IL HB4618 | 2015-2016 | 99th General Assembly
Status
Sponsorship: Partisan Bill (Republican 1)
Status: Introduced on February 1 2016 - 25% progression, died in committee
Action: 2016-02-01 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 1 2016 - 25% progression, died in committee
Action: 2016-02-01 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
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.
Title
IFA-AG GUARANTEE-RAISE LIMIT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2016-02-01 | House | Referred to Rules Committee |
| 2016-02-01 | House | First Reading |
| 2016-02-01 | House | Filed with the Clerk by Rep. C.D. Davidsmeyer |
Code Citations
| 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 |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4618&GAID=13&DocTypeID=HB&SessionID=88&GA=99 |
| Text | https://www.ilga.gov/legislation/99/HB/09900HB4618.htm |
