How much money does the State pay for its Debt during the fiscal year?
|Current Debt Service||$2,645,322,322.30|
About Debt Payment Spending
When the state borrows money, it is required to pay it back within a certain period of time with interest. The chart above shows the current debt service the state has paid so far in Fiscal Year 2015 for the state's general obligation bonds from the General Obligation Bond Retirement and Interest Fund. These bonds are generally used for capital projects such as roads and bridges, school construction, mass transportation, and state facilities. A portion of Illinois' general obligation debt service is going to repay bonds issued for pension payment purposes in 2003, 2010 and 2011.