Illinois Compiled Statutes
ILCS Listing
Public
Acts Search
Guide
Disclaimer
Information maintained by the Legislative
Reference Bureau
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as Public
Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Guide.
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
20 ILCS 3510/2
(20 ILCS 3510/2) (from Ch. 111 1/2, par. 8102)
Sec. 2.
Definitions.
The following words and terms,
whether or not capitalized, have the following meanings, unless the context
or use clearly requires otherwise:
"Asbestos" means asbestos as defined and used in the federal Asbestos
Hazard Emergency Response Act of 1986, as now or hereafter amended,
including the regulations promulgated under that Act.
"Asbestos Abatement Project" means asbestos inspection, planning and
response action under and within the meaning of the federal Asbestos Hazard
Emergency Response Act of 1986, as now or hereafter amended, to abate a
health hazard caused directly or indirectly by the existence of asbestos in
any building or other facility owned, operated, maintained or occupied in
whole or in part by a public corporation or a private institution.
"Authority" means the Illinois Finance Authority.
"Board" means the Board of the Authority.
"Bond" means any bond, note or other evidence of indebtedness issued by
the Authority under this Act.
"Chairman" means the Chairman of the Authority.
"Cost" as applied to an asbestos abatement project means the costs
incurred or to be incurred by a public corporation or a private institution
in the removal, encapsulation, enclosure, repair, or maintenance of
asbestos in any building or other facility owned, operated, maintained or
occupied in whole or in part by a public corporation or a private
institution, including all incidental costs such as engineering,
architectural, consulting and legal expenses incurred in connection with an
asbestos abatement project, plans, specifications, surveys, estimates
of costs and revenues, finance charges, interest before and during construction
of an asbestos abatement project and, for up to 18 months after completion
of construction, other expenses necessary or incident to determining the
need, feasibility or practicability of an asbestos abatement project,
administrative expenses, and such other costs, charges and expenses as may
be necessary or incident to the construction or financing of any asbestos
abatement project. As used in this Act, "cost" means not only costs of an
asbestos abatement project expected to be incurred in the future, but costs
already incurred and paid by a public corporation or a private institution
so that a public corporation or a private institution shall be permitted to
reimburse itself for those costs previously incurred and paid.
"Person" means any individual, firm, partnership, association, or
corporation, separately or in any combination.
"Private institution" means any not-for-profit organization within the
meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as now
or hereafter amended, including any private or nonpublic pre-school, day
care center, day or residential educational institution that provides
elementary or secondary education for grades 12 or under, any private or
nonpublic college or university, or any hospital, health care or long term
care institution.
"Private institution security" means any bond, note, loan agreement, or
other evidence of indebtedness which a private institution is legally
authorized to issue or enter into for the purpose of financing or
refinancing the costs of an asbestos abatement project.
"Public corporation" means any body corporate organized by or under
the laws of this State to carry out a public governmental or proprietary
function, including the State, any State agency, any school district, park
district, city, village, incorporated town, county, township, drainage or
any other type of district, board, commission, authority, university,
public community college or any combination (including any combination
under Section 10 of Article VII of the Illinois Constitution or under the
Intergovernmental Cooperation Act of 1973, as now or hereafter amended),
acting through their corporate authorities, and any other unit of local
government within the meaning of Section 1 of Article VII of the Illinois
Constitution.
"Public corporation security" means any bond, note, loan agreement, or
other evidence of indebtedness which a public corporation is legally
authorized to issue or enter into for the purpose of financing or
refinancing the costs of an asbestos abatement project.
"Secretary" means the Secretary of the Authority.
"State" means the State of Illinois.
"Treasurer" means the Treasurer of the Authority.
(Source: P.A. 93-205, eff. 1-1-04.)
|
|
