SMITH,MICHAEL-LINDNER-POE, O'BRIEN, BLACK, REITZ,
CURRY,JULIE AND BOST.
FARM DEVELOP-VALUE-ADDED GURNT
Synopsis of Bill as introduced:
Amends the Illinois Farm Development Act. Creates the
Enhanced Value-Added Agriculture Production Guarantee Program.
Provides for State Guarantees for loans to finance or refinance debts
for specialized agribusinesses that engage in the process of adding
value to agricultural products. Sets the requirements for using the
program. Requires the Illinois Farm Development Authority to provide
or renew State Guarantees if certain conditions are met. Provides
that the Illinois Farmer and Agribusiness Loan Guarantee Fund may be
used to secure the State Guarantees. Effective immediately.
FISCAL NOTE (Farm Development Authority)
There will be no fiscal impact, but there may be some fiscal
impact with regard to an appropriation of a Loss Reserve Fund.
Last action on Bill: SESSION SINE DIE
Last action date: 01-01-09
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status