093_HB2420

 
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 1        AN ACT concerning farm development.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.  The Illinois Farm Development Act is amended
 5    by changing Sections 12.1, 12.2, 12.4, and 12.5 as follows:

 6        (20 ILCS 3605/12.1) (from Ch. 5, par. 1212.1)
 7        Sec. 12.1.  State Guarantees for existing debt.
 8        (a)  The  Authority  is   authorized   to   issue   State
 9    Guarantees  for farmers' existing debts held by a lender. For
10    the purposes of this Section, a farmer shall be a resident of
11    Illinois, who is a principal operator of a farm or  land,  at
12    least  50%  of  whose  annual  gross  income  is derived from
13    farming and whose debt to asset ratio shall not be less  than
14    40%, except in those cases where the applicant has previously
15    used  the  guarantee  program there shall be no debt to asset
16    ratio or  income  restriction.   For  the  purposes  of  this
17    Section,   debt   to  asset  ratio  shall  mean  the  current
18    outstanding liabilities of the farmer divided by the  current
19    outstanding  assets  of  the  farmer.   The  Authority  shall
20    establish  the  maximum permissible debt to asset ratio based
21    on criteria established by the Authority.
22        Lenders shall apply for the  State  Guarantees  on  forms
23    provided  by  the  Authority and certify that the application
24    and any other documents submitted are true and correct.   The
25    lender  or  borrower,  or  both  in combination, shall pay an
26    administrative fee  as  determined  by  the  Authority.   The
27    applicant shall be responsible for paying any fees or charges
28    involved   in   recording   mortgages,   releases,  financing
29    statements, insurance for secondary  market  issues  and  any
30    other  similar  fees or charges as the Authority may require.
31    The application shall at a minimum contain the farmer's name,
 
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 1    address, present credit and financial information,  including
 2    cash  flow  statements, financial statements, balance sheets,
 3    and any other information pertinent to the  application,  and
 4    the  collateral to be used to secure the State Guarantee.  In
 5    addition, the lender must agree to bring the farmer's debt to
 6    a current status at the time the State Guarantee is  provided
 7    and  must also agree to charge a fixed or adjustable interest
 8    rate which the Authority determines to be  below  the  market
 9    rate  of  interest  generally  available to the borrower.  If
10    both the lender and applicant agree, the interest rate on the
11    State Guarantee Loan can be converted  to  a  fixed  interest
12    rate at any time during the term of the loan.
13        Any  State  Guarantees  provided  under  this Section (i)
14    shall not exceed $500,000 per farmer, (ii) shall be set up on
15    a payment schedule not to exceed 30 years, and  shall  be  no
16    longer  than 30 years in duration, and (iii) shall be subject
17    to an annual  review  and  renewal  by  the  lender  and  the
18    Authority;  provided that only one such State Guarantee shall
19    be  outstanding  per  farmer  at  any  one  time.   No  State
20    Guarantee shall be revoked by the Authority without a 90  day
21    notice,  in writing, to all parties.  In those cases were the
22    borrower has not previously used the guarantee  program,  the
23    lender  shall  not call due any loan during the first 3 years
24    for any reason except for lack of performance or insufficient
25    collateral. The lender can review and  withdraw  or  continue
26    with the State Guarantee on an annual basis after the first 3
27    years  of  the loan, provided a 90 day notice, in writing, to
28    all parties has been given.
29        (b)  The  Authority  shall  provide  or  renew  a   State
30    Guarantee to a lender if:
31             (i)  A  fee  equal to 25 basis points on the loan is
32        paid to the Authority on an annual basis by the lender.
33             (ii)  The application provides collateral acceptable
34        to the Authority that is at least equal  to  the  State's
 
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 1        portion of the Guarantee to be provided.
 2             (iii)  The  lender  assumes  all  responsibility and
 3        costs for pursuing legal action on  collecting  any  loan
 4        that is delinquent or in default.
 5             (iv)  The lender is responsible for the first 15% of
 6        the outstanding principal of the note for which the State
 7        Guarantee has been applied.
 8        (c)  There   is  hereby  created  outside  of  the  State
 9    Treasury  a  special  fund  to  be  known  as  the   Illinois
10    Agricultural  Loan Guarantee Fund.  The State Treasurer shall
11    be custodian of this  Fund.   Any  amounts  in  the  Illinois
12    Agricultural Loan Guarantee Fund not currently needed to meet
13    the  obligations of the Fund shall be invested as provided by
14    law, and all interest earned from these investments shall  be
15    deposited  into  the  Fund until the Fund reaches the maximum
16    amount authorized in this Act;  thereafter,  interest  earned
17    shall  be  deposited  into  the  General  Revenue Fund. After
18    September 1, 1989, annual investment earnings equal  to  1.5%
19    of  the  Fund  shall  remain  in  the Fund to be used for the
20    purposes established in Section 12.3 of this Act.
21        The Authority is authorized to transfer to the Fund  such
22    amounts  as  are  necessary  to  satisfy  claims  during  the
23    duration  of  the  State  Guarantee  program  to secure State
24    Guarantees issued under this Section. If for any  reason  the
25    General Assembly fails to make an appropriation sufficient to
26    meet   these   obligations,  this  Act  shall  constitute  an
27    irrevocable  and  continuing  appropriation  of   an   amount
28    necessary  to  secure  guarantees  as  defaults occur and the
29    irrevocable and continuing authority for, and  direction  to,
30    the State Treasurer and the Comptroller to make the necessary
31    transfers  to  the Illinois Agricultural Loan Guarantee Fund,
32    as directed by the Governor, out of the General Revenue Fund.
33        Within 30 days after November 15, 1985, the Authority may
34    transfer up to $7,000,000 from available appropriations  into
 
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 1    the   Illinois  Agricultural  Loan  Guarantee  Fund  for  the
 2    purposes of this Act.  Thereafter, the Authority may transfer
 3    additional  amounts  into  the  Illinois  Agricultural   Loan
 4    Guarantee  Fund to secure guarantees for defaults as defaults
 5    occur.
 6        In the event of default by the farmer, the  lender  shall
 7    be  entitled  to,  and the Authority shall direct payment on,
 8    the State  Guarantee  after  90  days  of  delinquency.   All
 9    payments  by  the  Authority  shall be made from the Illinois
10    Agricultural Loan Guarantee Fund to  satisfy  claims  against
11    the   State   Guarantee.    The  Illinois  Agricultural  Loan
12    Guarantee Fund shall guarantee receipt of payment of the  85%
13    of  the  principal  and  interest owed on the State Guarantee
14    Loan by the farmer to the guarantee holder.
15        It shall be the responsibility of the lender  to  proceed
16    with  the collecting and disposing of collateral on the State
17    Guarantee within 14 months of the time the State Guarantee is
18    declared delinquent; provided, however, that the lender shall
19    not collect or dispose of collateral on the  State  Guarantee
20    without  the express written prior approval of the Authority.
21    If the lender does not dispose of the  collateral  within  14
22    months,  the  lender  shall  be  liable to repay to the State
23    interest on the State Guarantee equal to the same rate  which
24    the lender charges on the State Guarantee; provided, however,
25    that  the  Authority  may  extend  the  14 month period for a
26    lender   in   the   case   of   bankruptcy   or   extenuating
27    circumstances. The Fund shall be reimbursed for  any  amounts
28    paid  under  this Section upon liquidation of the collateral.
29    The Authority, by resolution of the Board,  may  borrow  sums
30    from  the  Fund  and  provide for repayment as soon as may be
31    practical upon receipt of payments of principal and  interest
32    by  a  farmer.  Money  may  be  borrowed from the Fund by the
33    Authority for the sole purpose  of  paying  certain  interest
34    costs for farmers associated with selling a loan subject to a
 
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 1    State  Guarantee  in  a  secondary  market  as  may be deemed
 2    reasonable and necessary by the Authority.
 3        (d)  Notwithstanding the provisions of this Section  12.1
 4    with  respect to the farmers and lenders who may obtain State
 5    Guarantees, the Authority may promulgate  rules  establishing
 6    the  eligibility of farmers and lenders to participate in the
 7    State  guarantee  program  and  the  terms,  standards,   and
 8    procedures  that  will  apply,  when the Authority finds that
 9    emergency conditions in Illinois agriculture have created the
10    need for State Guarantees pursuant to terms,  standards,  and
11    procedures other than those specified in this Section.
12    (Source: P.A. 90-325, eff. 8-8-97; 91-386, eff. 1-1-00.)

13        (20 ILCS 3605/12.2) (from Ch. 5, par. 1212.2)
14        Sec.  12.2.  State  Guarantees  for  loans to farmers and
15    agribusiness; eligibility.
16        (a)  The  Authority  is   authorized   to   issue   State
17    Guarantees  to  lenders  for  loans  to  eligible farmers and
18    agribusinesses for purposes set forth in  this  Section.  For
19    purposes  of  this  Section,  an  eligible  farmer shall be a
20    resident of Illinois (i) who is principal operator of a  farm
21    or land, at least 50% of whose annual gross income is derived
22    from  farming,  (ii) whose annual total sales of agricultural
23    products, commodities,  or  livestock  exceeds  $20,000,  and
24    (iii)  whose  net worth does not exceed $500,000. An eligible
25    agribusiness shall be that as defined in Section  2  of  this
26    Act.
27        The  Authority  may  approve  applications by farmers and
28    agribusinesses  that  promote  diversification  of  the  farm
29    economy of this State through the growth and  development  of
30    new  crops  or livestock not customarily grown or produced in
31    this State or that emphasize a vertical integration of  grain
32    or livestock produced or raised in this State into a finished
33    agricultural  product  for consumption or use.  "New crops or
 
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 1    livestock not customarily grown or produced  in  this  State"
 2    shall  not  include  corn, soybeans, wheat, swine, or beef or
 3    dairy cattle. "Vertical integration  of  grain  or  livestock
 4    produced  or  raised  in this State" shall include any new or
 5    existing grain or livestock grown or produced in this State.
 6        Lenders shall apply for the  State  Guarantees  on  forms
 7    provided  by  the Authority, certify that the application and
 8    any other documents submitted are true and correct,  and  pay
 9    an  administrative  fee  as determined by the Authority.  The
10    applicant shall be responsible for paying any fees or charges
11    involved  in   recording   mortgages,   releases,   financing
12    statements,  insurance  for  secondary  market issues and any
13    other similar fees or charges as the Authority  may  require.
14    The  application  shall  at a minimum contain the farmer's or
15    agribusiness' name, address,  present  credit  and  financial
16    information,   including   cash  flow  statements,  financial
17    statements,  balance  sheets,  and  any   other   information
18    pertinent  to  the application, and the collateral to be used
19    to secure the State Guarantee.  In addition, the lender  must
20    agree to charge an interest rate, which may vary, on the loan
21    that  the Authority determines to be below the market rate of
22    interest generally available to the  borrower.  If  both  the
23    lender  and  applicant  agree, the interest rate on the State
24    Guarantee Loan can be converted to a fixed interest  rate  at
25    any time during the term of the loan.
26        Any  State  Guarantees  provided  under  this Section (i)
27    shall  not  exceed  $500,000  per  farmer  or  an  amount  as
28    determined by the Authority on a case-by-case  basis  for  an
29    agribusiness,  (ii)  shall not exceed a term of 15 years, and
30    (iii) shall be subject to an annual review and renewal by the
31    lender and the Authority; provided that only one  such  State
32    Guarantee  shall  be  made per farmer or agribusiness, except
33    that additional State Guarantees may be made for purposes  of
34    expansion of projects financed in part by a previously issued
 
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 1    State  Guarantee.  No State Guarantee shall be revoked by the
 2    Authority without  a  90  day  notice,  in  writing,  to  all
 3    parties.   The  lender  shall  not  call due any loan for any
 4    reason  except  for   lack   of   performance,   insufficient
 5    collateral, or maturity.  A lender may review and withdraw or
 6    continue  with a State Guarantee on an annual basis after the
 7    first 5 years following closing of the  loan  application  if
 8    the  loan  contract  provides for an interest rate that shall
 9    not vary.  A lender shall not withdraw a State  Guarantee  if
10    the  loan  contract  provides  for  an interest rate that may
11    vary, except for reasons set forth herein.
12        (b)  The  Authority  shall  provide  or  renew  a   State
13    Guarantee to a lender if:
14             i.  A  fee  equal  to 25 basis points on the loan is
15        paid to the Authority on an annual basis by the lender.
16             ii.  The application provides collateral  acceptable
17        to  the  Authority  that is at least equal to the State's
18        portion of the Guarantee to be provided.
19             iii.  The  lender  assumes  all  responsibility  and
20        costs for pursuing legal action on  collecting  any  loan
21        that is delinquent or in default.
22             iv.  The  lender is responsible for the first 15% of
23        the outstanding principal of the note for which the State
24        Guarantee has been applied.
25        (c)  There  is  hereby  created  outside  of  the   State
26    Treasury  a  special  fund to be known as the Illinois Farmer
27    and Agribusiness Loan Guarantee Fund.   The  State  Treasurer
28    shall be custodian of this Fund.  Any amounts in the Fund not
29    currently needed to meet the obligations of the Fund shall be
30    invested  as  provided  by  law, and all interest earned from
31    these investments shall be deposited into the Fund until  the
32    Fund  reaches  the  maximum  amounts  authorized in this Act;
33    thereafter, interest  earned  shall  be  deposited  into  the
34    General   Revenue  Fund.  After  September  1,  1989,  annual
 
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 1    investment earnings equal to 1.5% of the Fund shall remain in
 2    the Fund to be used for the purposes established  in  Section
 3    12.3 of this Act.
 4        The  Authority  is authorized to transfer such amounts as
 5    are necessary to satisfy claims from available appropriations
 6    and from fund balances of the Farm Emergency Assistance  Fund
 7    as  of  June  30  of  each  year  to  the Illinois Farmer and
 8    Agribusiness Loan Guarantee Fund to secure  State  Guarantees
 9    issued  under this Section and Sections 12.4 and 12.5. If for
10    any  reason  the  General   Assembly   fails   to   make   an
11    appropriation  sufficient to meet these obligations, this Act
12    shall constitute an irrevocable and continuing  appropriation
13    of an amount necessary to secure guarantees as defaults occur
14    and   the  irrevocable  and  continuing  authority  for,  and
15    direction to, the State Treasurer and the Comptroller to make
16    the  necessary  transfers  to   the   Illinois   Farmer   and
17    Agribusiness   Loan   Guarantee  Fund,  as  directed  by  the
18    Governor, out of the General Revenue Fund.
19        In  the  event  of  default  by  the  borrower  on  State
20    Guarantee Loans under this Section, Section 12.4, or  Section
21    12.5,  the  lender  shall  be  entitled to, and the Authority
22    shall direct payment on, the State Guarantee after 90 days of
23    delinquency.  All payments by the  Authority  shall  be  made
24    from the Illinois Farmer and Agribusiness Loan Guarantee Fund
25    to satisfy claims against the State Guarantee.
26        It  shall  be the responsibility of the lender to proceed
27    with the collecting and disposing of collateral on the  State
28    Guarantee  under  this Section, Section 12.4, or Section 12.5
29    within 14 months of the time the State Guarantee is  declared
30    delinquent.  If the lender does not dispose of the collateral
31    within  14 months, the lender shall be liable to repay to the
32    State interest on the State Guarantee equal to the same  rate
33    that the lender charges on the State Guarantee, provided that
34    the Authority shall have the authority to extend the 14 month
 
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 1    period  for a lender in the case of bankruptcy or extenuating
 2    circumstances. The Fund shall be reimbursed for  any  amounts
 3    paid  under  this Section, Section 12.4, or Section 12.5 upon
 4    liquidation of the collateral.
 5        The Authority, by resolution of  the  Board,  may  borrow
 6    sums  from  the Fund and provide for repayment as soon as may
 7    be practical  upon  receipt  of  payments  of  principal  and
 8    interest  by  a  borrower on State Guarantee Loans under this
 9    Section, Section 12.4, or Section 12.5. Money may be borrowed
10    from the Fund by the Authority for the sole purpose of paying
11    certain interest costs for borrowers associated with  selling
12    a  loan  subject  to  a  State  Guarantee under this Section,
13    Section 12.4, or Section 12.5 in a secondary market as may be
14    deemed reasonable and necessary by the Authority.
15        (d)  Notwithstanding the provisions of this Section  12.2
16    with  respect to the farmers, agribusinesses, and lenders who
17    may obtain State Guarantees,  the  Authority  may  promulgate
18    rules    establishing    the    eligibility    of    farmers,
19    agribusinesses,  and  lenders  to  participate  in  the State
20    Guarantee program and the terms,  standards,  and  procedures
21    that  will  apply,  when  the  Authority finds that emergency
22    conditions in Illinois agriculture have created the need  for
23    State Guarantees pursuant to terms, standards, and procedures
24    other than those specified in this Section.
25    (Source: P.A. 90-325, eff. 8-8-97; 91-386, eff. 1-1-00.)

26        (20 ILCS 3605/12.4) (from Ch. 5, par. 1212.4)
27        Sec. 12.4.  Young Farmer Loan Guarantee Program.
28        (a)  The   Authority   is   authorized   to  issue  State
29    Guarantees to lenders for loans to finance or refinance debts
30    of young farmers.  For the purposes of this Section, a  young
31    farmer  is a resident of Illinois who is at least 18 years of
32    age and who is a principal operator of a farm  or  land,  who
33    derives  at  least  50%  of annual gross income from farming,
 
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 1    whose net worth is not less than $10,000 and  whose  debt  to
 2    asset  ratio  is  not less than 40%. For the purposes of this
 3    Section,  debt  to  asset  ratio  means  current  outstanding
 4    liabilities, including any debt to be financed or  refinanced
 5    under  this  Section,  divided by current outstanding assets.
 6    The Authority shall establish the maximum permissible debt to
 7    asset ratio based on criteria established by the Authority.
 8        Lenders shall apply for the  State  Guarantees  on  forms
 9    provided  by  the  Authority and certify that the application
10    and any other documents submitted are true and correct.   The
11    lender  or  borrower,  or  both  in combination, shall pay an
12    administrative fee  as  determined  by  the  Authority.   The
13    applicant  shall  be responsible for paying any fee or charge
14    involved  in   recording   mortgages,   releases,   financing
15    statements,  insurance  for  secondary market issues, and any
16    other similar fee or charge that the Authority  may  require.
17    The application shall at a minimum contain the young farmer's
18    name,  address,  present  credit  and  financial information,
19    including cash flow statements, financial statements, balance
20    sheets,  and  any  other   information   pertinent   to   the
21    application,  and  the  collateral  to  be used to secure the
22    State Guarantee.  In addition, the borrower must  certify  to
23    the  Authority  that,  at  the  time  the  State Guarantee is
24    provided,  the  borrower  will  not  be  delinquent  in   the
25    repayment  of  any  debt.   The lender must agree to charge a
26    fixed  or  adjustable  interest  rate  that   the   Authority
27    determines  to be below the market rate of interest generally
28    available to the borrower.  If both the lender and  applicant
29    agree,  the interest rate on the State guaranteed loan can be
30    converted to a fixed interest rate at  any  time  during  the
31    term of the loan.
32        State  Guarantees  provided  under this Section (i) shall
33    not exceed $500,000 per young farmer, (ii) shall be set up on
34    a payment schedule not to exceed 30 years, but  shall  be  no
 
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 1    longer  than 15 years in duration, and (iii) shall be subject
 2    to an annual  review  and  renewal  by  the  lender  and  the
 3    Authority. A young farmer may use this program more than once
 4    provided  the  aggregate principal amount of State Guarantees
 5    under this Section to  that  young  farmer  does  not  exceed
 6    $500,000.   No  State  Guarantee  shall  be  revoked  by  the
 7    Authority  without  a  90  day  notice,  in  writing,  to all
 8    parties.
 9        (b)  The  Authority  shall  provide  or  renew  a   State
10    Guarantee to a lender if:
11             (i)  The  lender pays a fee equal to 25 basis points
12        on the loan to the Authority on an annual basis.
13             (ii)  The application provides collateral acceptable
14        to the Authority that is at  least  equal  to  the  State
15        Guarantee.
16             (iii)  The  lender  assumes  all  responsibility and
17        costs for pursuing legal action on  collecting  any  loan
18        that is delinquent or in default.
19             (iv)  The lender is at risk for the first 15% of the
20        outstanding  principal  of  the  note for which the State
21        Guarantee is provided.
22        (c)  The Illinois Farmer and Agribusiness Loan  Guarantee
23    Fund may be used to secure State Guarantees issued under this
24    Section as provided in Section 12.2.
25        (d)  Notwithstanding  the provisions of this Section 12.4
26    with respect to the young farmers and lenders who may  obtain
27    State   Guarantees,   the   Authority  may  promulgate  rules
28    establishing the eligibility of young farmers and lenders  to
29    participate  in  the  State  Guarantee program and the terms,
30    standards, and procedures that will apply, when the Authority
31    finds that emergency conditions in Illinois agriculture  have
32    created  the  need  for  State  Guarantees pursuant to terms,
33    standards, and procedures other than those specified in  this
34    Section.
 
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 1    (Source: P.A. 90-325, eff. 8-8-97; 91-386, eff. 1-1-00.)

 2        (20 ILCS 3605/12.5)
 3        Sec. 12.5.  Specialized Livestock Guarantee Program.
 4        (a)  The   Authority   is   authorized   to  issue  State
 5    Guarantees to lenders for loans to finance or refinance debts
 6    for specialized livestock operations  that  are  or  will  be
 7    located  in  Illinois.   For  purposes  of  this  Section,  a
 8    "specialized   livestock  operation"  includes,  but  is  not
 9    limited to, dairy, beef, and swine enterprises.
10        (b)  Lenders shall apply  for  the  State  Guarantees  on
11    forms   provided  by  the  Authority  and  certify  that  the
12    application and any other documents submitted  are  true  and
13    correct.   The  lender  or  borrower, or both in combination,
14    shall  pay  an  administrative  fee  as  determined  by   the
15    Authority.  The applicant shall be responsible for paying any
16    fee  or  charge  involved  in  recording mortgages, releases,
17    financing statements, insurance for secondary market  issues,
18    and  any  other  similar fee or charge that the Authority may
19    require.  The application shall, at a  minimum,  contain  the
20    farmer's   name,   address,   present  credit  and  financial
21    information,  including  cash  flow   statements,   financial
22    statements,   balance   sheets,  and  any  other  information
23    pertinent to the application, and the collateral to  be  used
24    to  secure  the  State  Guarantee.  In addition, the borrower
25    must certify to the Authority that, at  the  time  the  State
26    Guarantee is provided, the borrower will not be delinquent in
27    the repayment of any debt.  The lender must agree to charge a
28    fixed   or   adjustable  interest  rate  that  the  Authority
29    determines to be below the market rate of interest  generally
30    available  to the borrower.  If both the lender and applicant
31    agree, the interest rate on the State guaranteed loan can  be
32    converted  to  a  fixed  interest rate at any time during the
33    term of the loan.
 
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 1        (c)  State Guarantees provided  under  this  Section  (i)
 2    shall  not  exceed $1,000,000 per applicant, (ii) shall be no
 3    longer  than 15 years in duration, and (iii) shall be subject
 4    to an annual  review  and  renewal  by  the  lender  and  the
 5    Authority.  An applicant may use this program more than once,
 6    provided  that  the  aggregate  principal  amount  of   State
 7    Guarantees  under  this  Section  to  that applicant does not
 8    exceed $1,000,000.  A State Guarantee shall not be revoked by
 9    the Authority without a 90-day notice,  in  writing,  to  all
10    parties.
11        (d)  The   Authority  shall  provide  or  renew  a  State
12    Guarantee to a lender if:
13             (i)  The lender pays a fee equal to 25 basis  points
14        on the loan to the Authority on an annual basis.
15             (ii)  The application provides collateral acceptable
16        to  the  Authority  that  is  at least equal to the State
17        Guarantee.
18             (iii)  The lender  assumes  all  responsibility  and
19        costs  for  pursuing  legal action on collecting any loan
20        that is delinquent or in default.
21             (iv)  The lender is at risk for the first 15% of the
22        outstanding principal of the note  for  which  the  State
23        Guarantee is provided.
24        (e)  The  Illinois Farmer and Agribusiness Loan Guarantee
25    Fund may be used to secure State Guarantees issued under this
26    Section as provided in Section 12.2.
27        (f)  Notwithstanding the provisions of this Section  12.5
28    with  respect  to  the  specialized  livestock operations and
29    lenders who may obtain State Guarantees,  the  Authority  may
30    promulgate  rules establishing the eligibility of specialized
31    livestock operations and lenders to participate in the  State
32    Guarantee  program  and  the terms, standards, and procedures
33    that will apply, when  the  Authority  finds  that  emergency
34    conditions  in Illinois agriculture have created the need for
 
                            -14-     LRB093 09685 BDD 09924 b
 1    State Guarantees pursuant to terms, standards, and procedures
 2    other than those specified in this Section.
 3    (Source: P.A. 91-386, eff. 1-1-00.)