FINANCE-TECH Senate SponsorsSen. Jeffrey M. Schoenberg-Donne E. Trotter-Jacqueline Y. Collins House Sponsors(Rep. Michael J. Madigan-Gary Hannig) 6/6/2006SenatePublic Act . . . . . . . . . 94-0839 30 ILCS 305/0.01from Ch. 17, par. 6600Amends the Bond Authorization Act. Makes a technical change in a Section concerning the short title.Senate Committee Amendment No. 1 Deletes reference to:30 ILCS 305/0.01Adds reference to:70 ILCS 510/9from Ch. 85, par. 620970 ILCS 515/9from Ch. 85, par. 6509Deletes everything after the enacting clause. Amends the Quad Cities Regional Economic Development Authority Acts. Provides that the total outstanding bonds and notes of the Quad Cities Regional Economic Development Authority may not exceed $250 million (now, $100 million).House Amendment No. 1 Adds reference to:20 ILCS 3501/825-13 new70 ILCS 510/8from Ch. 85, par. 620870 ILCS 510/9.1from Ch. 85, par. 6209.170 ILCS 510/15from Ch. 85, par. 621570 ILCS 515/8from Ch. 85, par. 650870 ILCS 515/9.1from Ch. 85, par. 6509.170 ILCS 515/14from Ch. 85, par. 6514Deletes everything after the enacting clause. Amends the Illinois Finance Authority Act, the Quad Cities Regional Economic Development Authority Act, approved September 22, 1987, and the Quad Cities Regional Economic Development Authority Act, certified December 30, 1987. Provides that all bond issuances of the Quad Cities Regional Economic Development Authority are subject to supervision, management, control, and approval of the Illinois Finance Authority. States that certain provisions concerning the State's moral obligation for the bonds of the regional development authority apply only with respect to bonds issued before the effective date of this amendatory Act. Provides that the total outstanding bonds and notes of the Quad Cities Regional Economic Development Authority may not exceed $250 million (now, $100 million). Provides that the regional development authority may not designate territory for certification as an enterprise zone on or after the effective date of this amendatory Act. Effective immediately.House Amendment No. 2 Deletes reference to:20 ILCS 3501/825-13 new70 ILCS 510/870 ILCS 510/9.170 ILCS 510/1570 ILCS 515/870 ILCS 515/9.170 ILCS 515/14Adds reference to:5 ILCS 375/6.105 ILCS 375/10from Ch. 127, par. 5305 ILCS 375/13.1from Ch. 127, par. 533.120 ILCS 605/605-812 new20 ILCS 687/6-420 ILCS 689/2020 ILCS 1705/18.420 ILCS 3948/5020 ILCS 3958/1020 ILCS 3958/1520 ILCS 3958/2020 ILCS 3958/2525 ILCS 120/2from Ch. 63, par. 90230 ILCS 105/5.663 new30 ILCS 105/6p-530 ILCS 105/6z-3230 ILCS 105/6z-6330 ILCS 105/6z-6430 ILCS 105/8.3from Ch. 127, par. 144.330 ILCS 105/8.16c30 ILCS 105/8.4330 ILCS 105/8.4430 ILCS 105/8.45 new30 ILCS 105/8.5530 ILCS 105/8g30 ILCS 105/8h30 ILCS 105/13.2from Ch. 127, par. 149.230 ILCS 105/5.344 rep.30 ILCS 122/1030 ILCS 122/1530 ILCS 122/20 new30 ILCS 122/25 new35 ILCS 5/901from Ch. 120, par. 9-90135 ILCS 130/2from Ch. 120, par. 453.235 ILCS 505/8from Ch. 120, par. 42440 ILCS 5/2-124from Ch. 108 1/2, par. 2-12440 ILCS 5/14-108.640 ILCS 5/14-131from Ch. 108 1/2, par. 14-13140 ILCS 5/15-155from Ch. 108 1/2, par. 15-15540 ILCS 5/16-158from Ch. 108 1/2, par. 16-15840 ILCS 5/18-131from Ch. 108 1/2, par. 18-13140 ILCS 15/1.7 new70 ILCS 3615/4.13from Ch. 111 2/3, par. 704.13105 ILCS 5/3-12from Ch. 122, par. 3-12230 ILCS 10/13from Ch. 120, par. 2413305 ILCS 5/5A-8from Ch. 23, par. 5A-8310 ILCS 65/8from Ch. 67 1/2, par. 1258625 ILCS 5/18c-1603from Ch. 95 1/2, par. 18c-1603625 ILCS 5/18c-1604from Ch. 95 1/2, par. 18c-1604725 ILCS 185/33from Ch. 38, par. 333730 ILCS 5/3-14-6730 ILCS 5/5-9-1.8730 ILCS 110/15from Ch. 38, par. 204-7730 ILCS 110/15.1from Ch. 38, par. 204-7.1735 ILCS 5/2-1009Afrom Ch. 110, par. 2-1009A820 ILCS 305/4from Ch. 48, par. 138.430 ILCS 105/5.664 new30 ILCS 605/7b30 ILCS 605/7c new40 ILCS 5/22-101from Ch. 108 1/2, par. 22-10140 ILCS 5/22-103 new70 ILCS 3615/4.02from Ch. 111 2/3, par. 704.0270 ILCS 3615/4.02a new70 ILCS 3615/4.02b newDeletes everything after the enacting clause. Creates the FY2007 Budget Implementation (Finance) Act. Amends various Acts to make changes in State programs that are necessary to implement the Governor's FY2007 budget recommendation concerning finance. Effective immediately.State Mandates Fiscal Note (H-AM 2)(Dept of Commerce & Economic Opportunity) This legislation does not impose requirements on units of local government, therefore, does not create a State mandate under the State Mandates Act.Home Rule Note (H-AM 2) (Dept. of Commerce & Econ Opportunity.) Does not pre-empt home rule authority.Balanced Budget Note (H-AM 2)(Gov's Office of Mgmt and Budget) The Governor's Office of Management and Budget estimates that this bill, if enacted into law, will allow the State to enact a balanced budget in fiscal year 2007.Fiscal Note (H-AM 2)(Gov's Office of Mgmt and Budget) The Governor's Office of Management and Budget estimates that this bill, if enacted into law, will have a fiscal impact of at least $240 million, which will be necessary to enact a balanced budget.State Debt Impact Note (H-AM 2) (Com. on Gov. Forecasting & Accountability) Would not affect the level of state indebtedness.Pension Note (H-AM 2) (Com. on Gov. Forecasting & Accountability) Pension Stabilization Fund: According to the Commission's FY 2007 Revenue Forecast, general funds revenues are expected to grow by 2.7% over estimated FY 2006 receipts. Therefore, no transfer of funds to the Pension Stabilization Fund would occur in FY 2007. Alternative Retirement Cancellation Payment: The State Employees' Retirement System would realize an actuarial gain when some members chose the ARCP payment, as accrued liability associated with that member, which would be eliminated, would be larger than the enhanced refund. The same ARCP payment option was offered to members of SERS in 2005, and 293 SERS members choose to participate. The system made ARCP payments of $12.2 million and $14.6 million in SERS liability was eliminated. Chicago Transit Authority Pension Funding: The Chicago Transit Authority Pension Fund's actuary has determined that the fund's assets will be exhausted by 2012 without significant increased contributions and changes to the funding structure and benefit levels. Judicial Note (H-AM 2)(Admin Office of the Illinois Courts) This legislation would neither increase nor decrease the number of judges needed in the State of Illinois.Housing Affordability Impact Note (H-AM 2)(Housing Development Authority) This legislation will have no effect on constructing, purchasing, owning, or selling a single-family residence. Judicial Note (H-AM 2)(Admin Office of the Illinois Courts) Based on a review of this bill, it has been determined that this legislation would neither increase nor decrease the number of judges needed in the State. 2/25/2005SenateFiled with Secretary by Sen. Mike Jacobs 2/25/2005SenateFirst Reading 2/25/2005SenateReferred to Rules 3/2/2005SenateAssigned to Executive 3/9/2005SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Mike Jacobs 3/9/2005SenateSenate Committee Amendment No. 1 Referred to Rules 3/9/2005SenateSenate Committee Amendment No. 1 Rules Refers to Executive 3/9/2005SenateSenate Committee Amendment No. 1 Adopted 3/10/2005SenateDo Pass as Amended Executive; 010-001-000 3/10/2005SenatePlaced on Calendar Order of 2nd Reading March 15, 2005 4/6/2005SenateSecond Reading 4/6/2005SenatePlaced on Calendar Order of 3rd Reading April 7, 2005 4/8/2005SenateAdded as Chief Co-Sponsor Sen. Dale E. Risinger 4/11/2005SenateThird Reading - Passed; 042-009-000 4/11/2005HouseArrived in House 4/11/2005HousePlaced on Calendar Order of First Reading 4/11/2005HouseChief House Sponsor Rep. Patrick J Verschoore 4/11/2005HouseFirst Reading 4/11/2005HouseReferred to Rules Committee 4/20/2005HouseAssigned to Executive Committee 5/10/2005HouseAdded Alternate Chief Co-Sponsor Rep. Donald L. Moffitt 5/13/2005HouseCommittee/Final Action Deadline Extended-9(b) May 27, 2005 5/18/2005HouseHouse Amendment No. 1 Filed with Clerk by Executive Committee 5/18/2005HouseHouse Amendment No. 1 Adopted in Executive Committee; by Voice Vote 5/18/2005HouseDo Pass as Amended / Short Debate Executive Committee; 008-001-001 5/18/2005HousePlaced on Calendar 2nd Reading - Short Debate 5/24/2005HouseFinal Action Deadline Extended-9(b) May 31, 2005 5/26/2005HouseSecond Reading - Short Debate 5/26/2005HouseHeld on Calendar Order of Second Reading - Short Debate 5/31/2005HouseRule 19(a) / Re-referred to Rules Committee 11/3/2005HouseFinal Action Deadline Extended-9(b) January 11, 2006 11/3/2005HouseApproved for Consideration Rules Committee; 004-000-000 11/3/2005HousePlaced on Calendar 2nd Reading - Short Debate 11/4/2005HouseAlternate Chief Sponsor Changed to Rep. Michael J. Madigan 1/11/2006HouseRule 19(b) / Re-referred to Rules Committee 4/10/2006HouseFinal Action Deadline Extended-9(b) April 13, 2006 4/10/2006HouseApproved for Consideration Rules Committee; 003-001-000 4/10/2006HousePlaced on Calendar 2nd Reading - Short Debate 4/13/2006HouseFinal Action Deadline Extended-9(b) April 30, 2006 4/30/2006HouseFinal Action Deadline Extended-9(b) May 5, 2006 5/2/2006HouseAdded Alternate Chief Co-Sponsor Rep. Gary Hannig 5/2/2006HouseHouse Amendment No. 2 Filed with Clerk by Rep. Gary Hannig 5/2/2006HouseHouse Amendment No. 2 Referred to Rules Committee 5/2/2006SenateChief Sponsor Changed to Sen. Jeffrey M. Schoenberg 5/2/2006HouseHouse Amendment No. 2 Rules Refers to Executive Committee 5/2/2006HouseAlternate Chief Co-Sponsor Removed Rep. Donald L. Moffitt 5/2/2006HouseHouse Amendment No. 2 Recommends Be Adopted Executive Committee; 008-005-000 5/3/2006SenateSponsor Removed Sen. Dale E. Risinger 5/3/2006HouseState Mandates Fiscal Note Filed As Amended by HA 2 5/3/2006HouseHome Rule Note Filed As Amended by HA 2 5/3/2006HouseBalanced Budget Note Filed As Amended by HA 2 5/3/2006HouseFiscal Note Filed As Amended by HA 2 5/3/2006HouseState Debt Impact Note Filed As Amended by HA 2 5/3/2006HousePension Note Filed As Amended by HA 2 5/3/2006HouseJudicial Note Filed As Amended by HA 2 5/3/2006HouseHouse Amendment No. 2 Adopted by Voice Vote 5/3/2006HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/3/2006HouseChair Rules Bill be Placed on Unlimited Debate Status 5/3/2006HousePlaced on Calendar Order of 3rd Reading - Unlimited Debate 5/3/2006HouseThird Reading - Unlimited Debate - Passed 063-050-000 5/3/2006SenateSecretary's Desk - Concurrence House Amendment(s) 01,02 5/3/2006SenatePlaced on Calendar Order of Concurrence House Amendment(s) 01,02-May 4, 2006 5/3/2006SenateHouse Amendment No. 1 Motion to Concur Filed with Secretary Sen. Jeffrey M. Schoenberg 5/3/2006SenateHouse Amendment No. 1 Motion to Concur Referred to Rules 5/3/2006SenateHouse Amendment No. 2 Motion to Concur Filed with Secretary Sen. Jeffrey M. Schoenberg 5/3/2006SenateHouse Amendment No. 2 Motion to Concur Referred to Rules 5/3/2006SenateHouse Amendment No. 1 Motion to Concur Rules Referred to Executive 5/3/2006SenateHouse Amendment No. 2 Motion to Concur Rules Referred to Executive 5/3/2006SenateHouse Amendment No. 1 Recommend Do Adopt Executive; 008-004-000 5/3/2006SenateHouse Amendment No. 2 Recommend Do Adopt Executive; 008-004-000 5/4/2006SenateAdded as Chief Co-Sponsor Sen. Donne E. Trotter 5/4/2006SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins 5/4/2006SenateHousing Affordability Impact Note Filed as amended with House Amendment No. 2 from the Illinois Housing Development Authority. 5/4/2006SenateHouse Amendment No. 1 Senate Concurs 030-027-000 5/4/2006SenateHouse Amendment No. 2 Senate Concurs 030-027-000 5/4/2006SenateJudicial Note Filed as amended by House Amendment No. 2, from the Administrative Office of the Illinois Courts. 5/4/2006SenatePassed Both Houses 6/2/2006SenateSent to the Governor 6/6/2006SenateGovernor Approved 6/6/2006SenateEffective Date June 6, 2006 6/6/2006SenatePublic Act . . . . . . . . . 94-0839