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SB3255 Enrolled LRB104 19081 KTG 32526 b
1 AN ACT concerning State government.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Article 1.
5 Section 1-1. This Act may be referred to as the Bond
6 Authorization Act of 2026.
7 Article 5.
8 Section 5-5. The State Finance Act is amended by changing
9 Section 6z-78 as follows:
10 (30 ILCS 105/6z-78)
11 Sec. 6z-78. Capital Projects Fund; bonded indebtedness;
12 transfers. Money in the Capital Projects Fund shall, if and
13 when the State of Illinois incurs any bonded indebtedness
14 using the bond authorizations for capital projects enacted in
15 Public Act 96-36, Public Act 96-1554, Public Act 97-771,
16 Public Act 98-94, and Public Act 103-591, and this amendatory
17 Act of the 104th General Assembly and using the general
18 obligation bond authorizations for capital projects enacted in
19 Public Act 101-30, Public Act 103-7, and Public Act 104-8 this
20 amendatory Act of the 104th General Assembly, be set aside and
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1 used for the purpose of paying and discharging annually the
2 principal and interest on that bonded indebtedness then due
3 and payable.
4 In addition to other transfers to the General Obligation
5 Bond Retirement and Interest Fund made pursuant to Section 15
6 of the General Obligation Bond Act, upon each delivery of
7 general obligation bonds for capital projects using bond
8 authorizations enacted in Public Act 96-36, Public Act
9 96-1554, Public Act 97-771, Public Act 98-94, Public Act
10 101-30 (except for amounts in Public Act 101-30 that increase
11 bond authorization under paragraph (1) of subsection (a) of
12 Section 4 and subsection (e) of Section 4 of the General
13 Obligation Bond Act), Public Act 103-7, Public Act 103-591,
14 Public Act 104-8, and this amendatory Act of the 104th General
15 Assembly, the State Comptroller shall compute and certify to
16 the State Treasurer the total amount of principal of, interest
17 on, and premium, if any, on such bonds during the then current
18 and each succeeding fiscal year. With respect to the interest
19 payable on variable rate bonds, such certifications shall be
20 calculated at the maximum rate of interest that may be payable
21 during the fiscal year, after taking into account any credits
22 permitted in the related indenture or other instrument against
23 the amount of such interest required to be appropriated for
24 the period.
25 (a) Except as provided for in subsection (b), on or before
26 the last day of each month, the State Treasurer and State
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1 Comptroller shall transfer from the Capital Projects Fund to
2 the General Obligation Bond Retirement and Interest Fund an
3 amount sufficient to pay the aggregate of the principal of,
4 interest on, and premium, if any, on the bonds payable on their
5 next payment date, divided by the number of monthly transfers
6 occurring between the last previous payment date (or the
7 delivery date if no payment date has yet occurred) and the next
8 succeeding payment date. Interest payable on variable rate
9 bonds shall be calculated at the maximum rate of interest that
10 may be payable for the relevant period, after taking into
11 account any credits permitted in the related indenture or
12 other instrument against the amount of such interest required
13 to be appropriated for that period. Interest for which moneys
14 have already been deposited into the capitalized interest
15 account within the General Obligation Bond Retirement and
16 Interest Fund shall not be included in the calculation of the
17 amounts to be transferred under this subsection.
18 (b) On or before the last day of each month, the State
19 Treasurer and State Comptroller shall transfer from the
20 Capital Projects Fund to the General Obligation Bond
21 Retirement and Interest Fund an amount sufficient to pay the
22 aggregate of the principal of, interest on, and premium, if
23 any, on the bonds issued prior to January 1, 2012 pursuant to
24 Section 4(d) of the General Obligation Bond Act payable on
25 their next payment date, divided by the number of monthly
26 transfers occurring between the last previous payment date (or
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1 the delivery date if no payment date has yet occurred) and the
2 next succeeding payment date. If the available balance in the
3 Capital Projects Fund is not sufficient for the transfer
4 required in this subsection, the State Treasurer and State
5 Comptroller shall transfer the difference from the Road Fund
6 to the General Obligation Bond Retirement and Interest Fund;
7 except that such Road Fund transfers shall constitute a debt
8 of the Capital Projects Fund which shall be repaid according
9 to subsection (c). Interest payable on variable rate bonds
10 shall be calculated at the maximum rate of interest that may be
11 payable for the relevant period, after taking into account any
12 credits permitted in the related indenture or other instrument
13 against the amount of such interest required to be
14 appropriated for that period. Interest for which moneys have
15 already been deposited into the capitalized interest account
16 within the General Obligation Bond Retirement and Interest
17 Fund shall not be included in the calculation of the amounts to
18 be transferred under this subsection.
19 (c) On the first day of any month when the Capital Projects
20 Fund is carrying a debt to the Road Fund due to the provisions
21 of subsection (b), the State Treasurer and State Comptroller
22 shall transfer from the Capital Projects Fund to the Road Fund
23 an amount sufficient to discharge that debt. These transfers
24 to the Road Fund shall continue until the Capital Projects
25 Fund has repaid to the Road Fund all transfers made from the
26 Road Fund pursuant to subsection (b). Notwithstanding any
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1 other law to the contrary, transfers to the Road Fund from the
2 Capital Projects Fund shall be made prior to any other
3 expenditures or transfers out of the Capital Projects Fund.
4 (Source: P.A. 103-7, eff. 7-1-23; 103-591, eff. 7-1-24; 104-8,
5 eff. 1-1-26.)
6 Article 10.
7 Section 10-5. The General Obligation Bond Act is amended
8 by changing Sections 2, 3, 4, 6, and 7 as follows:
9 (30 ILCS 330/2) (from Ch. 127, par. 652)
10 Sec. 2. Authorization for Bonds. The State of Illinois is
11 authorized to issue, sell and provide for the retirement of
12 General Obligation Bonds of the State of Illinois for the
13 categories and specific purposes expressed in Sections 2
14 through 8 of this Act, in the total amount of $85,137,839,969
15 $82,664,839,969.
16 The bonds authorized in this Section 2 and in Section 16 of
17 this Act are herein called "Bonds".
18 Of the total amount of Bonds authorized in this Act, up to
19 $2,200,000,000 in aggregate original principal amount may be
20 issued and sold in accordance with the Baccalaureate Savings
21 Act in the form of General Obligation College Savings Bonds.
22 Of the total amount of Bonds authorized in this Act, up to
23 $300,000,000 in aggregate original principal amount may be
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1 issued and sold in accordance with the Retirement Savings Act
2 in the form of General Obligation Retirement Savings Bonds.
3 Of the total amount of Bonds authorized in this Act, the
4 additional $10,000,000,000 authorized by Public Act 93-2, the
5 $3,466,000,000 authorized by Public Act 96-43, and the
6 $4,096,348,300 authorized by Public Act 96-1497 shall be used
7 solely as provided in Section 7.2.
8 Of the total amount of Bonds authorized in this Act, the
9 additional $6,000,000,000 authorized by Public Act 100-23
10 shall be used solely as provided in Section 7.6 and shall be
11 issued by December 31, 2017.
12 Of the total amount of Bonds authorized in this Act,
13 $2,200,000,000 of the additional amount authorized by Public
14 Act 100-587, Public Act 102-718, and Public Act 104-8 this
15 amendatory Act of the 104th General Assembly shall be used
16 solely as provided in Section 7.7.
17 The issuance and sale of Bonds pursuant to the General
18 Obligation Bond Act is an economical and efficient method of
19 financing the long-term capital needs of the State. This Act
20 will permit the issuance of a multi-purpose General Obligation
21 Bond with uniform terms and features. This will not only lower
22 the cost of registration but also reduce the overall cost of
23 issuing debt by improving the marketability of Illinois
24 General Obligation Bonds.
25 (Source: P.A. 103-7, eff. 7-1-23; 103-591, eff. 7-1-24; 104-8,
26 eff. 1-1-26.)
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1 (30 ILCS 330/3) (from Ch. 127, par. 653)
2 Sec. 3. Capital facilities. The amount of $23,642,011,269
3 $21,769,011,269 is authorized to be used for the acquisition,
4 development, construction, reconstruction, improvement,
5 demolition, financing, architectural planning and installation
6 of capital facilities within the State, consisting of
7 buildings, structures, durable equipment, land, interests in
8 land, and the costs associated with the purchase and
9 implementation of information technology, including but not
10 limited to the purchase of hardware and software, for the
11 following specific purposes:
12 (a) $7,408,676,500 $6,908,676,500 for educational
13 purposes by State universities and public community
14 colleges, the Illinois Community College Board created by
15 the Public Community College Act and for grants to public
16 community colleges as authorized by Sections 5-11 and 5-12
17 of the Public Community College Act;
18 (b) $2,590,506,300 for correctional purposes at State
19 prison and correctional centers;
20 (c) $751,492,300 for open spaces, recreational and
21 conservation purposes and the protection of land,
22 including expenditures and grants for the Illinois
23 Conservation Reserve Enhancement Program and for ecosystem
24 restoration and for plugging of abandoned wells;
25 (d) $1,078,503,900 for State child care facilities,
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1 mental and public health facilities, and facilities for
2 the care of veterans with disabilities and their spouses,
3 and for grants to public and private community health
4 centers, hospitals, and other health care providers for
5 capital facilities;
6 (e) $10,427,753,300 $9,054,753,300 for use by the
7 State, its departments, authorities, public corporations,
8 commissions and agencies, including renewable energy
9 upgrades at State facilities;
10 (f) $818,100 for cargo handling facilities at port
11 districts and for breakwaters, including harbor entrances,
12 at port districts in conjunction with facilities for small
13 boats and pleasure crafts;
14 (g) $425,457,000 for water resource management
15 projects, including flood mitigation and State dam and
16 waterway projects;
17 (h) $16,940,269 for the provision of facilities for
18 food production research and related instructional and
19 public service activities at the State universities and
20 public community colleges;
21 (i) $75,134,700 for grants by the Secretary of State,
22 as State Librarian, for central library facilities
23 authorized by Section 8 of the Illinois Library System Act
24 and for grants by the Capital Development Board to units
25 of local government for public library facilities;
26 (j) $25,000,000 for the acquisition, development,
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1 construction, reconstruction, improvement, financing,
2 architectural planning and installation of capital
3 facilities consisting of buildings, structures, durable
4 equipment and land for grants to counties, municipalities
5 or public building commissions with correctional
6 facilities that do not comply with the minimum standards
7 of the Department of Corrections under Section 3-15-2 of
8 the Unified Code of Corrections;
9 (k) $5,011,600 for grants by the Department of
10 Conservation for improvement or expansion of aquarium
11 facilities located on property owned by a park district;
12 (l) $599,590,000 to State agencies for grants to local
13 governments for the acquisition, financing, architectural
14 planning, development, alteration, installation, and
15 construction of capital facilities consisting of
16 buildings, structures, durable equipment, and land; and
17 (m) $237,127,300 for the Illinois Open Land Trust
18 Program as defined by the Illinois Open Land Trust Act.
19 The amounts authorized above for capital facilities may be
20 used for the acquisition, installation, alteration,
21 construction, or reconstruction of capital facilities and for
22 the purchase of equipment for the purpose of major capital
23 improvements which will reduce energy consumption in State
24 buildings or facilities.
25 (Source: P.A. 103-7, eff. 7-1-23; 103-591, eff. 7-1-24; 104-8,
26 eff. 1-1-26.)
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1 (30 ILCS 330/4) (from Ch. 127, par. 654)
2 Sec. 4. Transportation. The amount of $27,548,062,400
3 $27,048,062,400 is authorized for use by the Department of
4 Transportation for the specific purpose of promoting and
5 assuring rapid, efficient, and safe highway, air and mass
6 transportation for the inhabitants of the State by providing
7 monies, including the making of grants and loans, for the
8 acquisition, construction, reconstruction, extension and
9 improvement of the following transportation facilities and
10 equipment, and for the acquisition of real property and
11 interests in real property required or expected to be required
12 in connection therewith as follows:
13 (a) $11,921,354,200 for State highways, arterial highways,
14 freeways, roads, bridges, structures separating highways and
15 railroads and roads, bridges on roads maintained by counties,
16 municipalities, townships, or road districts, and grants to
17 counties, municipalities, townships, or road districts for
18 planning, engineering, acquisition, construction,
19 reconstruction, development, improvement, extension, and all
20 construction-related expenses of the public infrastructure and
21 other transportation improvement projects for the following
22 specific purposes:
23 (1) $9,819,221,200 for use statewide,
24 (2) $3,677,000 for use outside the Chicago urbanized
25 area,
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1 (3) $7,543,000 for use within the Chicago urbanized
2 area,
3 (4) $13,060,600 for use within the City of Chicago,
4 (5) $58,991,500 for use within the counties of Cook,
5 DuPage, Kane, Lake, McHenry and Will,
6 (6) $18,860,900 for use outside the counties of Cook,
7 DuPage, Kane, Lake, McHenry and Will, and
8 (7) $2,000,000,000 for use on projects included in
9 either (i) the FY09-14 Proposed Highway Improvement
10 Program as published by the Illinois Department of
11 Transportation in May 2008 or (ii) the FY10-15 Proposed
12 Highway Improvement Program to be published by the
13 Illinois Department of Transportation in the spring of
14 2009; except that all projects must be maintenance
15 projects for the existing State system with the goal of
16 reaching 90% acceptable condition in the system statewide
17 and further except that all projects must reflect the
18 generally accepted historical distribution of projects
19 throughout the State.
20 (b) $5,966,379,900 for rail facilities and for mass
21 transit facilities, as defined in Section 2705-305 of the
22 Department of Transportation Law, including rapid transit,
23 rail, bus and other equipment used in connection therewith by
24 the State or any unit of local government, special
25 transportation district, municipal corporation or other
26 corporation or public authority authorized to provide and
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1 promote public transportation within the State or 2 or more of
2 the foregoing jointly, for the following specific purposes:
3 (1) $4,387,063,600 statewide,
4 (2) $83,350,000 for use within the counties of Cook,
5 DuPage, Kane, Lake, McHenry and Will,
6 (3) $12,450,000 for use outside the counties of Cook,
7 DuPage, Kane, Lake, McHenry and Will, and
8 (4) $1,000,916,300 for use on projects that shall
9 reflect the generally accepted historical distribution of
10 projects throughout the State.
11 (c) $482,600,000 for airport or aviation facilities and
12 any equipment used in connection therewith, including
13 engineering and land acquisition costs, by the State or any
14 unit of local government, special transportation district,
15 municipal corporation or other corporation or public authority
16 authorized to provide public transportation within the State,
17 or 2 or more of the foregoing acting jointly.
18 (d) $5,160,328,300 $4,660,328,300 for use statewide for
19 State or local highways, arterial highways, freeways, roads,
20 bridges, and structures separating highways and railroads and
21 roads, and for grants to counties, municipalities, townships,
22 or road districts for planning, engineering, acquisition,
23 construction, reconstruction, development, improvement,
24 extension, and all construction-related expenses of the public
25 infrastructure and other transportation improvement projects
26 which are related to economic development in the State of
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1 Illinois.
2 (e) $4,500,000,000 for use statewide for grade crossings,
3 port facilities, airport facilities, rail facilities, and mass
4 transit facilities, as defined in Section 2705-305 of the
5 Department of Transportation Law of the Civil Administrative
6 Code of Illinois, including rapid transit, rail, bus and other
7 equipment used in connection therewith by the State or any
8 unit of local government, special transportation district,
9 municipal corporation or other corporation or public authority
10 authorized to provide and promote public transportation within
11 the State or 2 or more of the foregoing jointly.
12 (Source: P.A. 104-2, eff. 6-16-25.)
13 (30 ILCS 330/6) (from Ch. 127, par. 656)
14 Sec. 6. Anti-Pollution.
15 (a) The amount of $752,650,642 $611,814,300 is authorized
16 for allocation by the Environmental Protection Agency for
17 grants or loans to units of local government, including grants
18 to disadvantaged communities without modern sewage systems, in
19 such amounts, at such times and for such purpose as the Agency
20 deems necessary or desirable for the planning, financing, and
21 construction of sewage treatment works and solid waste
22 disposal facilities and for making of deposits into the Water
23 Revolving Fund (now the Clean Water State Revolving Fund and
24 the Drinking Water State Revolving Fund) and the U.S.
25 Environmental Protection Fund to provide assistance in
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1 accordance with the provisions of Title IV-A of the
2 Environmental Protection Act.
3 (b) The amount of $236,500,000 is authorized for
4 allocation by the Environmental Protection Agency for payment
5 of claims submitted to the State and approved for payment
6 under the Leaking Underground Storage Tank Program established
7 in Title XVI of the Environmental Protection Act.
8 (Source: P.A. 103-7, eff. 7-1-23.)
9 (30 ILCS 330/7) (from Ch. 127, par. 657)
10 Sec. 7. Coal and Energy Development. The amount of
11 $171,863,658 $212,700,000 is authorized to be used by the
12 Department of Commerce and Economic Opportunity (formerly
13 Department of Commerce and Community Affairs) for coal and
14 energy development purposes, pursuant to Sections 2, 3 and 3.1
15 of the Illinois Coal and Energy Development Bond Act, for the
16 purposes specified in Section 8.1 of the Energy Conservation
17 and Coal Development Act, for the purposes specified in
18 Section 605-332 of the Department of Commerce and Economic
19 Opportunity Law of the Civil Administrative Code of Illinois,
20 and for the purpose of facility cost reports prepared pursuant
21 to Sections 1-58 or 1-75(d)(4) of the Illinois Power Agency
22 Act and for the purpose of development costs pursuant to
23 Section 8.1 of the Energy Conservation and Coal Development
24 Act. Of this amount:
25 (a) $117,663,658 $128,500,000 is for the specific
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1 purposes of acquisition, development, construction,
2 reconstruction, improvement, financing, architectural and
3 technical planning and installation of capital facilities
4 consisting of buildings, structures, durable equipment,
5 and land for the purpose of capital development of coal
6 resources within the State and for the purposes specified
7 in Section 8.1 of the Energy Conservation and Coal
8 Development Act;
9 (b) $10,000,000 $20,000,000 is for the purposes
10 specified in Section 8.1 of the Energy Conservation and
11 Coal Development Act and making grants to generating
12 stations and coal gasification facilities within the State
13 of Illinois and to the owner of a generating station
14 located in Illinois and having at least three coal-fired
15 generating units with accredited summer capability greater
16 than 500 megawatts each at such generating station as
17 provided in Section 6 of that Bond Act;
18 (c) $13,200,000 is for research, development and
19 demonstration of forms of energy other than that derived
20 from coal, either on or off State property;
21 (d) $0 is for the purpose of providing financial
22 assistance to new electric generating facilities as
23 provided in Section 605-332 of the Department of Commerce
24 and Economic Opportunity Law of the Civil Administrative
25 Code of Illinois; and
26 (e) $31,000,000 $51,000,000 is for the purpose of
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1 facility cost reports prepared for not more than one
2 facility pursuant to Section 1-75(d)(4) of the Illinois
3 Power Agency Act and not more than one facility pursuant
4 to Section 1-58 of the Illinois Power Agency Act and for
5 the purpose of up to $6,000,000 of development costs
6 pursuant to Section 8.1 of the Energy Conservation and
7 Coal Development Act.
8 (Source: P.A. 103-7, eff. 7-1-23.)
9 Article 15.
10 Section 15-5. The Build Illinois Bond Act is amended by
11 changing Sections 2, 4, and 13 as follows:
12 (30 ILCS 425/2) (from Ch. 127, par. 2802)
13 Sec. 2. Authorization for Bonds. The State of Illinois is
14 authorized to issue, sell and provide for the retirement of
15 limited obligation bonds, notes and other evidences of
16 indebtedness of the State of Illinois in the total principal
17 amount of $13,464,881,100 $12,098,881,100 herein called
18 "Bonds". Such amount of authorized Bonds shall be exclusive of
19 any refunding Bonds issued pursuant to Section 15 of this Act
20 and exclusive of any Bonds issued pursuant to this Section
21 which are redeemed, purchased, advance refunded, or defeased
22 in accordance with paragraph (f) of Section 4 of this Act.
23 Bonds shall be issued for the categories and specific purposes
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1 expressed in Section 4 of this Act.
2 (Source: P.A. 103-7, eff. 7-1-23; 103-591, eff. 7-1-24; 104-8,
3 eff. 1-1-26.)
4 (30 ILCS 425/4) (from Ch. 127, par. 2804)
5 Sec. 4. Purposes of Bonds. Bonds shall be issued for the
6 following purposes and in the approximate amounts as set forth
7 below:
8 (a) $5,074,094,533 $4,873,094,533 for the expenses of
9 issuance and sale of Bonds, including bond discounts, and for
10 planning, engineering, acquisition, construction,
11 reconstruction, development, improvement, demolition, and
12 extension of the public infrastructure in the State of
13 Illinois, including: the making of loans or grants to local
14 governments for waste disposal systems, water and sewer lines
15 line extensions and water distribution and purification
16 facilities, rail or air or water port improvements, gas and
17 electric utility extensions, publicly owned industrial and
18 commercial sites, buildings used for public administration
19 purposes and other public infrastructure capital improvements;
20 the making of loans or grants to units of local government for
21 financing and construction of wastewater facilities, including
22 grants to serve unincorporated areas; refinancing or retiring
23 bonds issued between January 1, 1987 and January 1, 1990 by
24 home rule municipalities, debt service on which is provided
25 from a tax imposed by home rule municipalities prior to
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1 January 1, 1990 on the sale of food and drugs pursuant to
2 Section 8-11-1 of the Home Rule Municipal Retailers'
3 Occupation Tax Act or Section 8-11-5 of the Home Rule
4 Municipal Service Occupation Tax Act; the making of deposits
5 not to exceed $70,000,000 in the aggregate into the Water
6 Pollution Control Revolving Fund to provide assistance in
7 accordance with the provisions of Title IV-A of the
8 Environmental Protection Act; the planning, engineering,
9 acquisition, construction, reconstruction, alteration,
10 expansion, extension and improvement of highways, bridges,
11 structures separating highways and railroads, rest areas,
12 interchanges, access roads to and from any State or local
13 highway and other transportation improvement projects which
14 are related to economic development activities; the making of
15 loans or grants for planning, engineering, rehabilitation,
16 improvement or construction of rail and transit facilities;
17 the planning, engineering, acquisition, construction,
18 reconstruction and improvement of watershed, drainage, flood
19 control, recreation and related improvements and facilities,
20 including expenses related to land and easement acquisition,
21 relocation, control structures, channel work and clearing and
22 appurtenant work; the planning, engineering, acquisition,
23 construction, reconstruction and improvement of State
24 facilities and related infrastructure; the making of Park and
25 Recreational Facilities Construction (PARC) grants; the making
26 of grants to units of local government for community
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1 development capital projects; the making of grants for
2 improvement and development of zoos and park district field
3 houses and related structures; and the making of grants for
4 improvement and development of Navy Pier and related
5 structures; and the making of grants to units of local
6 government and school districts for permanent improvements, as
7 defined in Section 21 of the State Finance Act.
8 (b) $4,796,136,967 $4,101,136,967 for fostering economic
9 development and increased employment and fostering the well
10 being of the citizens of Illinois through community
11 development, including: the making of grants for improvement
12 and development of McCormick Place and related structures; the
13 planning and construction of a microelectronics research
14 center, including the planning, engineering, construction,
15 improvement, renovation and acquisition of buildings,
16 equipment and related utility support systems; the making of
17 loans to businesses and investments in small businesses;
18 acquiring real properties for industrial or commercial site
19 development; acquiring, rehabilitating and reconveying
20 industrial and commercial properties for the purpose of
21 expanding employment and encouraging private and other public
22 sector investment in the economy of Illinois; the payment of
23 expenses associated with siting the Superconducting Super
24 Collider Particle Accelerator in Illinois and with its
25 acquisition, construction, maintenance, operation, promotion
26 and support; the making of loans for the planning,
SB3255 Enrolled - 20 - LRB104 19081 KTG 32526 b
1 engineering, acquisition, construction, improvement and
2 conversion of facilities and equipment which will foster the
3 use of Illinois coal; the payment of expenses associated with
4 the promotion, establishment, acquisition and operation of
5 small business incubator facilities and agribusiness research
6 facilities, including the lease, purchase, renovation,
7 planning, engineering, construction and maintenance of
8 buildings, utility support systems and equipment designated
9 for such purposes and the establishment and maintenance of
10 centralized support services within such facilities; the
11 making of grants for transportation electrification
12 infrastructure projects that promote use of clean and
13 renewable energy; the making of capital expenditures and
14 grants for broadband development and for a statewide broadband
15 deployment grant program; the making of grants to public
16 entities and private persons and entities for community
17 development capital projects; the making of grants to public
18 entities and private persons and entities for capital projects
19 in the context of grant programs focused on assisting
20 economically depressed areas, expanding affordable and middle
21 housing, supporting the provision of human services,
22 supporting emerging technology enterprises, fostering the
23 advancement of quantum information science and technology, and
24 supporting minority owned businesses; and the making of grants
25 or loans to units of local government for Urban Development
26 Action Grant and Housing Partnership programs.
SB3255 Enrolled - 21 - LRB104 19081 KTG 32526 b
1 (c) $3,296,776,600 $2,846,776,600 for the development and
2 improvement of educational, scientific, technical and
3 vocational programs and facilities and the expansion of health
4 and human services for all citizens of Illinois, including:
5 the making of grants to school districts and not-for-profit
6 organizations for early childhood construction projects
7 pursuant to Section 5-300 of the School Construction Law; the
8 making of grants to educational institutions, for-profit
9 entities, and not-for-profit entities for educational,
10 scientific, technical and vocational program equipment and
11 facilities; the making of grants to museums for equipment and
12 facilities; the making of construction and improvement grants
13 and loans to public libraries and library systems; the making
14 of grants and loans for planning, engineering, acquisition and
15 construction of a new State central library in Springfield;
16 the planning, engineering, acquisition and construction of an
17 animal and dairy sciences facility; the planning, engineering,
18 acquisition and construction of a campus and all related
19 buildings, facilities, equipment and materials for Richland
20 Community College; the acquisition, rehabilitation and
21 installation of equipment and materials for scientific and
22 historical surveys; the making of grants or loans for
23 distribution to eligible vocational education instructional
24 programs for the upgrading of vocational education programs,
25 school shops and laboratories, including the acquisition,
26 rehabilitation and installation of technical equipment and
SB3255 Enrolled - 22 - LRB104 19081 KTG 32526 b
1 materials; the making of grants or loans for distribution to
2 eligible local educational agencies for the upgrading of math
3 and science instructional programs, including the acquisition
4 of instructional equipment and materials; miscellaneous
5 capital improvements for universities and community colleges
6 including the planning, engineering, construction,
7 reconstruction, remodeling, improvement, repair and
8 installation of capital facilities and costs of planning,
9 supplies, equipment, materials, services, and all other
10 required expenses; the making of grants or loans for repair,
11 renovation and miscellaneous capital improvements for
12 privately operated colleges and universities and community
13 colleges, including the planning, engineering, acquisition,
14 construction, reconstruction, remodeling, improvement, repair
15 and installation of capital facilities and costs of planning,
16 supplies, equipment, materials, services, and all other
17 required expenses; and the making of grants or loans for
18 distribution to local governments for hospital and other
19 health care facilities including the planning, engineering,
20 acquisition, construction, reconstruction, remodeling,
21 improvement, repair and installation of capital facilities and
22 costs of planning, supplies, equipment, materials, services
23 and all other required expenses.
24 (d) $297,873,000 $277,873,000 for protection,
25 preservation, restoration and conservation of environmental
26 and natural resources, including: the making of grants to soil
SB3255 Enrolled - 23 - LRB104 19081 KTG 32526 b
1 and water conservation districts for the planning and
2 implementation of conservation practices and for funding
3 contracts with the Soil Conservation Service for watershed
4 planning; the making of grants to units of local government
5 for the capital development and improvement of recreation
6 areas, including planning and engineering costs, sewer
7 projects, including planning and engineering costs and water
8 projects, including planning and engineering costs, and for
9 the acquisition of open space lands, including the acquisition
10 of easements and other property interests of less than fee
11 simple ownership; the making of grants to units of local
12 government through the Illinois Green Infrastructure Grant
13 Program to protect water quality and mitigate flooding; the
14 acquisition and related costs and development and management
15 of natural heritage lands, including natural areas and areas
16 providing habitat for endangered species and nongame wildlife,
17 and buffer area lands; the acquisition and related costs and
18 development and management of habitat lands, including forest,
19 wildlife habitat and wetlands; and the removal and disposition
20 of hazardous substances, including the cost of project
21 management, equipment, laboratory analysis, and contractual
22 services necessary for preventative and corrective actions
23 related to the preservation, restoration and conservation of
24 the environment, including deposits not to exceed $60,000,000
25 in the aggregate into the Hazardous Waste Fund and the
26 Brownfields Redevelopment Fund for improvements in accordance
SB3255 Enrolled - 24 - LRB104 19081 KTG 32526 b
1 with the provisions of Titles V and XVII of the Environmental
2 Protection Act.
3 (e) The amount specified in paragraph (a) above shall
4 include an amount necessary to pay reasonable expenses of each
5 issuance and sale of the Bonds, as specified in the related
6 Bond Sale Order (hereinafter defined).
7 (f) Any unexpended proceeds from any sale of Bonds which
8 are held in the Build Illinois Bond Fund may be used to redeem,
9 purchase, advance refund, or defease any Bonds outstanding.
10 (Source: P.A. 103-7, eff. 7-1-23; 103-591, eff. 7-1-24; 104-8,
11 eff. 1-1-26.)
12 (30 ILCS 425/13) (from Ch. 127, par. 2813)
13 Sec. 13. Computation of principal and interest; transfer
14 from Build Illinois Bond Account; payment from Build Illinois
15 Bond Retirement and Interest Fund. Upon each delivery of
16 Bonds authorized to be issued under this Act, the trustee
17 under the Master Indenture shall compute and certify to the
18 Director of the Governor's Office of Management and Budget,
19 the Comptroller and the Treasurer (a) the total amount of the
20 principal of and the interest and the premium, if any, on the
21 Bonds then being issued and on Bonds previously issued and
22 outstanding that will be payable in order to retire such Bonds
23 at their stated maturities or mandatory sinking fund payment
24 dates and (b) the amount of principal of and interest and
25 premium, if any, on such Bonds that will be payable on each
SB3255 Enrolled - 25 - LRB104 19081 KTG 32526 b
1 principal, interest and mandatory sinking fund payment date
2 according to the tenor of such Bonds during the then current
3 and each succeeding fiscal year. Such certifications shall
4 include with respect to interest payable on Variable Rate
5 Bonds the maximum amount of interest which may be payable for
6 the relevant period after taking into account any credits
7 permitted in the related indenture against the amount of such
8 interest required to be appropriated for such period pursuant
9 to subsection (c) of Section 11 of this Act.
10 On or before June 20, 1993 and on or before each June 20
11 thereafter so long as Bonds remain outstanding, the trustee
12 under the Master Indenture shall deliver to the Director of
13 the Governor's Office of Management and Budget (formerly
14 Bureau of the Budget), the Comptroller and the Treasurer a
15 certificate setting forth the "Certified Annual Debt Service
16 Requirement" (hereinafter defined) for the next succeeding
17 fiscal year. If Bonds are issued subsequent to the delivery of
18 any such certificate, upon the issuance of such Bonds the
19 trustee under the Master Indenture shall deliver a
20 supplemental certificate setting forth the revisions, if any,
21 in the Certified Annual Debt Service Requirement resulting
22 from the issuance of such Bonds. The "Certified Annual Debt
23 Service Requirement" for any fiscal year shall be an amount
24 equal to (a) the aggregate amount of principal, interest and
25 premium, if any, payable on outstanding Bonds during such
26 fiscal year plus (b) the amount required to be deposited into
SB3255 Enrolled - 26 - LRB104 19081 KTG 32526 b
1 any reserve fund securing such Bonds or for the purpose of
2 retiring or defeasing such Bonds plus (c) the amount of any
3 deficiencies in required transfers of amounts described in
4 clauses (a) and (b) for any prior fiscal year, minus (d) the
5 amount, if any, of such interest to be paid from Bond proceeds
6 on deposit under any indenture; provided, however, that
7 interest payable on Variable Rate Bonds shall be calculated at
8 the maximum rate of interest which may be payable during such
9 fiscal year after taking into account any credits permitted in
10 the related indenture against the amount of such interest
11 required to be appropriated for such period pursuant to
12 subsection (c) of Section 11 of this Act.
13 In each month during fiscal years 1986 through 1993, the
14 State Treasurer and Comptroller shall transfer, on the last
15 day of such month, from the Build Illinois Bond Account to the
16 Build Illinois Bond Retirement and Interest Fund and shall
17 make payment from the Build Illinois Bond Retirement and
18 Interest Fund to the trustee under the Master Indenture of an
19 amount equal to 1/12 of 150% of the amount set forth below for
20 each such fiscal year, plus any cumulative deficiency in such
21 transfers and payments for prior months; provided that such
22 transfers shall commence in October, 1985 and such amounts for
23 fiscal year 1986 shall equal 1/9 of 150% of the amount set
24 forth below for such fiscal year:
25 Fiscal Year Amount
26 1986 $15,000,000
SB3255 Enrolled - 27 - LRB104 19081 KTG 32526 b
1 1987 $25,000,000
2 1988 $40,000,000
3 1989 $54,000,000
4 1990 $85,400,000
5 1991 $133,600,000
6 1992 $164,400,000
7 1993 $188,900,000
8 provided that payments of such amounts from the Build Illinois
9 Bond Retirement and Interest Fund to the trustee under the
10 Master Indenture shall commence on the last day of the month in
11 which Bonds are initially issued under this Act; and, further
12 provided, that the first such payment to said trustee shall
13 equal the entire amount then on deposit in the Build Illinois
14 Bond Retirement and Interest Fund; and, further provided, that
15 the aggregate amount of transfers and payments for any such
16 fiscal year shall not exceed the amount set forth above for
17 such fiscal year.
18 In each month in which Bonds are outstanding during fiscal
19 year 1994 and each fiscal year thereafter, the State Treasurer
20 and Comptroller shall transfer, on the last day of such month,
21 (i) with respect to Bonds constituting bonds issued pursuant
22 to the bond authorization under this Act enacted pursuant to
23 Public Act 96-36, Public Act 96-1554, Public Act 98-94, and
24 Public Act 103-591, and this amendatory Act of the 104th
25 General Assembly, (and any refunding Bonds issued to refund
26 such Bonds), first from the Capital Projects Fund and second,
SB3255 Enrolled - 28 - LRB104 19081 KTG 32526 b
1 if needed, from the Build Illinois Bond Account and (ii) with
2 respect to all other Bonds not described in clause (i), from
3 the Build Illinois Bond Account, in each case, to the Build
4 Illinois Bond Retirement and Interest Fund and shall make
5 payment from the Build Illinois Bond Retirement and Interest
6 Fund to the trustee under the Master Indenture of an amount
7 equal to the greater of (a) 1/12th of 150% of the Certified
8 Annual Debt Service Requirement or (b) the Tax Act Amount (as
9 defined in Section 3 of the "Retailers' Occupation Tax Act",
10 as amended) deposited in the Build Illinois Bond Account
11 during such month, plus any cumulative deficiency in such
12 transfers and payments for prior months; provided that such
13 transfers and payments for any such fiscal year shall not
14 exceed the greater of (a) the Certified Annual Debt Service
15 Requirement or (b) the Tax Act Amount.
16 (Source: P.A. 103-591, eff. 7-1-24; 104-8, eff. 1-1-26.)
17 Article 99.
18 Section 99-99. Effective date. This Act takes effect upon
19 becoming law.Every fact on this page links to its source, starting with the official bill record.