Sen. James F. Clayborne Jr.
Filed: 4/16/2007
 
 

 




 

 		












09500HB0277sam001

LRB095 04509 CMK 34786 a






1

AMENDMENT TO HOUSE BILL 277 




2
    AMENDMENT NO. ______. Amend House Bill 277 by replacing 
3
everything after the enacting clause with the following:

 
4
    "Section 5. The Environmental Protection Act is amended  by 
5
adding Section 57.8a as follows:
 
6
    (415 ILCS 5/57.8a  new)
7
    Sec. 57.8a. Assignment of payments from the Underground 
8
Storage Tank Fund.
9
    (a) If the Agency has formed a priority list for payment 
10
under Section 57.8(a)(3) of this Act, an owner or operator on 
11
the priority list may assign the full approved payment amount 
12
on the list for which the owner or operator is awaiting payment 
13
to any third party for any purpose including, without 
14
limitation, repaying a bond, loan, or other form of financing 
15
secured by or payable from the approved payment. Each 
16
assignment must be made on an approved payment by approved 
 


 






09500HB0277sam001
- 2 -
LRB095 04509 CMK 34786 a




1
payment basis and must be made by completing the forms and 
2
procedures prescribed by the Agency. No assignment under this 
3
Section prevents or affects the right of the State Comptroller 
4
to make the deductions and off-sets provided in Section 10.05 
5
of the State Comptroller Act.
6
    (b) An assignee has no right of appeal relating to the 
7
assigned payment.
8
    (c) An owner's or operator's assignment under this Section 
9
is irrevocable. The State shall pay the full assigned amount to 
10
the assignee, subject to right of the State Comptroller to make 
11
the deductions and off-sets provided in Section 10.05 of the 
12
State Comptroller Act.
13
    (d) The State and its officers and employees are discharged 
14
of all liability upon payment of the assigned amount to the 
15
assignee. The assignor and assignee shall hold harmless and 
16
indemnify the State and its officers and employees from all 
17
claims, actions, suits, complaints, and liabilities related to 
18
the assignment.
19
    (e) An assignee of an approved payment from the priority 
20
list shall be entitled to receive the full approved payment 
21
amount set forth on the priority list for the owner or operator 
22
making such assignment, subject to the right of the State 
23
Comptroller to make the deductions and off-sets provided in 
24
Section 10.05 of the State Comptroller Act. The assignee may 
25
use any payment received as a result of the assignment for any 
26
purpose including, without limitation, paying principal, 
 


 






09500HB0277sam001
- 3 -
LRB095 04509 CMK 34786 a




1
interest, or other costs due on a bond, loan, or other form of 
2
financing for which the payment was assigned.  The approved 
3
payment amount set forth on the priority list shall not be 
4
increased as a result of the assignment.

 
5
    Section 99. Effective date. This Act takes effect upon 
6
becoming law.".