancing or the out-of-state project. Proposes that the Authority shall not provide financing that uses State volume cap under Section 146 of the Internal Revenue Code of 1986 for a project located outside of the State. Effective immediately.

Actions 
DateChamber Action
  2/10/2010HouseFiled with the Clerk by Rep. Marlow H. Colvin
  2/10/2010HouseFirst Reading
  2/10/2010HouseReferred to Rules Committee
  2/11/2010HouseAdded Chief Co-Sponsor Rep. William B. Black
  2/17/2010HouseAdded Chief Co-Sponsor Rep. Patrick J. Verschoore
  2/22/2010HouseAssigned to State Government Administration Committee
  3/3/2010HouseDo Pass / Short Debate State Government Administration Committee; 013-004-000
  3/3/2010HousePlaced on Calendar 2nd Reading - Short Debate
  3/4/2010HouseAdded Co-Sponsor Rep. Monique D. Davis
  3/11/2010HouseSecond Reading - Short Debate
  3/11/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/12/2010HouseThird Reading - Short Debate - Passed 069-026-000
  3/12/2010HouseAdded Chief Co-Sponsor Rep. Luis Arroyo
  3/12/2010HouseAdded Chief Co-Sponsor Rep. Al Riley
  3/12/2010HouseAdded Co-Sponsor Rep. William Davis
  3/12/2010HouseAdded Co-Sponsor Rep. Deborah L. Graham
  3/15/2010SenateArrive in Senate
  3/15/2010SenatePlaced on Calendar Order of First Reading
  3/15/2010SenateChief Senate Sponsor Sen. James F. Clayborne, Jr.
  3/15/2010SenateFirst Reading
  3/15/2010SenateReferred to Assignments
  4/6/2010SenateAssigned to State Government and Veterans Affairs
  4/15/2010SenateDo Pass State Government and Veterans Affairs; 006-002-001
  4/15/2010SenatePlaced on Calendar Order of 2nd Reading April 20, 2010
  4/23/2010SenateSecond Reading
  4/23/2010SenatePlaced on Calendar Order of 3rd Reading April 27, 2010
  4/28/2010SenateThird Reading - Passed; 032-015-002
  4/28/2010HousePassed Both Houses
  5/27/2010HouseSent to the Governor
  7/12/2010HouseGovernor Approved
  7/12/2010HouseEffective Date July 12, 2010
  7/12/2010HousePublic Act . . . . . . . . . 96-1021

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