Illinois 99th Regular Session Status: Passed Senate Bipartisan · 1 R · 1 D cosponsors

SB 2467 — CDB-FEDERAL FUNDS

Last action — Session Sine Die

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 99th Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the General Obligation Bond Act. Provides that the unused portion of federal funds received for or as reimbursement for a capital facilities project (currently, the unused portion of federal funds received for a capital facilities project) shall remain in the Capital Development Board Contributory Trust Fund. Removes a provision providing that any federal funds received as reimbursement for the completed construction of a capital improvement project shall be deposited in the Capital Development Bond Retirement and Interest Fund. Amends the Capital Development Bond Act of 1972. Makes conforming changes. Effective immediately.

Bill Text

What changed in the latest version

5 added · 28 removed

Plain-language change summary

The revised version of Bill SB 2467 makes important changes regarding federal funds associated with capital projects. Specifically, it now states that any unused federal funds must stay in the Capital Development Board Contributory Trust Fund rather than being transferred to a different fund for bond retirement. This change is significant because it ensures that federal funds can continue to be utilized for ongoing capital needs rather than being redirected, potentially allowing for more efficient use of resources in future projects.

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*LRB09920020MLM44426b* SB2467 99TH GENERAL ASSEMBLY State of Illinois and 2016 SB2467 Introduced 2/9/2016, by Sen.
SB2467 Engrossed LRB099 20020 MLM 44426 b AN ACT concerning finance.
Iris Y.
Martinez SYNOPSIS AS INTRODUCED:
ILCS 330/15 from Ch.
127, par.
665 ILCS 420/9a from Ch.
127, par.
759a Amends the General Obligation Bond Act.
Provides that the unused portion of federal funds received for or as reimbursement for a capital facilities project (currently, the unused portion of federal funds received for a capital facilities project) shall remain in the Capital Development Board Contributory Trust Fund.
Removes a provision providing that any federal funds received as reimbursement for the completed construction of a capital improvement project shall be deposited in the Capital Development Bond Retirement and Interest Fund.
Amends the Capital Development Bond Act of 1972.
Makes conforming changes.
Effective immediately.
LRB099 20020 MLM 44426 b FISCAL NOTE ACT MAY APPLY A BILL FOR SB2467 LRB099 20020 MLM 44426 b AN ACT concerning finance.
With respect to the interest payable on variable rate bonds, such certifications shall be calculated at the maximum rate of interest that may be payable during the fiscal year, after taking into account any credits permitted in the related indenture or other instrument against the amount of such interest required to be appropriated SB2467 - 2 - LRB099 20020 MLM 44426 b for such period pursuant to subsection (c) of Section 14 of this Act.
With respect to the interest payable on variable rate bonds, such certifications shall be calculated at the maximum rate of interest that may be payable during the fiscal year, after taking into account any credits permitted in the related indenture or other instrument against the amount of such interest required to be appropriated SB2467 Engrossed - 2 - LRB099 20020 MLM 44426 b for such period pursuant to subsection (c) of Section 14 of this Act.
Computations of interest shall include SB2467 - 3 - LRB099 20020 MLM 44426 b the amounts certified by the Director of the Governor's Office of Management and Budget under subsection (b) of Section 9 of this Act.
Computations of interest shall include SB2467 Engrossed - 3 - LRB099 20020 MLM 44426 b the amounts certified by the Director of the Governor's Office of Management and Budget under subsection (b) of Section 9 of this Act.
The transfer of monies herein and above directed is not required if monies in the General Obligation Bond Retirement and Interest Fund are more than the amount otherwise to be transferred as herein above provided, and if the Governor or his authorized representative notifies the State Treasurer and SB2467 - 4 - LRB099 20020 MLM 44426 b Comptroller of such fact in writing.
The transfer of monies herein and above directed is not required if monies in the General Obligation Bond Retirement and Interest Fund are more than the amount otherwise to be transferred as herein above provided, and if the Governor or his authorized representative notifies the State Treasurer and SB2467 Engrossed - 4 - LRB099 20020 MLM 44426 b Comptroller of such fact in writing.
1-1-14.) SB2467 - 5 - LRB099 20020 MLM 44426 b Section 10.
1-1-14.) SB2467 Engrossed - 5 - LRB099 20020 MLM 44426 b Section 10.
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Action History

  1. Session Sine Die

  2. Added Alternate Co-Sponsor Rep. Anthony DeLuca

  3. Added Alternate Co-Sponsor Rep. Daniel J. Burke

  4. Added Alternate Co-Sponsor Rep. Al Riley

  5. Added Alternate Co-Sponsor Rep. John D. Anthony

  6. Added Alternate Co-Sponsor Rep. John M. Cabello

  7. Added Alternate Chief Co-Sponsor Rep. William Davis

  8. Referred to Rules Committee

  9. First Reading

  10. Chief House Sponsor Rep. Tim Butler

  11. Arrived in House

  12. Third Reading - Passed; 055-000-000

  13. Placed on Calendar Order of 3rd Reading April 19, 2016

  14. Second Reading

  15. Added as Chief Co-Sponsor Sen. Matt Murphy

  16. Placed on Calendar Order of 2nd Reading March 16, 2016

  17. Do Pass Revenue; 009-000-000

  18. Added as Co-Sponsor Sen. John G. Mulroe

  19. Added as Co-Sponsor Sen. Dale A. Righter

  20. Assigned to Revenue

  21. Referred to Assignments

  22. First Reading

  23. Filed with Secretary by Sen. Iris Y. Martinez

Sponsors

  • Iris Y. Martinez · Cosponsor
  • John M. Cabello · Cosponsor
  • John D. Anthony · Cosponsor
  • Al Riley · Cosponsor
  • Daniel J. Burke · Cosponsor
  • Anthony DeLuca · Cosponsor

Sponsorship breakdown

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0 sponsors · 6 co-sponsors · 177 not signed on

Sponsors (0)

None.

Co-sponsors (6)

Not signed on (177)

177 members have not signed on to this bill.

Show all 177 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading

Passed 55 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 37002
Republican 5000
Democrat 13001
Total 55003
% of votes cast 95%0%0%5%
How each member voted (58)
Member Party Vote
Sandoval — Yea
Althoff — Yea
Martinez — Yea
Barickman — Yea
Bertino-Tarrant — Yea
Biss — Yea
Bivins — Yea
Bush — Yea
McConnaughay — Yea
Muñoz — Yea
Landek — Yea
Link — Yea
Luechtefeld — Yea
Manar — Yea
McCann — Yea
Harris — Yea
Bennett — Yea
McGuire — Yea
McCarter — Yea
Mulroe — Yea
Nybo — Yea
Oberweis — Yea
Sullivan — Yea
Radogno — Yea
Silverstein — Yea
Cullerton, T. — Yea
Cullerton — Yea
Steans — Yea
Brady — Not Voting
Trotter — Yea
Clayborne — Yea
Connelly — Yea
Forby — Yea
Haine — Yea
Hutchinson — Yea
Noland — Yea
Raoul — Yea
Righter — Yea
Van Pelt — Not Voting
Bill Cunningham Democrat Yea
David Koehler Democrat Yea
Don Harmon Democrat Yea
Emil Jones, III Democrat Yea
Eva-Dina Delgado Democrat Yea
Julie A. Morrison Democrat Yea
Kimberly A. Lightford Democrat Yea
Lakesia Collins Democrat Yea
Laura M. Murphy Democrat Yea
Laura M. Murphy Democrat Not Voting
Linda Holmes Democrat Yea
Mattie Hunter Democrat Yea
Michael E. Hastings Democrat Yea
Steve Stadelman Democrat Yea
Chapin Rose Republican Yea
Dave Syverson Republican Yea
Neil Anderson Republican Yea
Sue Rezin Republican Yea
Travis Weaver Republican Yea

Official roll call →

Subjects

finance housing labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 2467 do?
Amends the General Obligation Bond Act. Provides that the unused portion of federal funds received for or as reimbursement for a capital facilities project (currently, the unused portion of federal funds received for a capital facilities project) shall remain in the Capital Development Board Contributory Trust Fund. Removes a provision providing that any federal funds received as reimbursement for the completed construction of a capital improvement project shall be deposited in the Capital Development Bond Retirement and Interest Fund. Amends the Capital Development Bond Act of 1972. Makes conforming changes. Effective immediately.
Who sponsors SB 2467?
SB 2467 is sponsored by Iris Y. Martinez, John M. Cabello (Republican), John D. Anthony, Al Riley, Daniel J. Burke, and Anthony DeLuca (Democrat).
What is the current status of SB 2467?
This bill died with 99th Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 2467?
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