92nd General Assembly
Status of HB3030
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 Full Text  Bill Summary

   15 ILCS 520/22.5          from Ch. 130, par. 41a                            

        Amends the Deposit  of  State  Moneys  Act.   Permits  the  State      
   Treasurer to deposit uncommitted State funds at reduced interest rates      
   in  Illinois  financial institutions that agree to make loans to units      
   of local government for specified infrastructure projects.                  
          FISCAL NOTE (State Treasurer)                                        
          HB 3030 will have a financial impact on the State's revenues.        
          A program in the State which already provides low rate loans         
          for wastewater treatment or sewer and water lines averages           
          about $100,000,000 in new loans per year at 2.905%. For the          
          program to be viable the Treasurer's Office would need to            
          match that rate to the borrower. The decrease in revenue             
          would be $6,430,000 per year for each $100,000,000 in out-           
          standing loans. The Treasurer's Office cannot make an estimate       
          of the activity of electrical system loans but based on cur-         
          rent return rates, every $50,000,000 in loans outstanding            
          would be an annual decrease in revenues of $3,215,000.               
   FEB-27-2001  H  FILED WITH CLERK                                               
   FEB-27-2001  H  FIRST READING                                                  
   FEB-27-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-28-2001  H       ASSIGNED TO COMMITTEE               CONST OFFICER         
   MAR-12-2001  H                         FISCAL NOTE FILED                       
   MAR-12-2001  H                   COMMITTEE               CONST OFFICER         
   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