Illinois General Assembly - Bill Status for HB2702
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 Bill Status of HB2702  99th General Assembly

Short Description:  IFA-AG GUARANTEE-RAISE LIMIT

House Sponsors
Rep. C.D. Davidsmeyer

Last Action
DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 3501/830-20
20 ILCS 3501/830-30
20 ILCS 3501/830-35
20 ILCS 3501/830-45


Synopsis As Introduced
Amends the Illinois Finance Authority Act. In Sections concerning State guarantees for loans to farmers, provides that the total amount of the guarantees shall not exceed $2,000,000 per farmer (instead of $500,000). Provides that guarantees may be made if the farmer's net worth does not exceed $2,000,000 (instead of $500,000). In a Section concerning guarantees for existing debt, provides that the Illinois Agricultural Loan Guarantee Fund shall guarantee receipt of payment of 90% (instead of 85%) of the principal and interest owed on the State Guarantee Loan by the farmer to the guarantee holder. Effective immediately.

Actions 
DateChamber Action
  2/19/2015HouseFiled with the Clerk by Rep. C.D. Davidsmeyer
  2/20/2015HouseFirst Reading
  2/20/2015HouseReferred to Rules Committee
  3/2/2015HouseAssigned to Executive Committee
  3/27/2015HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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