GRANBERG-LANG-SMITH,MICHAEL-DART-HAMOS, NOVAK, BOLAND,
WOOLARD AND WINTERS.
Synopsis of Bill as introduced:
Creates the Land Banking Beneficial Disclosure Act. Provides that
no agreement or understanding of any kind may be made or entered into
by any department or agency of the State of Illinois with a trustee or
beneficiary of a land trust, when the land is intended for use as a
correctional facility or for airport purposes, until the beneficial
interests in the property or land trust have been fully disclosed in a
written statement to the department or agency. Requires the
disclosure statement to identify each beneficiary and define his or
her interest. Requires the trustee to file the disclosure statement
with the recorder of deeds. Effective immediately.
FISCAL NOTE (Dept. of Agriculture)
HB63 will have no direct fiscal impact on the Department.
HOUSE AMENDMENT NO. 1.
Adds reference to:
30 ILCS 105/5.490 new
30 ILCS 105/8.36 new
620 ILCS 5/34b new
Amends the Illinois Aeronautics Act to allow the Department of
Transportation to make loans from the Airport Land Loan Revolving Fund
to certain public airport owners for the purchase of real estate
needed for essential airport purposes. Provides that repayment of the
loans shall be deposited into the Fund. Specifies certain contractual
terms of the loan and default penalties and procedures for the loan.
Amends the State Finance Act to create the Airport Land Loan Revolving
HOUSE AMENDMENT NO. 2.
Further amends the Illinois Aeronautics Act to provide that the
Department of Transportation may make loans to public airport owners,
outside of the counties of Lake, Cook, Will, Kane, and DuPage (instead
of outside the area of operation of the Northeastern Illinois
Metropolitan Area Planning Commission).
HOUSE AMENDMENT NO. 3.
Deletes the substance of House Amendment No. 1. Amends the
Illinois Aeronautics Act to provide that loans to public airport
authorities for the purchase of land (within a one-half mile radius of
an existing airport) from the Airport Land Loan Revolving Fund shall
only be made to units of local governments or public airport
authorities that currently operate an airport and are in existence on
January 1, 1999. Provides that the Department of Transportation may
make loans to units of local government or public airport authorities
that are in existence as of January 1, 1999 (instead of those that
are in existence as of the effective date of this amendatory Act and
that operate outside the area of operation of the Northeastern Illin-
ois Metropolitan Area Planning Commission). Effective immediately.
HOUSE AMENDMENT NO. 6.
Deletes reference to:
Deletes everything and reinserts the bill as amended by House
Amendments No. 1 and No. 2 and removes all of the provisions created
by the Land Banking Beneficial Disclosure Act. Effective immediately.
SENATE AMENDMENT NO. 1.
Removes the condition that the loans be made only to public
airport owners outside of the counties of Lake, Cook, Will, Kane, and
DuPage. Provides that loans may be made only to public airport owners
that are operating an airport as of January 1, 1999. Provides that
loans may not be made for airports that provide scheduled commercial
air service in counties of greater than 5,000,000 population. Allows
the Department of Transportation to promulgate rules to implement the
loan program. Makes other changes.
Last action on Bill: PUBLIC ACT.............................. 91-0543
Last action date: 99-08-14
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 4 SENATE - 1
END OF INQUIRY
Full Text Bill Status