State Government Administration Committee

Filed: 7/23/2004

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 1046

2     AMENDMENT NO. ______. Amend Senate Bill 1046 by replacing
3 everything after the enacting clause with the following: and
 
4     "Section 5. The Illinois Finance Authority Act is amended
5 by changing Section 801-10 as follows:
 
6     (20 ILCS 3501/801-10)
7     Sec. 801-10. Definitions. The following terms, whenever
8 used or referred to in this Act, shall have the following
9 meanings, except in such instances where the context may
10 clearly indicate otherwise:
11     (a) The term "Authority" means the Illinois Finance
12 Authority created by this Act.
13     (b) The term "project" means an industrial project, housing
14 project, public purpose project, higher education project,
15 health facility project, cultural institution project,
16 agricultural facility or agribusiness, and "project" may
17 include any combination of one or more of the foregoing
18 undertaken jointly by any person with one or more other
19 persons, but "project" shall not include any facility used or
20 to be used for sectarian instruction or as a place of religious
21 worship nor any facility which is used or to be used primarily
22 in connection with any part of the program of a school or
23 department of divinity for any religious denomination or the
24 training of ministers, priests, rabbis or other professional

 

 

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1 persons in the field of religion.
2     (c) The term "public purpose project" means any project or
3 facility including without limitation land, buildings,
4 structures, machinery, equipment and all other real and
5 personal property, which is authorized or required by law to be
6 acquired, constructed, improved, rehabilitated, reconstructed,
7 replaced or maintained by any unit of government or any other
8 lawful public purpose which is authorized or required by law to
9 be undertaken by any unit of government.
10     (d) The term "industrial project" means the acquisition,
11 construction, refurbishment, creation, development or
12 redevelopment of any facility, equipment, machinery, real
13 property or personal property for use by any instrumentality of
14 the State or its political subdivisions, for use by any person
15 or institution, public or private, for profit or not for
16 profit, or for use in any trade or business including, but not
17 limited to, any industrial, manufacturing or commercial
18 enterprise and which is (1) a capital project including but not
19 limited to: (i) land and any rights therein, one or more
20 buildings, structures or other improvements, machinery and
21 equipment, whether now existing or hereafter acquired, and
22 whether or not located on the same site or sites; (ii) all
23 appurtenances and facilities incidental to the foregoing,
24 including, but not limited to utilities, access roads, railroad
25 sidings, track, docking and similar facilities, parking
26 facilities, dockage, wharfage, railroad roadbed, track,
27 trestle, depot, terminal, switching and signaling or related
28 equipment, site preparation and landscaping; and (iii) all
29 non-capital costs and expenses relating thereto or (2) any
30 addition to, renovation, rehabilitation or improvement of a
31 capital project or (3) any activity or undertaking which the
32 Authority determines will aid, assist or encourage economic
33 growth, development or redevelopment within the State or any
34 area thereof, will promote the expansion, retention or

 

 

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1 diversification of employment opportunities within the State
2 or any area thereof or will aid in stabilizing or developing
3 any industry or economic sector of the State economy. The term
4 "industrial project" also means the production of motion
5 pictures.
6     (e) The term "bond" or "bonds" shall include bonds, notes
7 (including bond, grant or revenue anticipation notes),
8 certificates and/or other evidences of indebtedness
9 representing an obligation to pay money, including refunding
10 bonds.
11     (f) The terms "lease agreement" and "loan agreement" shall
12 mean: (i) an agreement whereby a project acquired by the
13 Authority by purchase, gift or lease is leased to any person,
14 corporation or unit of local government which will use or cause
15 the project to be used as a project as heretofore defined upon
16 terms providing for lease rental payments at least sufficient
17 to pay when due all principal of, interest and premium, if any,
18 on any bonds of the Authority issued with respect to such
19 project, providing for the maintenance, insuring and operation
20 of the project on terms satisfactory to the Authority,
21 providing for disposition of the project upon termination of
22 the lease term, including purchase options or abandonment of
23 the premises, and such other terms as may be deemed desirable
24 by the Authority, or (ii) any agreement pursuant to which the
25 Authority agrees to loan the proceeds of its bonds issued with
26 respect to a project or other funds of the Authority to any
27 person which will use or cause the project to be used as a
28 project as heretofore defined upon terms providing for loan
29 repayment installments at least sufficient to pay when due all
30 principal of, interest and premium, if any, on any bonds of the
31 Authority, if any, issued with respect to the project, and
32 providing for maintenance, insurance and other matters as may
33 be deemed desirable by the Authority.
34     (g) The term "financial aid" means the expenditure of

 

 

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1 Authority funds or funds provided by the Authority through the
2 issuance of its bonds, notes or other evidences of indebtedness
3 or from other sources for the development, construction,
4 acquisition or improvement of a project.
5     (h) The term "person" means an individual, corporation,
6 unit of government, business trust, estate, trust, partnership
7 or association, 2 or more persons having a joint or common
8 interest, or any other legal entity.
9     (i) The term "unit of government" means the federal
10 government, the State or unit of local government, a school
11 district, or any agency or instrumentality, office, officer,
12 department, division, bureau, commission, college or
13 university thereof.
14     (j) The term "health facility" means: (a) any public or
15 private institution, place, building, or agency required to be
16 licensed under the Hospital Licensing Act; (b) any public or
17 private institution, place, building, or agency required to be
18 licensed under the Nursing Home Care Act; (c) any public or
19 licensed private hospital as defined in the Mental Health and
20 Developmental Disabilities Code; (d) any such facility
21 exempted from such licensure when the Director of Public Health
22 attests that such exempted facility meets the statutory
23 definition of a facility subject to licensure; (e) any other
24 public or private health service institution, place, building,
25 or agency which the Director of Public Health attests is
26 subject to certification by the Secretary, U.S. Department of
27 Health and Human Services under the Social Security Act, as now
28 or hereafter amended, or which the Director of Public Health
29 attests is subject to standard-setting by a recognized public
30 or voluntary accrediting or standard-setting agency; (f) any
31 public or private institution, place, building or agency
32 engaged in providing one or more supporting services to a
33 health facility; (g) any public or private institution, place,
34 building or agency engaged in providing training in the healing

 

 

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1 arts, including but not limited to schools of medicine,
2 dentistry, osteopathy, optometry, podiatry, pharmacy or
3 nursing, schools for the training of x-ray, laboratory or other
4 health care technicians and schools for the training of
5 para-professionals in the health care field; (h) any public or
6 private congregate, life or extended care or elderly housing
7 facility or any public or private home for the aged or infirm,
8 including, without limitation, any Facility as defined in the
9 Life Care Facilities Act; (i) any public or private mental,
10 emotional or physical rehabilitation facility or any public or
11 private educational, counseling, or rehabilitation facility or
12 home, for those persons with a developmental disability, those
13 who are physically ill or disabled, the emotionally disturbed,
14 those persons with a mental illness or persons with learning or
15 similar disabilities or problems; (j) any public or private
16 alcohol, drug or substance abuse diagnosis, counseling
17 treatment or rehabilitation facility, (k) any public or private
18 institution, place, building or agency licensed by the
19 Department of Children and Family Services or which is not so
20 licensed but which the Director of Children and Family Services
21 attests provides child care, child welfare or other services of
22 the type provided by facilities subject to such licensure; (l)
23 any public or private adoption agency or facility; and (m) any
24 public or private blood bank or blood center. "Health facility"
25 also means a public or private structure or structures suitable
26 primarily for use as a laboratory, laundry, nurses or interns
27 residence or other housing or hotel facility used in whole or
28 in part for staff, employees or students and their families,
29 patients or relatives of patients admitted for treatment or
30 care in a health facility, or persons conducting business with
31 a health facility, physician's facility, surgicenter,
32 administration building, research facility, maintenance,
33 storage or utility facility and all structures or facilities
34 related to any of the foregoing or required or useful for the

 

 

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1 operation of a health facility, including parking or other
2 facilities or other supporting service structures required or
3 useful for the orderly conduct of such health facility.
4     (k) The term "participating health institution" means a
5 private corporation or association or public entity of this
6 State, authorized by the laws of this State to provide or
7 operate a health facility as defined in this Act and which,
8 pursuant to the provisions of this Act, undertakes the
9 financing, construction or acquisition of a project or
10 undertakes the refunding or refinancing of obligations, loans,
11 indebtedness or advances as provided in this Act.
12     (l) The term "health facility project", means a specific
13 health facility work or improvement to be financed or
14 refinanced (including without limitation through reimbursement
15 of prior expenditures), acquired, constructed, enlarged,
16 remodeled, renovated, improved, furnished, or equipped, with
17 funds provided in whole or in part hereunder, any accounts
18 receivable, working capital, liability or insurance cost or
19 operating expense financing or refinancing program of a health
20 facility with or involving funds provided in whole or in part
21 hereunder, or any combination thereof.
22     (m) The term "bond resolution" means the resolution or
23 resolutions authorizing the issuance of, or providing terms and
24 conditions related to, bonds issued under this Act and
25 includes, where appropriate, any trust agreement, trust
26 indenture, indenture of mortgage or deed of trust providing
27 terms and conditions for such bonds.
28     (n) The term "property" means any real, personal or mixed
29 property, whether tangible or intangible, or any interest
30 therein, including, without limitation, any real estate,
31 leasehold interests, appurtenances, buildings, easements,
32 equipment, furnishings, furniture, improvements, machinery,
33 rights of way, structures, accounts, contract rights or any
34 interest therein.

 

 

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1     (o) The term "revenues" means, with respect to any project,
2 the rents, fees, charges, interest, principal repayments,
3 collections and other income or profit derived therefrom.
4     (p) The term "higher education project" means, in the case
5 of a private institution of higher education, an educational
6 facility to be acquired, constructed, enlarged, remodeled,
7 renovated, improved, furnished, or equipped, or any
8 combination thereof.
9     (q) The term "cultural institution project" means, in the
10 case of a cultural institution, a cultural facility to be
11 acquired, constructed, enlarged, remodeled, renovated,
12 improved, furnished, or equipped, or any combination thereof.
13     (r) The term "educational facility" means any property
14 located within the State constructed or acquired before or
15 after the effective date of this Act, which is or will be, in
16 whole or in part, suitable for the instruction, feeding,
17 recreation or housing of students, the conducting of research
18 or other work of a private institution of higher education, the
19 use by a private institution of higher education in connection
20 with any educational, research or related or incidental
21 activities then being or to be conducted by it, or any
22 combination of the foregoing, including, without limitation,
23 any such property suitable for use as or in connection with any
24 one or more of the following: an academic facility,
25 administrative facility, agricultural facility, assembly hall,
26 athletic facility, auditorium, boating facility, campus,
27 communication facility, computer facility, continuing
28 education facility, classroom, dining hall, dormitory,
29 exhibition hall, fire fighting facility, fire prevention
30 facility, food service and preparation facility, gymnasium,
31 greenhouse, health care facility, hospital, housing,
32 instructional facility, laboratory, library, maintenance
33 facility, medical facility, museum, offices, parking area,
34 physical education facility, recreational facility, research

 

 

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1 facility, stadium, storage facility, student union, study
2 facility, theatre or utility. An educational facility shall not
3 include any property used or to be used for sectarian
4 instruction or study or as a place for devotional activities or
5 religious worship nor any property which is used or to be used
6 primarily in connection with any part of the program of a
7 school or department of divinity for any religious
8 denomination.
9     (s) The term "cultural facility" means any property located
10 within the State constructed or acquired before or after the
11 effective date of this Act, which is or will be, in whole or in
12 part, suitable for the particular purposes or needs of a
13 cultural institution, including, without limitation, any such
14 property suitable for use as or in connection with any one or
15 more of the following: an administrative facility, aquarium,
16 assembly hall, auditorium, botanical garden, exhibition hall,
17 gallery, greenhouse, library, museum, scientific laboratory,
18 theater or zoological facility, and shall also include, without
19 limitation, books, works of art or music, animal, plant or
20 aquatic life or other items for display, exhibition or
21 performance. The term "cultural facility" includes buildings
22 on the National Register of Historic Places which are owned or
23 operated by nonprofit entities. A cultural facility shall not
24 include any property used or to be used for sectarian
25 instruction or study or as a place for devotional activities or
26 religious worship nor any property which is used or to be used
27 primarily in connection with any part of the program of a
28 school or department of divinity for any religious
29 denomination.
30     (t) "Private institution of higher education" means a
31 not-for-profit educational institution which is not owned by
32 the State or any political subdivision, agency,
33 instrumentality, district or municipality thereof, which is
34 authorized by law to provide a program of education beyond the

 

 

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1 high school level and which:
2         (1) Admits as regular students only individuals having
3     a certificate of graduation from a high school, or the
4     recognized equivalent of such a certificate;
5         (2) Provides an educational program for which it awards
6     a bachelor's degree, or provides an educational program,
7     admission into which is conditioned upon the prior
8     attainment of a bachelor's degree or its equivalent, for
9     which it awards a postgraduate degree, or provides not less
10     than a 2-year program which is acceptable for full credit
11     toward such a degree, or offers a 2-year program in
12     engineering, mathematics, or the physical or biological
13     sciences which is designed to prepare the student to work
14     as a technician and at a semiprofessional level in
15     engineering, scientific, or other technological fields
16     which require the understanding and application of basic
17     engineering, scientific, or mathematical principles or
18     knowledge;
19         (3) Is accredited by a nationally recognized
20     accrediting agency or association or, if not so accredited,
21     is an institution whose credits are accepted, on transfer,
22     by not less than 3 institutions which are so accredited,
23     for credit on the same basis as if transferred from an
24     institution so accredited, and holds an unrevoked
25     certificate of approval under the Private College Act from
26     the Board of Higher Education, or is qualified as a "degree
27     granting institution" under the Academic Degree Act; and
28         (4) Does not discriminate in the admission of students
29     on the basis of race or , color or creed. "Private
30     institution of higher education" also includes any
31     "academic institution".
32     (u) The term "academic institution" means any
33 not-for-profit institution which is not owned by the State or
34 any political subdivision, agency, instrumentality, district

 

 

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1 or municipality thereof, which institution engages in, or
2 facilitates academic, scientific, educational or professional
3 research or learning in a field or fields of study taught at a
4 private institution of higher education. Academic institutions
5 include, without limitation, libraries, archives, academic,
6 scientific, educational or professional societies,
7 institutions, associations or foundations having such
8 purposes. Academic institution does not include any school or
9 any institution primarily engaged in religious or sectarian
10 activities.
11     (v) The term "cultural institution" means any
12 not-for-profit institution which is not owned by the State or
13 any political subdivision, agency, instrumentality, district
14 or municipality thereof, which institution engages in the
15 cultural, intellectual, scientific, educational or artistic
16 enrichment of the people of the State. Cultural institutions
17 include, without limitation, aquaria, botanical societies,
18 historical societies, libraries, museums, performing arts
19 associations or societies, scientific societies and zoological
20 societies. Cultural institution does not include any
21 institution primarily engaged in religious or sectarian
22 activities.
23     (w) The term "affiliate" means, with respect to financing
24 of an agricultural facility or an agribusiness, any lender, any
25 person, firm or corporation controlled by, or under common
26 control with, such lender, and any person, firm or corporation
27 controlling such lender.
28     (x) The term "agricultural facility" means land, any
29 building or other improvement thereon or thereto, and any
30 personal properties deemed necessary or suitable for use,
31 whether or not now in existence, in farming, ranching, the
32 production of agricultural commodities (including, without
33 limitation, the products of aquaculture, hydroponics and
34 silviculture) or the treating, processing or storing of such

 

 

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1 agricultural commodities when such activities are customarily
2 engaged in by farmers as a part of farming.
3     (y) The term "lender" with respect to financing of an
4 agricultural facility or an agribusiness, means any federal or
5 State chartered bank, Federal Land Bank, Production Credit
6 Association, Bank for Cooperatives, federal or State chartered
7 savings and loan association or building and loan association,
8 Small Business Investment Company or any other institution
9 qualified within this State to originate and service loans,
10 including, but without limitation to, insurance companies,
11 credit unions and mortgage loan companies. "Lender" also means
12 a wholly owned subsidiary of a manufacturer, seller or
13 distributor of goods or services that makes loans to businesses
14 or individuals, commonly known as a "captive finance company".
15     (z) The term "agribusiness" means any sole proprietorship,
16 limited partnership, co-partnership, joint venture,
17 corporation or cooperative which operates or will operate a
18 facility located within the State of Illinois that is related
19 to the processing of agricultural commodities (including,
20 without limitation, the products of aquaculture, hydroponics
21 and silviculture) or the manufacturing, production or
22 construction of agricultural buildings, structures, equipment,
23 implements, and supplies, or any other facilities or processes
24 used in agricultural production. Agribusiness includes but is
25 not limited to the following:
26         (1) grain handling and processing, including grain
27     storage, drying, treatment, conditioning, mailing and
28     packaging;
29         (2) seed and feed grain development and processing;
30         (3) fruit and vegetable processing, including
31     preparation, canning and packaging;
32         (4) processing of livestock and livestock products,
33     dairy products, poultry and poultry products, fish or
34     apiarian products, including slaughter, shearing,

 

 

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1     collecting, preparation, canning and packaging;
2         (5) fertilizer and agricultural chemical
3     manufacturing, processing, application and supplying;
4         (6) farm machinery, equipment and implement
5     manufacturing and supplying;
6         (7) manufacturing and supplying of agricultural
7     commodity processing machinery and equipment, including
8     machinery and equipment used in slaughter, treatment,
9     handling, collecting, preparation, canning or packaging of
10     agricultural commodities;
11         (8) farm building and farm structure manufacturing,
12     construction and supplying;
13         (9) construction, manufacturing, implementation,
14     supplying or servicing of irrigation, drainage and soil and
15     water conservation devices or equipment;
16         (10) fuel processing and development facilities that
17     produce fuel from agricultural commodities or byproducts;
18         (11) facilities and equipment for processing and
19     packaging agricultural commodities specifically for
20     export;
21         (12) facilities and equipment for forestry product
22     processing and supplying, including sawmilling operations,
23     wood chip operations, timber harvesting operations, and
24     manufacturing of prefabricated buildings, paper, furniture
25     or other goods from forestry products;
26         (13) facilities and equipment for research and
27     development of products, processes and equipment for the
28     production, processing, preparation or packaging of
29     agricultural commodities and byproducts.
30     (aa) The term "asset" with respect to financing of any
31 agricultural facility or any agribusiness, means, but is not
32 limited to the following: cash crops or feed on hand; livestock
33 held for sale; breeding stock; marketable bonds and securities;
34 securities not readily marketable; accounts receivable; notes

 

 

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1 receivable; cash invested in growing crops; net cash value of
2 life insurance; machinery and equipment; cars and trucks; farm
3 and other real estate including life estates and personal
4 residence; value of beneficial interests in trusts; government
5 payments or grants; and any other assets.
6     (bb) The term "liability" with respect to financing of any
7 agricultural facility or any agribusiness shall include, but
8 not be limited to the following: accounts payable; notes or
9 other indebtedness owed to any source; taxes; rent; amounts
10 owed on real estate contracts or real estate mortgages;
11 judgments; accrued interest payable; and any other liability.
12     (cc) The term "Predecessor Authorities" means those
13 authorities as described in Section 845-75.
14     (dd) The term "housing project" means a specific work or
15 improvement undertaken to provide residential dwelling
16 accommodations, including the acquisition, construction or
17 rehabilitation of lands, buildings and community facilities
18 and in connection therewith to provide nonhousing facilities
19 which are part of the housing project, including land,
20 buildings, improvements, equipment and all ancillary
21 facilities for use for offices, stores, retirement homes,
22 hotels, financial institutions, service, health care,
23 education, recreation or research establishments, or any other
24 commercial purpose which are or are to be related to a housing
25 development.
26 (Source: P.A. 93-205, eff. 1-1-04.)
 
27     Section 99. Effective date. This Act takes effect upon
28 becoming law.".