Illinois - SB4

GO RESTRUCTURING BONDS

Introduced

January 11, 2017

Description

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. Effective immediately, but this Act does not take effect at all unless Senate Bills 1, 2, 3, 5, 6, 7, 8, 9, 10, 11, 12, and 13 of the 100th General Assembly become law.

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