Chapter 30 — FINANCE

(30 ILCS 320/7) (from Ch. 102, par. 67) Sec. 7. If any provision of this Act or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of the Act which can be given effect without the invalid provisi…

(30 ILCS 320/8) (from Ch. 102, par. 68) Sec. 8. All acts and parts of acts inconsistent with the provisions of this Act are hereby repealed. (Source: Laws 1959, p. 1497.)

(30 ILCS 330/1) (from Ch. 127, par. 651) Sec. 1. Short Title. This Act shall be known and may be cited as the "General Obligation Bond Act". (Source: P.A. 92-13, eff. 6-22-01.)

(30 ILCS 330/1.5) Sec. 1.5. Re-enactment; findings; purpose; validation. (a) The General Assembly finds and declares that: (1) Article IV of Public Act 85-1135, effective July 28, 1988, contained provisions amending or creating Sections 2, 3, 16, and 20 of the General Obligation …

(30 ILCS 330/10) (from Ch. 127, par. 660) Sec. 10. Execution of Bonds. Bonds shall be signed by the Governor and attested by the Secretary of State under the printed facsimile seal of the State and countersigned by the State Treasurer by his manual signature or by his duly author…

(30 ILCS 330/11) (from Ch. 127, par. 661) Sec. 11. Sale of Bonds. Except as otherwise provided in this Section, Bonds shall be sold from time to time pursuant to notice of sale and public bid or by negotiated sale in such amounts and at such times as is directed by the Governor, …

(30 ILCS 330/12) (from Ch. 127, par. 662) Sec. 12. Allocation of proceeds from sale of Bonds. (a) Proceeds from the sale of Bonds, authorized by Section 3 of this Act, shall be deposited in the separate fund known as the Capital Development Fund, a special fund that was created u…

(30 ILCS 330/13) (from Ch. 127, par. 663) Sec. 13. Appropriation of proceeds from sale of Bonds. (a) At all times, the proceeds from the sale of Bonds issued pursuant to this Act are subject to appropriation by the General Assembly and, except as provided in Sections 7.2, 7.6, an…

(30 ILCS 330/14) (from Ch. 127, par. 664) Sec. 14. Repayment. (a) To provide for the manner of repayment of Bonds, the Governor shall include an appropriation in each annual State Budget of monies in such amount as shall be necessary and sufficient, for the period covered by such…

(30 ILCS 330/15) (from Ch. 127, par. 665) Sec. 15. Computation of principal and interest; transfers. (a) Upon each delivery of Bonds authorized to be issued under this Act, the Comptroller shall compute and certify to the Treasurer the total amount of principal of, interest on, a…

(30 ILCS 330/15.5) Sec. 15.5. Compliance with the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Notwithstanding any other provision of law, the Governor's Office of Management and Budget shall comply with the Business Enterprise for Minorities, Wom…

(30 ILCS 330/16) (from Ch. 127, par. 666) Sec. 16. Refunding Bonds. The State of Illinois is authorized to issue, sell, and provide for the retirement of General Obligation Bonds of the State of Illinois in the amount of $4,839,025,000, at any time and from time to time outstandi…

(30 ILCS 330/17) (from Ch. 127, par. 667) Sec. 17. Bonds as General Obligations of the State. All Bonds issued in accordance with the provisions of this Act shall be direct, general obligations of the State of Illinois and shall so state on the face thereof, and the full faith an…

(30 ILCS 330/18) (from Ch. 127, par. 668) Sec. 18. Compel Payment-Remedies of Bondholders. If the State fails to pay the principal of or interest on any of the Bonds or premium, if any, as the same become due, a civil action to compel payment may be instituted in the Supreme Cour…

(30 ILCS 330/19) (from Ch. 127, par. 669) Sec. 19. Investment of money not needed for current expenditures; application of earnings. (a) The State Treasurer may, with the Governor's approval, invest and reinvest any money from the Capital Development Fund, the Transportation Bond…

(30 ILCS 330/2) (from Ch. 127, par. 652) Sec. 2. Authorization for Bonds. The State of Illinois is authorized to issue, sell and provide for the retirement of General Obligation Bonds of the State of Illinois for the categories and specific purposes expressed in Sections 2 throug…

(30 ILCS 330/2.5) Sec. 2.5. Limitation on issuance of Bonds. (a) Except as provided in subsection (b), no Bonds may be issued if, after the issuance, in the next State fiscal year after the issuance of the Bonds, the amount of debt service (including principal, whether payable at…

(30 ILCS 330/20) (from Ch. 127, par. 669a) Sec. 20. A separate fund in the State treasury called the "General Obligation Bond Rebate Fund" is hereby created. The State Treasurer is hereby authorized to create such separate accounts within the General Obligation Bond Rebate Fund f…

(30 ILCS 330/21) Sec. 21. Truth in borrowing disclosures. (a) Within 20 business days after the issuance of any Bonds under this Act, the Director of the Governor's Office of Management and Budget shall publish a truth in borrowing disclosure that discloses the total principal an…

(30 ILCS 330/27) (from Ch. 127, par. 670) Sec. 27. This Act takes effect upon its becoming a law. (Source: P.A. 83-1490.)

(30 ILCS 330/3) (from Ch. 127, par. 653) Sec. 3. Capital facilities. The amount of $21,769,011,269 is authorized to be used for the acquisition, development, construction, reconstruction, improvement, demolition, financing, architectural planning and installation of capital facil…

(30 ILCS 330/4) (from Ch. 127, par. 654) Sec. 4. Transportation. The amount of $27,048,062,400 is authorized for use by the Department of Transportation for the specific purpose of promoting and assuring rapid, efficient, and safe highway, air and mass transportation for the inha…

(30 ILCS 330/5) (from Ch. 127, par. 655) Sec. 5. School construction. (a) The amount of $58,450,000 is authorized to make grants to local school districts for the acquisition, development, construction, reconstruction, rehabilitation, improvement, financing, architectural plannin…

(30 ILCS 330/6) (from Ch. 127, par. 656) Sec. 6. Anti-Pollution. (a) The amount of $611,814,300 is authorized for allocation by the Environmental Protection Agency for grants or loans to units of local government, including grants to disadvantaged communities without modern sewag…

(30 ILCS 330/7) (from Ch. 127, par. 657) Sec. 7. Coal and Energy Development. The amount of $212,700,000 is authorized to be used by the Department of Commerce and Economic Opportunity (formerly Department of Commerce and Community Affairs) for coal and energy development purpose…

(30 ILCS 330/7.2) Sec. 7.2. State pension funding. (a) The amount of $10,000,000,000 is authorized to be used for the purpose of making contributions to the designated retirement systems. For the purposes of this Section, "designated retirement systems" means the State Employees'…

(30 ILCS 330/7.3) Sec. 7.3. Medicaid enhancement funding. The amount of $250,000,000 is authorized to be issued only during fiscal year 2010 for the making of deposits into the Healthcare Provider Relief Fund for the exclusive purpose of funding Medicaid services subject to the e…

(30 ILCS 330/7.5) Sec. 7.5. Tobacco securitization general obligation bonds. The amount of $750,000,000 is authorized to be issued only during fiscal year 2003 for the making of deposits of 50% of net proceeds to the General Revenue Fund to build the fiscal year ending general fu…

(30 ILCS 330/7.6) Sec. 7.6. Income Tax Proceed Bonds. (a) As used in this Act, "Income Tax Proceed Bonds" means Bonds (i) authorized by Public Act 100-23 or any other Public Act of the 100th or 101st General Assembly authorizing the issuance of Income Tax Proceed Bonds and (ii) u…

(30 ILCS 330/7.7) Sec. 7.7. State Pension Obligation Acceleration Bonds. (a) As used in this Act, "State Pension Obligation Acceleration Bonds" means Bonds authorized by Public Act 100-587, Public Act 102-718, and this amendatory Act of the 104th General Assembly and used for the…

(30 ILCS 330/8) (from Ch. 127, par. 658) Sec. 8. Bond sale expenses. (a) An amount not to exceed 0.5 percent of the principal amount of the proceeds of sale of each bond sale is authorized to be used to pay the reasonable costs of each issuance and sale of State of Illinois gener…

(30 ILCS 330/9) (from Ch. 127, par. 659) Sec. 9. Conditions for issuance and sale of Bonds; requirements for Bonds. (a) Except as otherwise provided in this subsection, subsection (h), and subsection (i), Bonds shall be issued and sold from time to time, in one or more series, in…

(30 ILCS 335/0.01) (from Ch. 127, par. 330) Sec. 0.01. Short title. This Act may be cited as the General Obligation Bond Investment Act. (Source: P.A. 86-1324.)

(30 ILCS 335/1) (from Ch. 127, par. 331) Sec. 1. Counties, cities, villages, incorporate towns, and other municipal corporations, political subdivisions and public bodies, and public officers of any thereof, all banks, bankers, trust companies, savings banks and institutions, bui…

(30 ILCS 335/2) (from Ch. 127, par. 332) Sec. 2. Nothing in this Act shall be construed as relieving any officer, person, firm or corporation from any duty of using reasonable care in selecting investments. (Source: Laws 1963, p. 761.)

(30 ILCS 340/0.01) (from Ch. 120, par. 405H) Sec. 0.01. Short title. This Act may be cited as the Short Term Borrowing Act. (Source: P.A. 88-669, eff. 11-29-94; 93-1046, eff. 10-15-04.)

(30 ILCS 340/1) (from Ch. 120, par. 406) Sec. 1. Cash flow borrowing. Whenever significant timing variations occur between disbursement and receipt of budgeted funds within a fiscal year, making it necessary to borrow in anticipation of revenues to be collected in a fiscal year, …

(30 ILCS 340/1.1) Sec. 1.1. Borrowing upon emergencies or failures in revenue. Whenever emergencies or failures in revenues of the State occur, in order to meet deficits caused by those emergencies or failures, the Governor, Comptroller, and Treasurer may contract debts in an amo…

(30 ILCS 340/2) (from Ch. 120, par. 407) Sec. 2. Sale of certificates. For borrowing authorized under Sections 1 and 1.1 of this Act, certificates may be issued and sold from time to time, in one or more series, in amounts, at prices and at interest rates, all as directed by the …

(30 ILCS 340/3) (from Ch. 120, par. 408) Sec. 3. There shall be prepared under the direction of the officers named in this Act such form of certificates as they shall deem advisable, which, when issued, shall be signed by the Governor, Comptroller and Treasurer, and shall be reco…

(30 ILCS 343/1) Sec. 1. Short title. This Act may be cited as the Coronavirus Urgent Remediation Emergency Borrowing Act or the CURE Borrowing Act. (Source: P.A. 101-630, eff. 5-29-20.)

(30 ILCS 343/10) Sec. 10. Borrowing authorized. (a) Borrowing under this Section is authorized under subsection (b) of Section 9 of Article IX of the Illinois Constitution. The Governor, with the approval of the Comptroller and Treasurer, is authorized to borrow funds from the Fe…

(30 ILCS 343/15) Sec. 15. Borrowing process. (a) Whenever the borrowing of money under Section 10 is contemplated, the Director of the Governor's Office of Management and Budget, acting at the direction of the Governor, shall prepare for such borrowing in one or more series, in a…

(30 ILCS 343/20) Sec. 20. Bonds, notes, certificates or other facilities; appropriation. (a) There shall be prepared, under the direction of the Governor, the form of bonds, notes, certificates or other facilities that the Governor deems advisable for borrowing pursuant to this A…

(30 ILCS 343/5) Sec. 5. Findings and purpose. The General Assembly finds that: The State of Illinois is in the midst of both a public health emergency and a resultant fiscal crisis. The sudden worldwide outbreak of the Coronavirus Disease 2019 (COVID-19) and the spread of the dis…

(30 ILCS 343/50) Sec. 50. (Amendatory provisions; text omitted). (Source: P.A. 101-630, eff. 5-29-20; text omitted.)

(30 ILCS 343/55) Sec. 55. (Amendatory provisions; text omitted). (Source: P.A. 101-630, eff. 5-29-20; text omitted.)

(30 ILCS 343/99) Sec. 99. Effective date. This Act takes effect upon becoming law. (Source: P.A. 101-630, eff. 5-29-20.)

(30 ILCS 345/1) (from Ch. 17, par. 6851) Sec. 1. Short title. This Act shall be known and may be cited as the "Illinois Private Activity Bond Allocation Act". (Source: P.A. 84-952.)

(30 ILCS 345/2) (from Ch. 17, par. 6852) Sec. 2. Public policy. The General Assembly has determined that the federal government has imposed certain restrictions on the aggregate amount of private activity bonds, the interest on which is not included in federal gross income for pu…