IL
Illinois House Bill HB2772

Illinois 2025-2026 Regular Session

Illinois House Bill HB2772 Compare Versions

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1-HB2772 EngrossedLRB104 11883 RTM 21974 b HB2772 Engrossed LRB104 11883 RTM 21974 b
2- HB2772 Engrossed LRB104 11883 RTM 21974 b
1+104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB2772 Introduced , by Rep. Eva-Dina Delgado SYNOPSIS AS INTRODUCED: 70 ILCS 3205/2 from Ch. 85, par. 600270 ILCS 3205/3 from Ch. 85, par. 600370 ILCS 3205/9.5 new70 ILCS 3205/13 from Ch. 85, par. 601370 ILCS 3205/7.8 rep. Amends the Illinois Sports Facilities Authority Act. Modifies legislative findings. Provides that "facility" includes stadiums, arenas, or other structures for the holding of athletic contests and other events and gatherings, including, without limitation, professional women's sports. Provides that a person may not, on the basis of sex, be prohibited from participating in or receiving any of the benefits of programs or activities at facilities funded under the Act, including facilities established or supported by bonds issued under the Act. Requires the Illinois Sports Facilities Authority to report to the Governor and the General Assembly on any male or female professional sports projects brought to the Authority by a professional sports team in the State. Provides that the Authority shall notify the Governor, Speaker of the House of Representatives, Minority Leader of the House of Representatives, President of the Senate, and Minority Leader of the Senate of the proposal within 2 weeks of receiving a formal request or inquiry. Provides that, before the General Assembly authorizes the issuance of additional bonds under the Act to fund facilities for professional men's sports teams, each chamber of the General Assembly may hold a hearing to publicly review any proposal submitted to the Authority. Repeals provisions relating to a dissolved advisory board. Effective immediately. LRB104 11883 RTM 21974 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB2772 Introduced , by Rep. Eva-Dina Delgado SYNOPSIS AS INTRODUCED: 70 ILCS 3205/2 from Ch. 85, par. 600270 ILCS 3205/3 from Ch. 85, par. 600370 ILCS 3205/9.5 new70 ILCS 3205/13 from Ch. 85, par. 601370 ILCS 3205/7.8 rep. 70 ILCS 3205/2 from Ch. 85, par. 6002 70 ILCS 3205/3 from Ch. 85, par. 6003 70 ILCS 3205/9.5 new 70 ILCS 3205/13 from Ch. 85, par. 6013 70 ILCS 3205/7.8 rep. Amends the Illinois Sports Facilities Authority Act. Modifies legislative findings. Provides that "facility" includes stadiums, arenas, or other structures for the holding of athletic contests and other events and gatherings, including, without limitation, professional women's sports. Provides that a person may not, on the basis of sex, be prohibited from participating in or receiving any of the benefits of programs or activities at facilities funded under the Act, including facilities established or supported by bonds issued under the Act. Requires the Illinois Sports Facilities Authority to report to the Governor and the General Assembly on any male or female professional sports projects brought to the Authority by a professional sports team in the State. Provides that the Authority shall notify the Governor, Speaker of the House of Representatives, Minority Leader of the House of Representatives, President of the Senate, and Minority Leader of the Senate of the proposal within 2 weeks of receiving a formal request or inquiry. Provides that, before the General Assembly authorizes the issuance of additional bonds under the Act to fund facilities for professional men's sports teams, each chamber of the General Assembly may hold a hearing to publicly review any proposal submitted to the Authority. Repeals provisions relating to a dissolved advisory board. Effective immediately. LRB104 11883 RTM 21974 b LRB104 11883 RTM 21974 b A BILL FOR
2+104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB2772 Introduced , by Rep. Eva-Dina Delgado SYNOPSIS AS INTRODUCED:
3+70 ILCS 3205/2 from Ch. 85, par. 600270 ILCS 3205/3 from Ch. 85, par. 600370 ILCS 3205/9.5 new70 ILCS 3205/13 from Ch. 85, par. 601370 ILCS 3205/7.8 rep. 70 ILCS 3205/2 from Ch. 85, par. 6002 70 ILCS 3205/3 from Ch. 85, par. 6003 70 ILCS 3205/9.5 new 70 ILCS 3205/13 from Ch. 85, par. 6013 70 ILCS 3205/7.8 rep.
4+70 ILCS 3205/2 from Ch. 85, par. 6002
5+70 ILCS 3205/3 from Ch. 85, par. 6003
6+70 ILCS 3205/9.5 new
7+70 ILCS 3205/13 from Ch. 85, par. 6013
8+70 ILCS 3205/7.8 rep.
9+Amends the Illinois Sports Facilities Authority Act. Modifies legislative findings. Provides that "facility" includes stadiums, arenas, or other structures for the holding of athletic contests and other events and gatherings, including, without limitation, professional women's sports. Provides that a person may not, on the basis of sex, be prohibited from participating in or receiving any of the benefits of programs or activities at facilities funded under the Act, including facilities established or supported by bonds issued under the Act. Requires the Illinois Sports Facilities Authority to report to the Governor and the General Assembly on any male or female professional sports projects brought to the Authority by a professional sports team in the State. Provides that the Authority shall notify the Governor, Speaker of the House of Representatives, Minority Leader of the House of Representatives, President of the Senate, and Minority Leader of the Senate of the proposal within 2 weeks of receiving a formal request or inquiry. Provides that, before the General Assembly authorizes the issuance of additional bonds under the Act to fund facilities for professional men's sports teams, each chamber of the General Assembly may hold a hearing to publicly review any proposal submitted to the Authority. Repeals provisions relating to a dissolved advisory board. Effective immediately.
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315 1 AN ACT concerning local government.
416 2 Be it enacted by the People of the State of Illinois,
517 3 represented in the General Assembly:
618 4 Section 5. The Illinois Sports Facilities Authority Act is
719 5 amended by changing Sections 2, 3, and 13 and by adding Section
820 6 9.5 as follows:
921 7 (70 ILCS 3205/2) (from Ch. 85, par. 6002)
1022 8 Sec. 2. Definitions; general provisions. In this Act the
1123 9 following words have the meanings indicated:
1224 10 (A) "Authority" means the Illinois Sports Facilities
1325 11 Authority.
1426 12 (B) "Facility" means:
1527 13 (1) Stadiums, arenas or other structures for the
1628 14 holding of athletic contests and other events and
1729 15 gatherings, including, without limitation, baseball,
1830 16 football, professional women's sports, and automobile
1931 17 racing; musical, dramatic and other artistic, cultural or
2032 18 social events; public meetings; and other public events;
2133 19 and
2234 20 (2) Practice fields, or other areas where professional
2335 21 sports teams and other sports teams may practice or
2436 22 perform.
2537 23 (3) "Facility" also means the following types of
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41+104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB2772 Introduced , by Rep. Eva-Dina Delgado SYNOPSIS AS INTRODUCED:
42+70 ILCS 3205/2 from Ch. 85, par. 600270 ILCS 3205/3 from Ch. 85, par. 600370 ILCS 3205/9.5 new70 ILCS 3205/13 from Ch. 85, par. 601370 ILCS 3205/7.8 rep. 70 ILCS 3205/2 from Ch. 85, par. 6002 70 ILCS 3205/3 from Ch. 85, par. 6003 70 ILCS 3205/9.5 new 70 ILCS 3205/13 from Ch. 85, par. 6013 70 ILCS 3205/7.8 rep.
43+70 ILCS 3205/2 from Ch. 85, par. 6002
44+70 ILCS 3205/3 from Ch. 85, par. 6003
45+70 ILCS 3205/9.5 new
46+70 ILCS 3205/13 from Ch. 85, par. 6013
47+70 ILCS 3205/7.8 rep.
48+Amends the Illinois Sports Facilities Authority Act. Modifies legislative findings. Provides that "facility" includes stadiums, arenas, or other structures for the holding of athletic contests and other events and gatherings, including, without limitation, professional women's sports. Provides that a person may not, on the basis of sex, be prohibited from participating in or receiving any of the benefits of programs or activities at facilities funded under the Act, including facilities established or supported by bonds issued under the Act. Requires the Illinois Sports Facilities Authority to report to the Governor and the General Assembly on any male or female professional sports projects brought to the Authority by a professional sports team in the State. Provides that the Authority shall notify the Governor, Speaker of the House of Representatives, Minority Leader of the House of Representatives, President of the Senate, and Minority Leader of the Senate of the proposal within 2 weeks of receiving a formal request or inquiry. Provides that, before the General Assembly authorizes the issuance of additional bonds under the Act to fund facilities for professional men's sports teams, each chamber of the General Assembly may hold a hearing to publicly review any proposal submitted to the Authority. Repeals provisions relating to a dissolved advisory board. Effective immediately.
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3480 1 property if that property is related to or located near an
3581 2 item listed in paragraphs (1) and (2) of subsection (B) of
3682 3 this Section:
3783 4 (i) Offices, parking lots and garages, access
3884 5 roads, streets, intersections, highway interchanges,
3985 6 pedestrian walkways, tunnels, and bridges,
4086 7 transportation facilities, monuments, restaurants,
4187 8 stores, and other facilities providing goods and
4288 9 services to persons attending meetings, contests,
4389 10 gatherings or events at the facility;
4490 11 (ii) Other recreation areas and recreational
4591 12 facilities;
4692 13 (iii) Other property or structures including all
4793 14 fixtures, furnishings, and appurtenances normally
4894 15 associated with such facilities; and
4995 16 (iv) Landscaping, parks, and open spaces.
5096 17 (C) "Governmental Owner" means a body politic, public
5197 18 corporation, political subdivision, unit of local government,
5298 19 or municipality formed under the laws of the State of
5399 20 Illinois, including, without limitation, the Chicago Park
54100 21 District, that owns or is to own a facility located within the
55101 22 corporate limits of the Authority described in Section 11 of
56102 23 this Act and to which the Authority provides financial
57103 24 assistance. Where the title to all or any part of a facility is
58104 25 held by a public building commission because the public
59105 26 building commission has financed, under the authority of the
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70116 1 Public Building Commission Act, the acquisition of real estate
71117 2 or the construction, acquisition, or enlargement of
72118 3 improvements to real estate, or both, for any body politic,
73119 4 public corporation, political subdivision, unit of local
74120 5 government, or municipality formed under the laws of the State
75121 6 of Illinois, the term "governmental owner" when used with
76122 7 respect to that facility means the body politic, public
77123 8 corporation, political subdivision, unit of local government,
78124 9 or municipality rather than the public building commission.
79125 10 (D) "Management Agreement" means a legally binding
80126 11 contract between the Authority and a tenant of a facility
81127 12 owned by the Authority, which contains at least the following
82128 13 provisions:
83129 14 (1) a provision requiring the tenant to conduct its
84130 15 complete regular home season schedule and any home playoff
85131 16 events in the facility;
86132 17 (2) a provision requiring the tenant to provide
87133 18 routine maintenance of and to operate the facility with
88134 19 its personnel or contractors;
89135 20 (3) a provision requiring the tenant to advertise and
90136 21 promote events it conducts at the facility;
91137 22 (4) a provision requiring the tenant to operate or
92138 23 contract for concessions for the patrons of the facility,
93139 24 including a stadium club and restaurant where food and
94140 25 beverages will be served; and
95141 26 (5) a provision permitting the Authority or its
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106152 1 designee to hold other events in any such facility owned
107153 2 by the Authority at such times as shall not unreasonably
108154 3 interfere with the use of that facility by the tenant.
109155 4 (E) "Assistance Agreement" means one or more legally
110156 5 binding contracts, with respect to a facility for which the
111157 6 Authority is to provide financial assistance as provided in
112158 7 this Act, to which the Authority and a governmental owner of a
113159 8 facility or its tenant, or both, and any other appropriate
114160 9 persons are parties, which may be in the form of an
115161 10 intergovernmental agreement.
116162 11 (F) "Financial Assistance" means the use by the Authority,
117163 12 pursuant to an assistance agreement, of its powers under this
118164 13 Act, including, without limitation, the power to borrow money,
119165 14 to issue bonds and notes, to impose an occupation tax as
120166 15 provided in Section 19 of this Act and to receive and expend
121167 16 the proceeds of that tax, to assist a governmental owner or its
122168 17 tenant, or both, with one or more of the following: designing,
123169 18 developing, establishing, constructing, erecting, acquiring,
124170 19 repairing, reconstructing, renovating, remodeling, adding to,
125171 20 extending, improving, equipping, operating, and maintaining a
126172 21 facility owned or to be owned by the governmental owner.
127173 22 (G) "Tenant" means any person with which a governmental
128174 23 owner or the Authority has entered into an agreement for the
129175 24 use by a professional sports team or other sports team of any
130176 25 facility. Such an agreement may be a management agreement or
131177 26 an assistance agreement or may be a lease of or a license,
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142188 1 permit, or similar agreement with respect to the use of a
143189 2 facility by such team for such period as shall be agreed upon
144190 3 by the person and the governmental owner or the Authority, as
145191 4 the case may be.
146192 5 (Source: P.A. 91-935, eff. 6-1-01.)
147193 6 (70 ILCS 3205/3) (from Ch. 85, par. 6003)
148194 7 Sec. 3. Legislative Finding and Declaration. It is hereby
149195 8 found that as a result of deteriorating infrastructure and
150196 9 sports facilities in the metropolitan area of Chicago, there
151197 10 is a shortage of facilities suitable for use by professional
152198 11 and other sports teams and musical, theatrical, cultural, and
153199 12 other social organizations.
154200 13 It is further found that as a result of the costs to
155201 14 maintain, repair or replace such infrastructure and
156202 15 facilities, and as a result of current high financing costs,
157203 16 the private sector, without the assistance contemplated in
158204 17 this Act, is unable to construct feasibly adequate sports
159205 18 facilities.
160206 19 It is further found that the creation of modern sports
161207 20 facilities and the other results contemplated by this Act
162208 21 would stimulate economic activity in the State of Illinois,
163209 22 including the creation and maintenance of jobs, the creation
164210 23 of new and lasting infrastructure and other improvements, and
165211 24 the attraction and retention of sports and entertainment
166212 25 events which generate economic activity.
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177223 1 It is further found that participation in sports promotes
178224 2 physical and mental health and provides opportunities for
179225 3 personal growth and character development and that these
180226 4 benefits are best advanced and enjoyed when available to all
181227 5 people on an equitable basis, including when provision is made
182228 6 for equitable development of sports facilities for men and
183229 7 women alike.
184230 8 It is further found that professional sports facilities
185231 9 can be magnets for substantial interstate tourism resulting in
186232 10 increased retail sales, hotel and restaurant sales, and
187233 11 entertainment industry sales, all of which increase jobs and
188234 12 economic growth.
189235 13 It is further found that only three major league
190236 14 professional baseball franchises play in stadium facilities
191237 15 the construction of which has not been government-assisted and
192238 16 of those three the most recently constructed facility was
193239 17 completed in 1914.
194240 18 It is further found that government assistance was or is
195241 19 an essential component in the financing of the construction of
196242 20 most recently built or planned National Football League
197243 21 stadiums.
198244 22 It is further found that the exercise by the Authority and
199245 23 governmental owners of the additional powers conferred by this
200246 24 amendatory Act of the 91st General Assembly (i) will
201247 25 materially assist the development and redevelopment of
202248 26 government owned sports facilities and thereby alleviate in
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213259 1 part the deleterious conditions and confer the public benefits
214260 2 described in this Section and (ii) is in the public interest
215261 3 and is declared to be for public purposes.
216262 4 (Source: P.A. 91-935, eff. 6-1-01.)
217263 5 (70 ILCS 3205/9.5 new)
218264 6 Sec. 9.5. Unlawful discrimination. A person may not be
219265 7 prohibited, on the basis of sex, from participation in, or any
220266 8 of the benefits of, programs or activities at facilities
221267 9 funded under this Act, including facilities established or
222268 10 supported by bonds issued under this Act.
223269 11 (70 ILCS 3205/13) (from Ch. 85, par. 6013)
224270 12 Sec. 13. Bonds and notes.
225271 13 (A) (1) The Authority may at any time and from time to time
226272 14 issue bonds and notes for any corporate purpose, including the
227273 15 establishment of reserves and the payment of interest and
228274 16 costs of issuance. The Authority shall report to the Governor
229275 17 and the General Assembly on any male or female professional
230276 18 sports projects brought to the Authority by a professional
231277 19 sports team in the State. The Authority shall notify the
232278 20 Governor, Speaker of the House of Representatives, Minority
233279 21 Leader of the House of Representatives, President of the
234280 22 Senate, and Minority Leader of the Senate of the proposal
235281 23 within 2 weeks of receiving a formal request or inquiry.
236282 24 Before the General Assembly authorizes the issuance of
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247293 1 additional bonds under this Act to fund facilities for
248294 2 professional men's sports teams, each chamber of the General
249295 3 Assembly may hold a hearing to publicly review any proposal
250296 4 submitted to the Authority. If there are proposals submitted
251297 5 by both professional men's and women's sports teams and
252298 6 recognizing the historical lack of public funding for women's
253299 7 sports, then the General Assembly shall encourage any future
254300 8 bonding authority is granted in an equitable manner to assist
255301 9 in the remediation of past inequity in funding between men's
256302 10 and women's sports teams. In this Act the term "bonds"
257303 11 includes notes of any kind, interim certificates, refunding
258304 12 bonds, or any other evidence of obligation for borrowed money
259305 13 issued under this Section 13. Bonds may be issued in one or
260306 14 more series and may be payable and secured either on a parity
261307 15 with or separately from other bonds.
262308 16 (2) The bonds of any issue shall be payable solely from all
263309 17 or any part of the property or revenues of the Authority,
264310 18 including, without limitation:
265311 19 (i) Rents, rates, fees, charges, or other revenues
266312 20 payable to or any receipts of the Authority, including
267313 21 amounts which are deposited pursuant to the Act with a
268314 22 trustee for bondholders;
269315 23 (ii) Payments by financial institutions, insurance
270316 24 companies, or others pursuant to letters or lines of
271317 25 credit, policies of insurance, or purchase agreements;
272318 26 (iii) Investment earnings from funds or accounts
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283329 1 maintained pursuant to a bond resolution or trust
284330 2 agreement; and
285331 3 (iv) Proceeds of refunding bonds.
286332 4 (3) Bonds may be authorized by a resolution of the
287333 5 Authority and may be secured by a trust agreement by and
288334 6 between the Authority and a corporate trustee or trustees,
289335 7 which may be any trust company or bank having the powers of a
290336 8 trust company within or without the State. Bonds may:
291337 9 (i) Mature at a time or times, whether as serial bonds
292338 10 or as term bonds or both, not exceeding 40 years from their
293339 11 respective dates of issue;
294340 12 (ii) Notwithstanding the provisions provision of the
295341 13 Bond Authorization Act "An Act to authorize public
296342 14 corporations to issue bonds, other evidences of
297343 15 indebtedness and tax anticipation warrants subject to
298344 16 interest rate limitations set forth therein", approved May
299345 17 26, 1970, as now or hereafter amended, or any other
300346 18 provision of law, bear interest at any fixed or variable
301347 19 rate or rates determined by the method provided in the
302348 20 resolution or trust agreement;
303349 21 (iii) Be payable at a time or times, in the
304350 22 denominations and form, either coupon or registered or
305351 23 both, and carry the registration and privileges as to
306352 24 exchange, transfer, or conversion and for the replacement
307353 25 of mutilated, lost, or destroyed bonds as the resolution
308354 26 or trust agreement may provide;
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319365 1 (iv) Be payable in lawful money of the United States
320366 2 at a designated place;
321367 3 (v) Be subject to the terms of purchase, payment,
322368 4 redemption, refunding, or refinancing that the resolution
323369 5 or trust agreement provides;
324370 6 (vi) Be executed by the manual or facsimile signatures
325371 7 of the officers of the Authority designated by the
326372 8 Authority which signatures shall be valid at delivery even
327373 9 for one who has ceased to hold office; and
328374 10 (vii) Be sold in the manner and upon the terms
329375 11 determined by the Authority.
330376 12 (B) Any resolution or trust agreement may contain
331377 13 provisions which shall be a part of the contract with the
332378 14 holders of the bonds as to:
333379 15 (1) Pledging, assigning, or directing the use,
334380 16 investment, or disposition of all or any part of the
335381 17 revenues of the Authority or proceeds or benefits of any
336382 18 contract, including, without limit, any management
337383 19 agreement or assistance agreement and conveying or
338384 20 otherwise securing any property or property rights;
339385 21 (2) The setting aside of loan funding deposits, debt
340386 22 service reserves, capitalized interest accounts,
341387 23 replacement or operating reserves, cost of issuance
342388 24 accounts and sinking funds, and the regulation,
343389 25 investment, and disposition thereof;
344390 26 (3) Limitations on the purposes to which or the
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355401 1 investments in which the proceeds of sale of any issue of
356402 2 bonds or the Authority's revenues and receipts may be
357403 3 applied or made;
358404 4 (4) Limitations on the issue of additional bonds, the
359405 5 terms upon which additional bonds may be issued and
360406 6 secured, the terms upon which additional bonds may rank on
361407 7 a parity with, or be subordinate or superior to, other
362408 8 bonds;
363409 9 (5) The refunding, advance refunding, or refinancing
364410 10 of outstanding bonds;
365411 11 (6) The procedure, if any, by which the terms of any
366412 12 contract with bondholders may be altered or amended and
367413 13 the amount of bonds and holders of which must consent
368414 14 thereto, and the manner in which consent shall be given;
369415 15 (7) Defining the acts or omissions which shall
370416 16 constitute a default in the duties of the Authority to
371417 17 holders of bonds and providing the rights or remedies of
372418 18 such holders in the event of a default which may include
373419 19 provisions restricting individual right of action by
374420 20 bondholders;
375421 21 (8) Providing for guarantees, pledges of property,
376422 22 letters of credit, or other security, or insurance for the
377423 23 benefit of bondholders; and
378424 24 (9) Any other matter relating to the bonds which the
379425 25 Authority determines appropriate.
380426 26 (C) No member of the Authority nor any person executing
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390- HB2772 Engrossed - 12 - LRB104 11883 RTM 21974 b
435+HB2772- 12 -LRB104 11883 RTM 21974 b HB2772 - 12 - LRB104 11883 RTM 21974 b
436+ HB2772 - 12 - LRB104 11883 RTM 21974 b
391437 1 the bonds shall be liable personally on the bonds or subject to
392438 2 any personal liability by reason of the issuance of the bonds.
393439 3 (D) The Authority may enter into agreements with agents,
394440 4 banks, insurers, or others for the purpose of enhancing the
395441 5 marketability of or security for its bonds.
396442 6 (E)(1) A pledge by the Authority of revenues and receipts
397443 7 as security for an issue of bonds or for the performance of its
398444 8 obligations under any management agreement or assistance
399445 9 agreement shall be valid and binding from the time when the
400446 10 pledge is made.
401447 11 (2) The revenues and receipts pledged shall immediately be
402448 12 subject to the lien of the pledge without any physical
403449 13 delivery or further act, and the lien of any pledge shall be
404450 14 valid and binding against any person having any claim of any
405451 15 kind in tort, contract, or otherwise against the Authority,
406452 16 irrespective of whether the person has notice.
407453 17 (3) No resolution, trust agreement, management agreement,
408454 18 or assistance agreement or any financing statement,
409455 19 continuation statement, or other instrument adopted or entered
410456 20 into by the Authority need be filed or recorded in any public
411457 21 record other than the records of the Authority in order to
412458 22 perfect the lien against third persons, regardless of any
413459 23 contrary provision of law.
414460 24 (F) The Authority may issue bonds to refund, advance
415461 25 refund, or refinance any of its bonds then outstanding,
416462 26 including the payment of any redemption premium and any
417463
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426- HB2772 Engrossed - 13 - LRB104 11883 RTM 21974 b
471+HB2772- 13 -LRB104 11883 RTM 21974 b HB2772 - 13 - LRB104 11883 RTM 21974 b
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427473 1 interest accrued or to accrue to the earliest or any
428474 2 subsequent date of redemption, purchase, or maturity of the
429475 3 bonds. Refunding or advance refunding bonds may be issued for
430476 4 the public purposes of realizing savings in the effective
431477 5 costs of debt service, directly or through a debt
432478 6 restructuring, for alleviating impending or actual default, or
433479 7 for paying principal of, redemption premium, if any, and
434480 8 interest on bonds as they mature or are subject to redemption,
435481 9 and may be issued in one or more series in an amount in excess
436482 10 of that of the bonds to be refunded.
437483 11 (G) At no time shall the total outstanding bonds and notes
438484 12 of the Authority issued under this Section 13 exceed (i)
439485 13 $150,000,000 in connection with facilities owned by the
440486 14 Authority or in connection with other authorized corporate
441487 15 purposes of the Authority and (ii) $399,000,000 in connection
442488 16 with facilities owned by a governmental owner other than the
443489 17 Authority; however, the limit on the total outstanding bond
444490 18 and notes set forth in this sentence shall not apply to any
445491 19 refunding or restructuring bonds issued by the Authority on
446492 20 and after June 17, 2021 (the effective date of Public Act
447493 21 102-16) this amendatory Act of the 102nd General Assembly but
448494 22 prior to December 31, 2024. Bonds which are being paid or
449495 23 retired by issuance, sale, or delivery of bonds or notes, and
450496 24 bonds or notes for which sufficient funds have been deposited
451497 25 with the paying agent or trustee to provide for payment of
452498 26 principal and interest thereon, and any redemption premium, as
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507+HB2772- 14 -LRB104 11883 RTM 21974 b HB2772 - 14 - LRB104 11883 RTM 21974 b
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463509 1 provided in the authorizing resolution, shall not be
464510 2 considered outstanding for the purposes of this paragraph.
465511 3 (H) The bonds and notes of the Authority shall not be
466512 4 indebtedness of the City of Chicago, of the State, or of any
467513 5 political subdivision of the State other than the Authority.
468514 6 The bonds and notes of the Authority are not general
469515 7 obligations of the State of Illinois or the City of Chicago, or
470516 8 of any other political subdivision of the State other than the
471517 9 Authority, and are not secured by a pledge of the full faith
472518 10 and credit of the State of Illinois or the City of Chicago, or
473519 11 of any other political subdivision of the State other than the
474520 12 Authority, and the holders of bonds and notes of the Authority
475521 13 may not require the levy or imposition by the State or the City
476522 14 of Chicago, or any other political subdivision of the State
477523 15 other than the Authority, of any taxes or, except as provided
478524 16 in this Act, the application of revenues or funds of the State
479525 17 of Illinois or the City of Chicago or any other political
480526 18 subdivision of the State other than the Authority to the
481527 19 payment of bonds and notes of the Authority.
482528 20 (I) In order to provide for the payment of debt service
483529 21 requirements (including amounts for reserve funds and to pay
484530 22 the costs of credit enhancements) on bonds issued pursuant to
485531 23 this Act, the Authority may provide in any trust agreement
486532 24 securing such bonds for a pledge and assignment of its right to
487533 25 all amounts to be received from the Illinois Sports Facilities
488534 26 Fund and for a pledge and assignment (subject to the terms of
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498- HB2772 Engrossed - 15 - LRB104 11883 RTM 21974 b
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544+ HB2772 - 15 - LRB104 11883 RTM 21974 b
499545 1 any management agreement or assistance agreement) of all taxes
500546 2 and other amounts to be received under Section 19 of this Act
501547 3 and may further provide by written notice to the State
502548 4 Treasurer and State Comptroller (which notice shall constitute
503549 5 a direction to those officers) for a direct payment of these
504550 6 amounts to the trustee for its bondholders.
505551 7 (J) The State of Illinois pledges to and agrees with the
506552 8 holders of the bonds and notes of the Authority issued
507553 9 pursuant to this Act that the State will not limit or alter the
508554 10 rights and powers vested in the Authority by this Act so as to
509555 11 impair the terms of any contract made by the Authority with
510556 12 such holders or in any way impair the rights and remedies of
511557 13 such holders until such bonds and notes, together with
512558 14 interest thereon, with interest on any unpaid installments of
513559 15 interest, and all costs and expenses in connection with any
514560 16 action or proceedings by or on behalf of such holders, are
515561 17 fully met and discharged. In addition, the State pledges to
516562 18 and agrees with the holders of the bonds and notes of the
517563 19 Authority issued pursuant to this Act that the State will not
518564 20 limit or alter the basis on which State funds are to be
519565 21 allocated, deposited and paid to the Authority as provided in
520566 22 this Act, or the use of such funds, so as to impair the terms
521567 23 of any such contract. The Authority is authorized to include
522568 24 these pledges and agreements of the State in any contract with
523569 25 the holders of bonds or notes issued pursuant to this Section.
524570 26 Nothing in Public Act 102-16 this amendatory Act of the 102nd
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534- HB2772 Engrossed - 16 - LRB104 11883 RTM 21974 b
579+HB2772- 16 -LRB104 11883 RTM 21974 b HB2772 - 16 - LRB104 11883 RTM 21974 b
580+ HB2772 - 16 - LRB104 11883 RTM 21974 b
535581 1 General Assembly is intended to limit or alter the rights and
536582 2 powers of the Authority so as to impair the terms of any
537583 3 contract made by the Authority with the holders of the bonds
538584 4 and notes of the Authority issued pursuant to this Act.
539585 5 (Source: P.A. 102-16, eff. 6-17-21; revised 7-25-24.)
540586 6 (70 ILCS 3205/7.8 rep.)
541587 7 Section 10. The Illinois Sports Facilities Authority Act
542588 8 is amended by repealing Section 7.8.
543-9 Section 99. Effective date. This Act takes effect upon
544-10 becoming law.
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