Illinois 2025-2026 Regular Session

Illinois House Bill HB1323 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1323 Introduced , by Rep. Dan Ugaste SYNOPSIS AS INTRODUCED: 30 ILCS 305/8 new Amends the Bond Authorization Act. Provides that the authority of a public corporation to levy taxes in connection with the payment of bonds or other evidences of indebtedness ceases upon the maturity date of the bond or other evidence of indebtedness or upon the discharge of the debt, whichever comes first. Effective immediately. LRB104 03221 HLH 13243 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1323 Introduced , by Rep. Dan Ugaste SYNOPSIS AS INTRODUCED: 30 ILCS 305/8 new 30 ILCS 305/8 new Amends the Bond Authorization Act. Provides that the authority of a public corporation to levy taxes in connection with the payment of bonds or other evidences of indebtedness ceases upon the maturity date of the bond or other evidence of indebtedness or upon the discharge of the debt, whichever comes first. Effective immediately. LRB104 03221 HLH 13243 b LRB104 03221 HLH 13243 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1323 Introduced , by Rep. Dan Ugaste SYNOPSIS AS INTRODUCED:
3	3	30 ILCS 305/8 new 30 ILCS 305/8 new
4	4	30 ILCS 305/8 new
5	5	Amends the Bond Authorization Act. Provides that the authority of a public corporation to levy taxes in connection with the payment of bonds or other evidences of indebtedness ceases upon the maturity date of the bond or other evidence of indebtedness or upon the discharge of the debt, whichever comes first. Effective immediately.
6	6	LRB104 03221 HLH 13243 b LRB104 03221 HLH 13243 b
7	7	LRB104 03221 HLH 13243 b
8	8	A BILL FOR
9	9	HB1323LRB104 03221 HLH 13243 b HB1323 LRB104 03221 HLH 13243 b
10	10	HB1323 LRB104 03221 HLH 13243 b
11	11	1 AN ACT concerning finance.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Bond Authorization Act is amended by adding
15	15	5 Section 8 as follows:
16	16	6 (30 ILCS 305/8 new)
17	17	7 Sec. 8. Roll-over prohibited. Notwithstanding any other
18	18	8 provision of law, the authority of a public corporation to
19	19	9 levy taxes in connection with the payment of bonds or other
20	20	10 evidences of indebtedness ceases upon the maturity date of the
21	21	11 bond or other evidence of indebtedness or upon the discharge
22	22	12 of the debt, whichever comes first. Nothing in this Section
23	23	13 shall be construed to impair any contract in existence on the
24	24	14 effective date of this amendatory Act of the 104th General
25	25	15 Assembly.
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29	29	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1323 Introduced , by Rep. Dan Ugaste SYNOPSIS AS INTRODUCED:
30	30	30 ILCS 305/8 new 30 ILCS 305/8 new
31	31	30 ILCS 305/8 new
32	32	Amends the Bond Authorization Act. Provides that the authority of a public corporation to levy taxes in connection with the payment of bonds or other evidences of indebtedness ceases upon the maturity date of the bond or other evidence of indebtedness or upon the discharge of the debt, whichever comes first. Effective immediately.
33	33	LRB104 03221 HLH 13243 b LRB104 03221 HLH 13243 b
34	34	LRB104 03221 HLH 13243 b
35	35	A BILL FOR
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41	41	30 ILCS 305/8 new
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45	45	LRB104 03221 HLH 13243 b
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55	55	HB1323 LRB104 03221 HLH 13243 b