[Comments on this legislation] [Post new comment] [Text and Analysis] [Add to Watch List]
[Previous] [Next]

• Introduced by Rep. Mary Valentine (D) on January 22, 2009, to establish that the local government retiree health benefit bonds sold by municipalities to incur the new debt proposed by House Bill 4075 would be secured by the unit’s general fund and would be “general obligation limited tax" bonds. The local government could only levy a new tax to cover this debt if the borrowing is approved by voters (which is not automatically required by HB 4075).
  • Referred to the House Judiciary Committee on January 22, 2009.
  • Reported in the House on February 18, 2009, without amendment and with the recommendation that the bill pass.
• Passed in the House (107 to 1) on March 4, 2009, to establish that the local government retiree health benefit bonds sold by municipalities to incur the new debt proposed by House Bill 4075 would be secured by the unit’s general fund and would be “general obligation limited tax" bonds. The local government could only levy a new tax to cover this debt if the borrowing is approved by voters (which is not automatically required by HB 4075). [Vote Details and Comments]
• Received in the Senate on March 5, 2009.
  • Referred to the Senate Appropriations Committee on March 5, 2009.