Senate Sponsors: NOLAND-WALSH,L-SIEBEN. House Sponsors: MITCHELL,BILL Short description: FARM DEV-LOAN PROGRAMS Synopsis of Bill as introduced: Amends the Illinois Farm Development Act. Creates the Interest Buy-Back Fund outside the State treasury to receive appropriations unexpended by the Farm Development Authority for the subsidizing of interest costs on farmers' loans. Authorizes the Authority to use the Fund for that same purpose. Requires the Authority to develop and administer a program of loans to Illinois entities for establishment and operation of facilities in Illinois that process, package, or otherwise enhance the value of Illinois farm products and by-products. Requires that a loan recipient provide a minimum percentage of matching funds. Specifies various limits on the amount of each loan and provides certain loan conditions. Establishes a special fund outside the State treasury for the funding of loans and the receipt of loan repayments. Permits the Authority to borrow from other of its funds while awaiting appropriations. Effective immediately. SENATE AMENDMENT NO. 1. Deletes reference to: 20 ILCS 3605/12.1 20 ILCS 3605/12.2 20 ILCS 3605/12.6 new Deletes everything. Amends the Illinois Farm Development Act. Makes a technical change in the buy-back program provision. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status