SMITH,MICHAEL-BLACK-REITZ-FOWLER-O'BRIEN, WAIT, MOFFITT,
NOVAK, BOST, MYERS,RICHARD, MITCHELL,BILL, LAWFER,
JONES,JOHN, WINTERS, MITCHELL,JERRY, RIGHTER AND BOLAND.
FARM DEVELOP AUTHY-INCR BONDS
Synopsis of Bill as introduced:
Amends the Illinois Farm Development Act. Increases to
$350,000,000 (now, $300,000,000) the aggregate principal amount of
bonds that the Illinois Farm Development Authority may issue.
FISCAL NOTE (Farm Development Authority)
In its orginal form, this bill will have no fiscal impact; but,
if amended to expand the guarantee umbrella for loans, the
fiscal impact to the State in the short run will be zero and
over time would be estimated at less than 3% of the total of
SENATE AMENDMENT NO. 1.
Further amends the Illinois Farm Development Act. Deletes the
increase in the aggregate principal amount of bonds that the Illinois
Farm Development Authority may issue. Increases to $75,000,000 (now,
$50,000,000) the aggregate principal amount of State Guarantees for
the purposes of loans to farmers and agribusiness, the Young Farmer
Loan Guarantee Program, and the Specialized Livestock Guarantee
Program that the Authority may have outstanding at any one time.
Last action on Bill: PUBLIC ACT.............................. 91-0611
Last action date: 99-08-19
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1
END OF INQUIRY
Full Text Bill Status