FINANCE-BONDS-SPENDING LIMIT Senate SponsorsSen. Kyle McCarter-Dan McConchie 1/9/2019SenateSession Sine Die 20 ILCS 3501/801-4030 ILCS 105/5.878 new30 ILCS 105/14.3 new30 ILCS 330/2from Ch. 127, par. 65230 ILCS 330/2.530 ILCS 330/7.6 new30 ILCS 330/7.7 new30 ILCS 330/9from Ch. 127, par. 65930 ILCS 330/11from Ch. 127, par. 66130 ILCS 330/12from Ch. 127, par. 66230 ILCS 330/13from Ch. 127, par. 66340 ILCS 15/1.10 newAmends the Illinois Finance Authority Act. Authorizes the Illinois Finance Authority to issue bonds if the amount of accelerated pension benefit payments exceeds the amount appropriated to each pension system for those payments. Amends the General Obligation Bond Act. Authorizes the issuance of an additional $7,000,000,000 in State General Obligation Restructuring Bonds. Provides that the proceeds from that bond sale shall be used for the purpose of paying vouchers incurred by the State prior to July 1, 2017. Authorizes $250,000,000 in State Pension Obligation Acceleration Bonds to be sold to pay for accelerated pension benefit payments to eligible persons. Amends the State Pension Funds Continuing Appropriation Act to create a continuing appropriation for payments on those Bonds. Amends the State Finance Act. Provides that, if State spending exceeds $31,374,000,000, then no member of the General Assembly shall receive any compensation for his or her service as a member of the General Assembly, including any salary, stipend, or per diem, for the remainder of the fiscal year or until such time as the Governor is presented with a bill or bills passed by the General Assembly to reduce State spending to a level that does not exceed the State spending limitation. Effective immediately. 4/27/2017SenateFiled with Secretary by Sen. Kyle McCarter 4/27/2017SenateFirst Reading 4/27/2017SenateReferred to Assignments 4/28/2017SenateAdded as Chief Co-Sponsor Sen. Dan McConchie 1/9/2019SenateSession Sine Die