92nd General Assembly
Status of HB0628
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 Full Text  Bill Summary

   20 ILCS 2705/2705-320 new                                                   
   30 ILCS 105/5.545 new                                                       
   30 ILCS 330/2             from Ch. 127, par. 652                            
   30 ILCS 330/4             from Ch. 127, par. 654                            

        Amends  the  Department  of  Transportation  Law  in  the   Civil      
   Administrative  Code  of  Illinois.  Provides that the Department must      
   establish the Build Illinois Transit Program for the  construction  of      
   and  acquisition of property and equipment for new mass transportation      
   facilities and new or expanded mass transportation service,  including      
   rapid  transit, rail, bus, and other equipment used in connection with      
   mass transit by the State, a public or private entity, or 2 or more of      
   these entities.  Provides that  the  Department  may  (i)  enter  into      
   contracts  for  new mass transportation facilities and new or expanded      
   mass transportation service and (ii) make grants  to  units  of  local      
   government  and mass transit carriers. Amends the State Finance Act to      
   create the Build Illinois Transit Program  Fund.  Amends  the  General      
   Obligation   Bond   Act   to   increase   the  bond  authorization  by      
   $3,900,000,000 and to make a corresponding increase in the bond amount      
   authorized for mass transportation facilities under the Build Illinois      
   Transit Program.  Provides that for the payment of the  principal  and      
   interest  on the bonds, the Comptroller must order transferred and the      
   Treasurer must transfer $293,000,000 annually from the General Revenue      
   Fund to the Build Illinois Transit Program Fund until  the  bonds  are      
          STATE DEBT NOTE (Economic and Fiscal Commission)                     
          HB 628 would increase:                                               
           General Obligation principal by                  $ 3.9 billion      
           Potential General Obligation principal by        $ 7.1 billion      
           Annual debt service by                           $ 291 million      
          FISCAL NOTE (Department of Transportation)                           
          In order to service the additional debt, HB 628 calls for the        
          annual transfer of $293 million from GRF to the Build Illinois       
          Transit Program Fund.                                                
   FEB-06-2001  H  FILED WITH CLERK                                               
   FEB-06-2001  H  FIRST READING                                                  
   FEB-06-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-07-2001  H       ASSIGNED TO COMMITTEE               TRANSPORAT'N          
   FEB-09-2001  H  STATE DEBT IMPACT NOTE FILED                                   
   FEB-09-2001  H                   COMMITTEE               TRANSPORAT'N          
   FEB-15-2001  H                         FISCAL NOTE FILED                       
   FEB-15-2001  H                   COMMITTEE               TRANSPORAT'N          
   MAR-16-2001  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary