Illinois General Assembly - Bill Status for HB5117

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Bill Status of HB5117 97th General Assembly

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Short Description: IFA-NATURAL GAS LOAN GUARANTEE

House Sponsors
Rep. Wayne Rosenthal

Last Action

Date	Chamber	Action
1/8/2013	House	Session Sine Die

Statutes Amended In Order of Appearance

20 ILCS 3501/830-60 new

Synopsis As Introduced
Amends the Illinois Finance Authority Act. Creates the Rural Natural Gas Expansion Loan Guarantee Program. Authorizes the Authority to issue State Guarantees to lenders for loans to agribusinesses for the purpose of expanding or increasing capacity of natural gas lines for their agribusiness. Provides that lenders shall apply for the State Guarantees on forms provided by the Authority. Provides that the lender must agree to charge an interest rate, which may vary, that the Authority determines to be below the market rate of interest generally available to the agribusiness. Provides that a State Guarantee shall not exceed $5,000,000 per agribusiness. Provides that the Illinois Farmer and Agribusiness Loan Guarantee Fund may be used to secure State Guarantees.

Actions

Date	Chamber	Action
2/8/2012	House	Filed with the Clerk by Rep. Wayne Rosenthal
2/8/2012	House	First Reading
2/8/2012	House	Referred to Rules Committee
1/8/2013	House	Session Sine Die

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