30 ILCS 435/ Human Services Provider Bond Reserve Payment Act.

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30 ILCS 435/1

(30 ILCS 435/1)

Sec. 1.

Short title.

This Act may be cited as the Human Services Provider Bond Reserve Payment Act.

(Source: P.A. 88-117.)

30 ILCS 435/5

(30 ILCS 435/5)

Sec. 5.

Purpose.

It is the purpose of this Act to enable human service
providers to obtain long-term funding on more favorable terms by providing a
mechanism whereby payments may be paid by the State directly to a trustee to
replenish a reserve fund.

(Source: P.A. 88-117.)

30 ILCS 435/10

(30 ILCS 435/10)

Sec. 10. Definitions. For the purposes of this Act:

(a) "Service provider" means any nongovernmental entity, either for-profit
or not-for-profit, that enters into a contract with a State agency under which
the entity is paid or reimbursed by the State for providing human services to
persons in Illinois.

(b) "State agency" means the Department of Healthcare and Family Services (formerly Department of Public Aid), the Department of
Public Health, the Department of Children and Family Services, the Department
of Human Services, and any
other department or
agency of State government that enters into contracts with service
providers under which the provider is paid or reimbursed by the State for
providing human services to persons in Illinois.

(c) "Covered bond issue" means revenue bonds (i) that are issued by any
agency of State or local government within this State, including without
limitation bonds issued by the Illinois Finance
Authority, (ii)
that are to be directly or indirectly paid, in whole or in part, from payments
due to a service provider under a human services contract with a State agency,
and (iii) for which a debt service reserve or other reserve fund has been
established, under the control of a named trustee, that the service provider is
required to replenish in the event that moneys from the reserve fund are used
to make payments of principal or interest on the bonds.

(Source: P.A. 95-331, eff. 8-21-07.)

30 ILCS 435/15

(30 ILCS 435/15)

Sec. 15.

Provider contracts.

A State agency may include a provision
authorizing payment to a bond trustee in accordance with Section 20 in any
new or  renewed contract with a service provider under which the provider is
paid or reimbursed by the State for providing human services to persons
in Illinois.  At the request of a service provider, a State agency may agree to
amend an existing human services contract to authorize payment to a bond
trustee
in accordance with Section 20.

(Source: P.A. 88-117.)

30 ILCS 435/20

(30 ILCS 435/20)

Sec. 20.

Payment to bond trustee.

(a) If authorized in the contract between a State agency and a service
provider, whenever the service provider is required to replenish the reserve
fund established under a covered bond issue, the trustee of the reserve fund
shall certify to the affected State agency the amount required to meet the
service provider's obligation.  The certification must specifically identify:

(1) the covered bond issue involved;

(2) the name, address, and source of authority of the

trustee;

(3) the name and address of the service provider;

(4) the contract between the service provider and the

State agency; and

(5) the amount that the service provider is required

to pay into the reserve fund.

The certification must also include provisions requiring a refund to the
State agency, or to the service provider if so directed by the State agency,
of any surplus amount received by the bond trustee from the State agency.

(b) Beginning with the next contract payment date occurring at least 15 days
after a certification that complies with subsection (a) has been received by a
State agency, the State agency shall direct the payment of any money that is
due and payable to
the service provider under the contract for principal and interest, up to
the amount specified in the
certification, directly to the bond trustee to replenish the reserve
fund.  The State agency shall authorize payment, and the State Comptroller
shall
make the payment to the bond trustee, or if necessary to the provider in care
of the trustee.
Any amount due the service provider in excess of the amount certified shall be
payable directly to the service provider.  This Act does not require the State
to alter its payment schedule.

(Source: P.A. 88-117.)

30 ILCS 435/25

(30 ILCS 435/25)

Sec. 25. Report.

By November 1 of each year, every State agency shall
report to the
Governor's Office of Management and Budget and the Auditor General any direct payment
to a bond paying agent made by the agency under this Act during the previous
fiscal year.

(Source: P.A. 94-793, eff. 5-19-06.)

30 ILCS 435/99

(30 ILCS 435/99)

Sec. 99.

This Act takes effect upon becoming law.

(Source: P.A. 88-117.)