CDB-FEDERAL FUNDS

Enrolled · Il Senate · Session 2017

Introduced February 15, 2018

Primary sponsor: not yet matched to a profile

Amends the General Obligation Bond Act. Provides that the unused portion of federal funds received for or as reimbursement for a capital facilities project (currently, the unused portion of federal funds received for a capital facilities project) shall remain in the Capital Development Board Contributory Trust Fund. Removes a provision providing that any federal funds received as reimbursement for the completed construction of a capital improvement project shall be deposited in the Capital Development Bond Retirement and Interest Fund. Amends the Capital Development Bond Act of 1972. Makes conforming changes. Effective immediately.