---
type: "Bill"
title: "RURAL BOND BANK-ISSUANCE"
description: "Amends the Rural Bond Bank Act. Increases the Bank's bond authorization to $500,000,000 outstanding at any time. Increases the maximum amount used to purchase securities issued by certain units of local government to $87,500,000. Effective immediately."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "93rd"
identifier: "SB 1075"
citation: "Illinois SB 1075 (93rd)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 49
vote_count: 4
first_action: "2003-02-19"
last_action: "2003-07-17"
source: "openstates"
source_identifier: "ocd-bill/0f665e2c-35d0-4886-be04-fd3ac35d00a1"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=1075&GAID=3&DocTypeID=SB&LegId=3902&SessionID=3&GA=93"
source_hash: "90fd64a50a5341980184863a68edbe341979f235409a9c41b5c404eb56ff67b6"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-il"]
---

# Illinois SB 1075 (93rd) — RURAL BOND BANK-ISSUANCE

Amends the Rural Bond Bank Act. Increases the Bank's bond authorization to $500,000,000 outstanding at any time. Increases the maximum amount used to purchase securities issued by certain units of local government to $87,500,000. Effective immediately.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09300SB1075&GA=93&SessionId=3&DocTypeId=SB&LegID=3902&DocNum=1075&GAID=3&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09300SB1075eng&GA=93&SessionId=3&DocTypeId=SB&LegID=3902&DocNum=1075&GAID=3&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09300SB1075enr&GA=93&SessionId=3&DocTypeId=SB&LegID=3902&DocNum=1075&GAID=3&Session=&print=true)

## Votes

- Concurrence, Amendment 2 — **30–25** (pass) · upper
- Third Reading — **98–17** (pass) · lower
- Third Reading — **53–0** (pass) · upper
- Concurrence — **30–25** (pass) · upper

## Sponsors

- Vince Demuzio — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2003-02-19** Filed with Secretary by Sen. Vince Demuzio `filing`
- **2003-02-19** First Reading `reading-1`
- **2003-02-19** Referred to Rules `referral-committee`
- **2003-02-26** Assigned to State Government `referral-committee`
- **2003-03-06** Do Pass State Government; 008-000-000 `committee-passage`
- **2003-03-06** Placed on Calendar Order of 2nd Reading March 11, 2003
- **2003-03-21** Second Reading `reading-2`
- **2003-03-21** Placed on Calendar Order of 3rd Reading March 24, 2003
- **2003-03-24** Third Reading - Passed; 053-000-000 `reading-3, passage`
- **2003-03-25** Arrived in House `introduction`
- **2003-03-25** Placed on Calendar Order of First Reading `reading-1`
- **2003-03-28** Chief House Sponsor Rep. Richard P. Myers
- **2003-03-28** First Reading `reading-1`
- **2003-03-28** Referred to Rules Committee `referral-committee`
- **2003-03-31** Assigned to Executive Committee `referral-committee`
- **2003-05-02** Committee/3rd Reading Deadline Extended-Rule 9(b); May 31, 2003
- **2003-05-15** House Committee Amendment No. 1 Filed with Clerk by Executive Committee `amendment-introduction`
- **2003-05-15** House Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote `amendment-passage`
- **2003-05-15** Do Pass as Amended / Short Debate Executive Committee; 011-000-000 `committee-passage`
- **2003-05-15** Placed on Calendar 2nd Reading - Short Debate
- **2003-05-23** Third Reading/Final Action Deadline Extended-9(b) May 31, 2003 `reading-3`
- **2003-05-29** House Committee Amendment No. 1 Motion Filed Rep. Richard P. Myers; to Table House Amendment
- **2003-05-29** Second Reading - Short Debate `reading-2`
- **2003-05-29** Held on Calendar Order of Second Reading - Short Debate `reading-2`
- **2003-05-30** House Floor Amendment No. 2 Filed with Clerk by Rep. Gary Hannig `amendment-introduction`
- **2003-05-30** House Floor Amendment No. 2 Referred to Rules Committee `referral-committee`
- **2003-05-30** House Floor Amendment No. 2 Rules Refers to State Government Administration Committee
- **2003-05-30** Alternate Chief Sponsor Changed to Rep. Gary Hannig
- **2003-05-31** House Floor Amendment No. 2 Recommends Be Adopted State Government Administration Committee; 010-000-000 `committee-passage-favorable`
- **2003-05-31** House Floor Amendment No. 2 Adopted by Voice Vote `amendment-passage`
- **2003-05-31** Placed on Calendar Order of 3rd Reading - Short Debate
- **2003-05-31** Third Reading - Short Debate - Passed 098-017-000 `reading-3, passage`
- **2003-05-31** Secretary's Desk - Concurrence House Amendment(s) 01,02
- **2003-05-31** Placed on Calendar Order of Concurrence House Amendment(s) 01,02 - May 31, 2003
- **2003-05-31** House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Vince Demuzio `filing`
- **2003-05-31** House Committee Amendment No. 1 Motion to Concur Referred to Rules `referral-committee`
- **2003-05-31** House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Vince Demuzio `filing`
- **2003-05-31** House Floor Amendment No. 2 Motion to Concur Referred to Rules `referral-committee`
- **2003-05-31** House Committee Amendment No. 1 Motion to Concur Be Approved for Consideration Rules
- **2003-05-31** House Floor Amendment No. 2 Motion to Concur Be Approved for Consideration Rules
- **2003-05-31** Added as Chief Co-Sponsor Sen. Don Harmon
- **2003-05-31** Added as Chief Co-Sponsor Sen. Jeffrey M. Schoenberg
- **2003-05-31** House Committee Amendment No. 1 Senate Concurs 030-025-000
- **2003-05-31** House Floor Amendment No. 2 Senate Concurs 030-025-000
- **2003-05-31** Passed Both Houses
- **2003-06-27** Sent to the Governor `executive-receipt`
- **2003-07-17** Governor Approved `executive-signature`
- **2003-07-17** Effective Date January 1, 2004
- **2003-07-17** Public Act . . . . . . . . . 93-0205 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/0f665e2c-35d0-4886-be04-fd3ac35d00a1`. Confidence: reported (aggregated from official Illinois legislature records).