92nd General Assembly
Summary of SB1264
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Senate Sponsors:

House Sponsors:

Short description: 
ILL LARGE BUSINESS ASSIST ACT                                              

Synopsis of Bill as introduced:
        Amends the State Finance Act.  Makes  a  technical  change  in  a      
   Section concerning the short title.                                         
        SENATE AMENDMENT NO. 1.                                                
          Deletes reference to:                                                
          30 ILCS 105/1.1                                                      
          Adds reference to:                                                   
          30 ILCS 775/15                                                       
        Deletes everything.  Amends the Excellence in  Academic  Medicine      
   Act.   Provides that the definition of "Qualified Non-Chicago Medicare      
   Metropolitan  Statistical  Area  academic  medical  center   hospital"      
   includes  the primary teaching hospital for the University of Illinois      
   School of Medicine at Urbana.                                               
        HOUSE AMENDMENT NO. 1.                                                 
          Deletes reference to:                                                
          30 ILCS 775/15                                                       
          Adds reference to:                                                   
          New Act                                                              
          30 ILCS 105/6z-47                                                    
        Deletes  everything.   Creates  the   Illinois   Large   Business      
   Operational   Assistance   Act  and  amends  the  State  Finance  Act.      
   Authorizes the Department of Commerce and Community  Affairs  to  make      
   interest-free,  short  term  loans to Illinois businesses to meet cash      
   short falls that would otherwise result in  the  business  downsizing,      
   closing,   or   filing   for   bankruptcy.    Authorizes  the  use  of      
   appropriations from the Fund for  Illinois'  Future  for  such  loans,      
   including  moneys  already  appropriated  to  the Department for other      
   purposes.  Effective immediately.                                           
        HOUSE AMENDMENT NO. 2.                                                 
        Requires that loan applications  be  submitted  within  one  year      
   after the Act's effective date.                                             
Last action on Bill: TOTAL VETO STANDS

   Last action date: MAR-13-2002

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   2     SENATE -   1


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