IL HB6240

Increases total authorized General Obligation Bonds from $47,092,925,743 to $51,092,925,743, an increase of $4,000,000,000.

Creates a State Fiscal Responsibility Fund to receive bond proceeds (minus bond sale expenses) for paying delinquent debts to state creditors.

Authorizes use of $4,000,000,000 in bond proceeds to pay bona fide creditors (including healthcare providers, universities, school districts, local governments, and vendors) who submitted bills before September 1, 2012 and were not paid within 30 days.

Requires the Comptroller to pay delinquent debts in order of oldest debt first and prohibits use of these bond proceeds for pension or retirement system contributions.

Exempts the State Fiscal Responsibility Fund from administrative charges and chargebacks under the State Finance Act.