STATE LOAN ACT House SponsorsRep. Lou Lang and Jack D. Franks-Mike Boland Senate Sponsors(Sen. Patrick Welch) 1/11/2005HouseSession Sine Die New Act30 ILCS 205/2from Ch. 15, par. 10230 ILCS 210/4from Ch. 15, par. 154 Creates the State Loan Act and amends the Uncollected State Claims Act and the Illinois State Collections Act of 1986. Provides that before any State loan may be made or renewed to any person the name of the person must be made public. Provides that the person must personally guarantee repayment of the loan. Prohibits certain contracts with a person who is in default on any State loan. Provides that all contributions made by the person in the past 5 years must be disclosed. Provides that the Attorney General shall investigate any default on a State loan. Provides that the provisions of the Uncollected State Claims Act and the Illinois State Collection Act of 1986 must be met before any renegotiation or forgiveness of a State loan. Provides that the Attorney General shall report to the General Assembly certain information regarding State loans. Effective immediately.House Amendment No. 1 Deletes everything. Reinserts the original provisions of the bill with the following changes: (i) exempts from the definition of "State loan" any participation loan or financial transaction through statutorily-authorized financial intermediaries in support of small business loans and investments; (ii) requires any State agency making, renegotiating, or renewing a State loan to maintain a publicly-available record of the names and addresses of each person receiving, renegotiating, or renewing the loan; (iii) requires each person receiving a State loan to certify that he or she is not delinquent in the payment of any debt to the State, and requires the loan contract to provide that the contract may be declared void if the certification is false or the borrower later becomes delinquent in the payment of any debt to the State; (iv) provides that no State agency may enter into a loan agreement with a person who has made a contribution exceeding $20 within a 2-year period (instead of any undisclosed contribution within 5 years); and (v) provides that any renegotiation of a State loan for an amount less than the total amount due and owing requires the approval of the Attorney General. Effective immediately.Fiscal Note (Office of the Attorney General) Fiscal impact: The estimated annual cost would be $176,000. This would include salary and benefits for (2) new full-time attorneys and (1) support staff, plus their related operating costs.House Amendment No. 3 Deletes provisions requiring the disclosure of certain political contributions by the borrower.House Amendment No. 4 Provides that a "State loan" means a loan of, or a combination of loans totaling, $50,000 or more (instead of "means a loan of $50,000 or more") made by the State or by a State agency. 12/17/2002HousePrefiled with Clerk by Rep. Lou Lang 1/8/2003HouseFirst Reading 1/8/2003HouseReferred to Rules Committee 1/23/2003HouseAssigned to State Government Administration Committee 3/13/2003HouseHouse Amendment No. 1 Filed with Clerk by State Government Administration Committee 3/13/2003HouseHouse Amendment No. 1 Adopted in State Government Administration Committee; by Voice Vote 3/13/2003HouseDo Pass as Amended / Short Debate State Government Administration Committee; 010-000-000 3/13/2003HousePlaced on Calendar 2nd Reading - Short Debate 3/13/2003HouseAdded Co-Sponsor Rep. Jack D. Franks 3/18/2003HouseHouse Amendment No. 2 Filed with Clerk by Rep. Lou Lang 3/18/2003HouseHouse Amendment No. 2 Referred to Rules Committee 3/20/2003HouseFiscal Note Filed 3/20/2003HouseHouse Amendment No. 3 Filed with Clerk by Rep. Lou Lang 3/20/2003HouseHouse Amendment No. 3 Referred to Rules Committee 3/25/2003HouseHouse Amendment No. 4 Filed with Clerk by Rep. Lou Lang 3/25/2003HouseHouse Amendment No. 4 Referred to Rules Committee 3/28/2003HouseHouse Amendment No. 3 Recommends Be Adopted Rules Committee; 005-000-000 3/28/2003HouseSecond Reading - Short Debate 3/28/2003HouseHouse Amendment No. 3 Adopted by Voice Vote 3/28/2003HouseHouse Amendment No. 4 Adopted by Voice Vote 3/28/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/1/2003HouseHouse Amendment No. 2 Tabled Pursuant to Rule 40(a) 4/1/2003HouseAdded Chief Co-Sponsor Rep. Mike Boland 4/1/2003HouseThird Reading - Short Debate - Passed 116-000-000 4/2/2003SenateArrive in Senate 4/2/2003SenatePlaced on Calendar Order of First Reading April 3, 2003 4/9/2003SenateChief Senate Sponsor Sen. Patrick Welch 4/10/2003SenateFirst Reading 4/10/2003SenateReferred to Rules 1/11/2005HouseSession Sine Die