Illinois House Bill 2826 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Finance Authority Act. In Sections concerning State guarantees for loans to farmers, provides that the total amount of the guarantees shall not exceed $2,000,000 per farmer (instead of $500,000). Provides that guarantees may be made if the farmer's net worth does not exceed $2,000,000 (instead of $500,000). In a Section concerning guarantees for existing debt, provides that the Illinois Agricultural Loan Guarantee Fund shall guarantee receipt of payment of 90% (instead of 85%) of the principal and interest owed on the State Guarantee Loan by the farmer to the guarantee holder. Effective immediately.

IFA-AG GUARANTEE-RAISE LIMIT

Rep. Christopher Davidsmeyer [R]

Date	Chamber	Action
2014-12-03	House	Session Sine Die
2013-03-22	House	Rule 19(a) / Re-referred to Rules Committee
2013-03-04	House	Assigned to Executive Committee
2013-02-26	House	Referred to Rules Committee
2013-02-26	House	First Reading
2013-02-22	House	Filed with the Clerk by Rep. C.D. Davidsmeyer

Chapter	Article	Section	Citation Type	Statute Text
20	3501	830-20	Amended Code	Citation Text
20	3501	830-30	Amended Code	Citation Text
20	3501	830-35	Amended Code	Citation Text
20	3501	830-45	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2826&GAID=12&DocTypeID=HB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/HB/09800HB2826.htm