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IL HB2613

Bill

Official Source

Status

Passed

8/9/2013

Primary Sponsor

Anthony DeLuca

Click for details

Origin

House of Representatives

98th General Assembly

AI Summary

  • Amends the General Obligation Bond Act to redirect unused federal funds received for capital facilities projects to the Capital Development Board Contributory Trust Fund for future capital projects instead of depositing them in the General Obligation Bond Retirement and Interest Fund.

  • Requires unused federal funds to be used only for capital projects and for no other purpose, subject to appropriation and direction by the Capital Development Board.

  • Specifies that federal funds received as reimbursement for completed construction of capital facilities projects continue to be deposited in the General Obligation Bond Retirement and Interest Fund.

  • Makes corresponding amendments to the Capital Development Bond Act of 1972 Section 9a to apply the same treatment to unused federal funds for capital improvement projects.

Legislative Description

FIN-CDB-UNUSED FEDERAL FUNDS

Last Action

Public Act . . . . . . . . . 98-0245

8/9/2013

Committee Referrals

State Government & Veterans Affairs4/3/2013
Assignments3/22/2013
State Government Administration3/4/2013
Rules2/21/2013

Full Bill Text

No bill text available