House Sponsors: SMITH,MICHAEL-LINDNER-POE, O'BRIEN, BLACK, REITZ, CURRY,JULIE AND BOST. Senate Sponsors: NOLAND-BOWLES-SIEBEN-WALSH,L-BOMKE Short description: 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 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status