Synopsis As Introduced Creates the Economic Recovery Act. Creates the Illinois Economic Recovery Program. Provides for the appointment and terms of the members of the Board of Directors of the Program. Sets forth the powers and duties of the Program. Requires the Program to file a certified annual report with the Auditor General and an annual report with the Governor, the General Assembly, and the Economic and Fiscal Commission. Establishes the Portfolio Risk Insurance Reserve Fund as a special fund created outside of the State treasury. Sets forth procedures for the management of the Fund. Provides that the Program may enter into agreements with lenders. Creates the Illinois Economic Recovery Fund as a fund within the State treasury.
Fiscal Note (Department of Central Management Services)
The Department of Central Management Services anticipates no fiscal impact from this bill.