republic-os/legislation/us/states/il/96th/hb-5854.md

---
type: "Bill"
title: "FINANCE AUTHORITY-PROJECTS"
description: "Amends the Illinois Finance Authority Act. Provides that the Act applies to certain projects located outside of the State, if the project involves property or facilities that are owned, operated, leased, or managed by an entity located within the State. Sets forth criteria for approving out-of-State projects. Provides that the Authority shall not provide financing for any project, or portion of a project, located outside of the United States. Provides that the Authority shall not provide financing that constitutes an indebtedness of the State for any project, or portion of a project, located outside of the State. Provides that the Illinois Finance Authority may approve an application to finance or refinance a project located outside of the State only if the Authority has the ability to issue at least another $1,000,000,000 of bonds after giving effect to the financing or refinancing or the out-of-state project. Proposes that the Authority shall not provide financing that uses State volume cap under Section 146 of the Internal Revenue Code of 1986 for a project located outside of the State. Effective immediately."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "96th"
identifier: "HB 5854"
citation: "Illinois HB 5854 (96th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 32
vote_count: 2
first_action: "2010-02-10"
last_action: "2010-07-12"
source: "openstates"
source_identifier: "ocd-bill/c5bf0162-35d1-4941-a96d-2cc87fb27ccc"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=5854&GAID=10&DocTypeID=HB&LegId=51473&SessionID=76&GA=96"
source_hash: "916d226e58c7928305c3679bbd5ccbcd7ec088edc07553aeb0050e7405aba61d"
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 HB 5854 (96th) — FINANCE AUTHORITY-PROJECTS

Amends the Illinois Finance Authority Act. Provides that the Act applies to certain projects located outside of the State, if the project involves property or facilities that are owned, operated, leased, or managed by an entity located within the State. Sets forth criteria for approving out-of-State projects. Provides that the Authority shall not provide financing for any project, or portion of a project, located outside of the United States. Provides that the Authority shall not provide financing that constitutes an indebtedness of the State for any project, or portion of a project, located outside of the State. Provides that the Illinois Finance Authority may approve an application to finance or refinance a project located outside of the State only if the Authority has the ability to issue at least another $1,000,000,000 of bonds after giving effect to the financing or refinancing or the out-of-state project. Proposes that the Authority shall not provide financing that uses State volume cap under Section 146 of the Internal Revenue Code of 1986 for a project located outside of the State. 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=09600HB5854&GA=96&SessionId=76&DocTypeId=HB&LegID=51473&DocNum=5854&GAID=10&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600HB5854eng&GA=96&SessionId=76&DocTypeId=HB&LegID=51473&DocNum=5854&GAID=10&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600HB5854enr&GA=96&SessionId=76&DocTypeId=HB&LegID=51473&DocNum=5854&GAID=10&Session=&print=true)

## Votes

- Third Reading — **69–26** (pass) · lower
- Third Reading — **32–15** (pass) · upper

## Sponsors

- Marlow H. Colvin — primary (person)

## Timeline

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

- **2010-02-10** Filed with the Clerk by Rep. Marlow H. Colvin `filing`
- **2010-02-10** First Reading `reading-1`
- **2010-02-10** Referred to Rules Committee `referral-committee`
- **2010-02-11** Added Chief Co-Sponsor Rep. William B. Black
- **2010-02-17** Added Chief Co-Sponsor Rep. Patrick J. Verschoore
- **2010-02-22** Assigned to State Government Administration Committee `referral-committee`
- **2010-03-03** Do Pass / Short Debate State Government Administration Committee; 013-004-000 `committee-passage`
- **2010-03-03** Placed on Calendar 2nd Reading - Short Debate
- **2010-03-04** Added Co-Sponsor Rep. Monique D. Davis
- **2010-03-11** Second Reading - Short Debate `reading-2`
- **2010-03-11** Placed on Calendar Order of 3rd Reading - Short Debate
- **2010-03-12** Third Reading - Short Debate - Passed 069-026-000 `reading-3, passage`
- **2010-03-12** Added Chief Co-Sponsor Rep. Luis Arroyo
- **2010-03-12** Added Chief Co-Sponsor Rep. Al Riley
- **2010-03-12** Added Co-Sponsor Rep. William Davis
- **2010-03-12** Added Co-Sponsor Rep. Deborah L. Graham
- **2010-03-15** Arrive in Senate `introduction`
- **2010-03-15** Placed on Calendar Order of First Reading `reading-1`
- **2010-03-15** Chief Senate Sponsor Sen. James F. Clayborne, Jr.
- **2010-03-15** First Reading `reading-1`
- **2010-03-15** Referred to Assignments `referral-committee`
- **2010-04-06** Assigned to State Government and Veterans Affairs `referral-committee`
- **2010-04-15** Do Pass State Government and Veterans Affairs; 006-002-001 `committee-passage`
- **2010-04-15** Placed on Calendar Order of 2nd Reading April 20, 2010
- **2010-04-23** Second Reading `reading-2`
- **2010-04-23** Placed on Calendar Order of 3rd Reading April 27, 2010
- **2010-04-28** Third Reading - Passed; 032-015-002 `reading-3, passage`
- **2010-04-28** Passed Both Houses
- **2010-05-27** Sent to the Governor `executive-receipt`
- **2010-07-12** Governor Approved `executive-signature`
- **2010-07-12** Effective Date July 12, 2010
- **2010-07-12** Public Act . . . . . . . . . 96-1021 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/c5bf0162-35d1-4941-a96d-2cc87fb27ccc`. Confidence: reported (aggregated from official Illinois legislature records).