Illinois 97th Regular Session Status: In Committee

SB 3 — GO BOND-STATE RESTRUCTURING

Last action — Session Sine Die

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

This bill died with 97th Regular Session. It reached “In Committee” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 State Finance Act. Creates the General Obligation Restructuring Bond Fund and the General Obligation Restructuring Bond Debt Service Fund as special funds in the State treasury. Provides that the Comptroller shall transfer into the General Obligation Restructuring Bond Debt Service Fund certain amounts to service debt due on State General Obligation Restructuring Bonds. Amends the General Obligation Bond Act. Increases the total authorized amount of General Obligation Bonds. Provides that the $8,750,000,000 of Bonds authorized by this amendatory Act shall be used to pay vouchers that are at least 60 days past due, medical expenses incurred by the State under its health plans, corporate income tax refunds, and other operating expenses of the State. Provides that the proceeds of these Bonds shall be deposited in the General Obligation Restructuring Bond Fund. Provides for the conditions for issuance and sale of State General Obligation Restructuring Bonds. Makes other changes. Effective immediately.

Bill Text

Action History

  1. Session Sine Die

  2. Rule 3-9(a) / Re-referred to Assignments

  3. Postponed - Executive

  4. Postponed - Executive

  5. Postponed - Executive

  6. Added as Chief Co-Sponsor Sen. Iris Y. Martinez

  7. Assigned to Executive

  8. Referred to Assignments

  9. First Reading

  10. Filed with Secretary by Sen. John J. Cullerton

Sponsors

  • John J. Cullerton · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • John J. Cullerton

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"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

Subjects

finance healthcare
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 3 do?
Amends the State Finance Act. Creates the General Obligation Restructuring Bond Fund and the General Obligation Restructuring Bond Debt Service Fund as special funds in the State treasury. Provides that the Comptroller shall transfer into the General Obligation Restructuring Bond Debt Service Fund certain amounts to service debt due on State General Obligation Restructuring Bonds. Amends the General Obligation Bond Act. Increases the total authorized amount of General Obligation Bonds. Provides that the $8,750,000,000 of Bonds authorized by this amendatory Act shall be used to pay vouchers that are at least 60 days past due, medical expenses incurred by the State under its health plans, corporate income tax refunds, and other operating expenses of the State. Provides that the proceeds of these Bonds shall be deposited in the General Obligation Restructuring Bond Fund. Provides for the conditions for issuance and sale of State General Obligation Restructuring Bonds. Makes other changes. Effective immediately.
Who sponsors SB 3?
SB 3 is sponsored by John J. Cullerton.
What is the current status of SB 3?
This bill died with 97th Regular Session. It reached “In Committee” 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 3?
Track SB 3 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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