Legislation that permits Illinois to issue federal bonds for capital construction projects, targets telephone scams and cracks down on illegal gun possession by gang members were signed into law this week, according to Senator Tim Bivins.
Signed December 2, Senate Bill 1514 provides the tools necessary to finance the state’s capital construction program by permitting procurement and payment of federal Build America Bonds and Qualified School Construction Bonds, which are programs initiated through the American Recovery and Reinvestment Act of 2009.
The Qualified School Construction Bonds are to be used for construction and repairs or rehabilitation of public school buildings, or to purchase land where a school facility will be built. The Build America Bonds allow both the state and local governments to issue Build America Bonds as taxable bonds to finance capital expenditures." />Skip to Main Content
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