Illinois Senate Panel OKs $1 Billion Stem-Cell Bond Plan

Shields, Yvette
March 2005
Bond Buyer;3/18/2005, Vol. 351 Issue 32093, p3
Trade Publication
This article reports that a proposal to issue $1 billion of general obligation bonds to fund stem-cell research in Illinois cleared its first hurdle when the state's Senate Health and Human Services Committee approved the plan. The bill is being sponsored by House Republican Leader Tom Cross and Senator Jeffrey M. Schoenberg. Under the plan, the state would create the Illinois Regenerative Medicine Institute to foster stem-cell research with grants that would come from $1 billion of bonds backed by the state's GO pledge but repaid with receipts of a 6% tax on elective cosmetic surgery.


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