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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 HB1677
Introduced 2/22/2007, by Rep. Carolyn H. Krause SYNOPSIS AS INTRODUCED: |
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20 ILCS 3501/801-10 |
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20 ILCS 3501/825-12 new |
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Amends the Illinois Finance Authority Act. In a Section concerning definitions, includes a conservation project within the definition of "project" and defines "conservation project". Authorizes the Illinois Finance Authority to develop a program to provide low-interest loans and other financing to individuals, business entities, private organizations, and units of local government for conservation projects in the State of Illinois. Sets forth requirements for the program. Effective immediately.
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A BILL FOR
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HB1677 |
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LRB095 09322 BDD 29516 b |
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| AN ACT concerning State government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Finance Authority Act is amended by |
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| changing Section 801-10 and by adding Section 825-12 as |
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| follows:
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| (20 ILCS 3501/801-10)
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| Sec. 801-10. Definitions. The following terms, whenever |
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| used or referred
to
in this Act, shall have the following |
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| meanings, except in such instances where
the context may |
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| clearly indicate otherwise:
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| (a) The term "Authority" means the Illinois Finance |
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| Authority created by
this Act.
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| (b) The term "project" means an industrial project, |
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| conservation project, housing project, public
purpose project, |
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| higher education project, health facility project, cultural
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| institution project, agricultural facility or agribusiness, |
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| and "project" may
include any combination of one or more of the |
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| foregoing undertaken jointly by
any person with one or more |
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| other persons.
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| (c) The term "public purpose project" means any project or |
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| facility
including
without limitation land, buildings, |
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| structures, machinery, equipment and all
other real and |
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LRB095 09322 BDD 29516 b |
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| personal property, which is authorized or required by law to be
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| acquired, constructed, improved, rehabilitated, reconstructed, |
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| replaced or
maintained by any unit of government or any other |
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| lawful public purpose which
is authorized or required by law to |
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| be undertaken by any unit of government.
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| (d) The term "industrial project" means the acquisition, |
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| construction,
refurbishment, creation, development or |
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| redevelopment of any facility,
equipment, machinery, real |
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| property or personal property for use by any
instrumentality of |
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| the State or its political subdivisions, for use by any
person |
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| or institution, public or private, for profit or not for |
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| profit, or for
use in any trade or business including, but not |
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| limited to, any industrial,
manufacturing or commercial |
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| enterprise and which is (1) a capital project
including but not |
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| limited to: (i) land and any rights therein, one or more
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| buildings, structures or other improvements, machinery and |
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| equipment, whether
now existing or hereafter acquired, and |
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| whether or not located on the same site
or sites; (ii) all |
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| appurtenances and facilities incidental to the foregoing,
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| including, but not limited to utilities, access roads, railroad |
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| sidings, track,
docking and similar facilities, parking |
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| facilities, dockage, wharfage, railroad
roadbed, track, |
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| trestle, depot, terminal, switching and signaling or related
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| equipment, site preparation and landscaping; and (iii) all |
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| non-capital costs
and expenses relating thereto or (2) any |
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| addition to, renovation,
rehabilitation or
improvement of a |
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LRB095 09322 BDD 29516 b |
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| capital project or (3) any activity or undertaking which the
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| Authority determines will aid, assist or encourage economic |
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| growth, development
or redevelopment within the State or any |
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| area thereof, will promote the
expansion, retention or |
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| diversification of employment opportunities within the
State |
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| or any area thereof or will aid in stabilizing or developing |
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| any industry
or economic sector of the State economy. The term |
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| "industrial project" also
means the production of motion |
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| pictures.
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| (e) The term "bond" or "bonds" shall include bonds, notes |
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| (including bond,
grant or revenue anticipation notes), |
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| certificates and/or other evidences of
indebtedness |
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| representing an obligation to pay money, including refunding
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| bonds.
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| (f) The terms "lease agreement" and "loan agreement" shall |
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| mean: (i) an
agreement whereby a project acquired by the |
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| Authority by purchase, gift or
lease
is leased to any person, |
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| corporation or unit of local government which will use
or cause |
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| the project to be used as a project as heretofore defined upon |
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| terms
providing for lease rental payments at least sufficient |
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| to pay when due all
principal of, interest and premium, if any, |
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| on any bonds of the Authority
issued
with respect to such |
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| project, providing for the maintenance, insuring and
operation |
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| of the project on terms satisfactory to the Authority, |
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| providing for
disposition of the project upon termination of |
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| the lease term, including
purchase options or abandonment of |
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| the premises, and such other terms as may be
deemed desirable |
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| by the Authority, or (ii) any agreement pursuant to which the
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| Authority agrees to loan the proceeds of its bonds issued with |
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| respect to a
project or other funds of the Authority to any |
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| person which will use or cause
the project to be used as a |
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| project as heretofore defined upon terms providing
for loan |
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| repayment installments at least sufficient to pay when due all
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| principal of, interest and premium, if any, on any bonds of the |
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| Authority, if
any, issued with respect to the project, and |
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| providing for maintenance,
insurance and other matters as may |
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| be deemed desirable by the Authority.
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| (g) The term "financial aid" means the expenditure of |
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| Authority funds or
funds provided by the Authority through the |
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| issuance of its bonds, notes or
other
evidences of indebtedness |
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| or from other sources for the development,
construction, |
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| acquisition or improvement of a project.
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| (h) The term "person" means an individual, corporation, |
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| unit of government,
business trust, estate, trust, partnership |
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| or association, 2 or more persons
having a joint or common |
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| interest, or any other legal entity.
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| (i) The term "unit of government" means the federal |
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| government, the State or
unit of local government, a school |
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| district, or any agency or instrumentality,
office, officer, |
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| department, division, bureau, commission, college or
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| university thereof.
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| (j) The term "health facility" means: (a) any public or |
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| private institution,
place, building, or agency required to be |
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| licensed under the Hospital Licensing
Act; (b) any public or |
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| private institution, place, building, or agency required
to be |
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| licensed under the Nursing Home Care Act; (c)
any public or |
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| licensed private hospital as defined in the Mental Health and
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| Developmental Disabilities Code; (d) any such facility |
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| exempted from such
licensure when the Director of Public Health |
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| attests that such exempted
facility
meets the statutory |
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| definition of a facility subject to licensure; (e) any
other
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| public or private health service institution, place, building, |
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| or agency which
the Director of Public Health attests is |
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| subject to certification by the
Secretary, U.S. Department of |
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| Health and Human Services under the Social
Security Act, as now |
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| or hereafter amended, or which the Director of Public
Health |
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| attests is subject to standard-setting by a recognized public |
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| or
voluntary accrediting or standard-setting agency; (f) any |
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| public or private
institution, place, building or agency |
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| engaged in providing one or more
supporting services to a |
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| health facility; (g) any public or private
institution,
place, |
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| building or agency engaged in providing training in the healing |
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| arts,
including but not limited to schools of medicine, |
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| dentistry, osteopathy,
optometry, podiatry, pharmacy or |
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| nursing, schools for the training of x-ray,
laboratory or other |
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| health care technicians and schools for the training of
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| para-professionals in the health care field; (h) any public or |
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| private
congregate, life or extended care or elderly housing |
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LRB095 09322 BDD 29516 b |
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| facility or any public or
private home for the aged or infirm, |
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| including, without limitation, any
Facility as defined in the |
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| Life Care Facilities Act; (i) any public or private
mental, |
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| emotional or physical rehabilitation facility or any public or |
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| private
educational, counseling, or rehabilitation facility or |
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| home, for those persons
with a developmental disability, those |
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| who are physically ill or disabled, the
emotionally disturbed, |
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| those persons with a mental illness or persons with
learning or |
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| similar disabilities or problems; (j) any public or private
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| alcohol, drug or substance abuse diagnosis, counseling |
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| treatment or
rehabilitation
facility, (k) any public or private |
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| institution, place, building or agency
licensed by the |
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| Department of Children and Family Services or which is not so
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| licensed but which the Director of Children and Family Services |
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| attests
provides child care, child welfare or other services of |
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| the type provided by
facilities
subject to such licensure; (l) |
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| any public or private adoption agency or
facility; and (m) any |
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| public or private blood bank or blood center. "Health
facility" |
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| also means a public or private structure or structures suitable
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| primarily for use as a laboratory, laundry, nurses or interns |
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| residence or
other housing or hotel facility used in whole or |
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| in part for staff, employees
or
students and their families, |
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| patients or relatives of patients admitted for
treatment or |
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| care in a health facility, or persons conducting business with |
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| a
health facility, physician's facility, surgicenter, |
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| administration building,
research facility, maintenance, |
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LRB095 09322 BDD 29516 b |
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| storage or utility facility and all structures
or facilities |
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| related to any of the foregoing or required or useful for the
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| operation of a health facility, including parking or other |
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| facilities or other
supporting service structures required or |
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| useful for the orderly conduct of
such health facility.
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| (k) The term "participating health institution" means a |
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| private corporation
or association or public entity of this |
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| State, authorized by the laws of this
State to provide or |
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| operate a health facility as defined in this Act and which,
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| pursuant to the provisions of this Act, undertakes the |
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| financing, construction
or acquisition of a project or |
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| undertakes the refunding or refinancing of
obligations, loans, |
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| indebtedness or advances as provided in this Act.
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| (l) The term "health facility project", means a specific |
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| health facility
work
or improvement to be financed or |
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| refinanced (including without limitation
through reimbursement |
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| of prior expenditures), acquired, constructed, enlarged,
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| remodeled, renovated, improved, furnished, or equipped, with |
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| funds provided in
whole or in part hereunder, any accounts |
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| receivable, working capital, liability
or insurance cost or |
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| operating expense financing or refinancing program of a
health |
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| facility with or involving funds provided in whole or in part |
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| hereunder,
or any combination thereof.
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| (m) The term "bond resolution" means the resolution or |
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| resolutions
authorizing the issuance of, or providing terms and |
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| conditions related to,
bonds issued
under this Act and |
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LRB095 09322 BDD 29516 b |
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| includes, where appropriate, any trust agreement, trust
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| indenture, indenture of mortgage or deed of trust providing |
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| terms and
conditions for such bonds.
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| (n) The term "property" means any real, personal or mixed |
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| property, whether
tangible or intangible, or any interest |
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| therein, including, without limitation,
any real estate, |
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| leasehold interests, appurtenances, buildings, easements,
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| equipment, furnishings, furniture, improvements, machinery, |
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| rights of way,
structures, accounts, contract rights or any |
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| interest therein.
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| (o) The term "revenues" means, with respect to any project, |
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| the rents, fees,
charges, interest, principal repayments, |
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| collections and other income or profit
derived therefrom.
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| (p) The term "higher education project" means, in the case |
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| of a private
institution of higher education, an educational |
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| facility to be acquired,
constructed, enlarged, remodeled, |
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| renovated, improved, furnished, or equipped,
or any |
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| combination thereof.
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| (q) The term "cultural institution project" means, in the |
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| case of a cultural
institution, a cultural facility to be |
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| acquired, constructed, enlarged,
remodeled, renovated, |
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| improved, furnished, or equipped, or any combination
thereof.
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| (r) The term "educational facility" means any property |
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| located within the
State
constructed or acquired before or |
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| after the effective date of this Act, which
is
or will be, in |
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| whole or in part, suitable for the instruction, feeding,
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| recreation or housing of students, the conducting of research |
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| or other work of
a
private institution of higher education, the |
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| use by a private institution of
higher education in connection |
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| with any educational, research or related or
incidental |
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| activities then being or to be conducted by it, or any |
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| combination
of the foregoing, including, without limitation, |
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| any such property suitable for
use as or in connection with any |
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| one or more of the following: an academic
facility, |
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| administrative facility, agricultural facility, assembly hall,
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| athletic facility, auditorium, boating facility, campus, |
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| communication
facility,
computer facility, continuing |
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| education facility, classroom, dining hall,
dormitory, |
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| exhibition hall, fire fighting facility, fire prevention |
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| facility,
food service and preparation facility, gymnasium, |
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| greenhouse, health care
facility, hospital, housing, |
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| instructional facility, laboratory, library,
maintenance |
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| facility, medical facility, museum, offices, parking area,
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| physical education facility, recreational facility, research |
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| facility, stadium,
storage facility, student union, study |
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| facility, theatre or utility.
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| (s) The term "cultural facility" means any property located |
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| within the State
constructed or acquired before or after the |
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| effective date of this Act, which
is or will be, in whole or in |
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| part, suitable for the particular purposes or
needs
of a |
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| cultural institution, including, without limitation, any such |
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| property
suitable for use as or in connection with any one or |
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| more of the following: an
administrative facility, aquarium, |
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| assembly hall, auditorium, botanical garden,
exhibition hall, |
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| gallery, greenhouse, library, museum, scientific laboratory,
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| theater or zoological facility, and shall also include, without |
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| limitation,
books, works of art or music, animal, plant or |
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| aquatic life or other items for
display, exhibition or |
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| performance. The term "cultural facility" includes
buildings |
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| on the National Register of Historic Places which are owned or
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| operated by nonprofit entities.
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| (t) "Private institution of higher education" means a |
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| not-for-profit
educational institution which is not owned by |
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| the State or any political
subdivision, agency, |
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| instrumentality, district or municipality thereof, which
is
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| authorized by law to provide a program of education beyond the |
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| high school
level
and which:
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| (1) Admits as regular students only individuals having |
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| a
certificate of graduation from a high school, or the |
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| recognized equivalent of
such a certificate;
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| (2) Provides an educational program for which it awards |
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| a
bachelor's degree, or provides an educational program, |
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| admission into which is
conditioned upon the prior |
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| attainment of a bachelor's degree or its equivalent,
for |
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| which it awards a postgraduate degree, or provides not less |
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| than a 2-year
program which is acceptable for full credit |
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| toward such a degree, or offers a
2-year program in |
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| engineering, mathematics, or the physical or biological
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| sciences
which is designed to prepare the student to work |
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| as a technician and at a
semiprofessional level in |
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| engineering, scientific, or other technological
fields
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| which require the understanding and application of basic |
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| engineering,
scientific, or mathematical principles or |
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| knowledge;
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| (3) Is accredited by a nationally recognized |
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| accrediting agency or
association or, if not so accredited, |
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| is an institution whose credits are
accepted, on transfer, |
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| by not less than 3 institutions which are so accredited,
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| for credit on the same basis as if transferred from an |
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| institution so
accredited, and holds an unrevoked |
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| certificate of approval under the Private
College Act from |
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| the Board of Higher Education, or is qualified as a
"degree |
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| granting institution" under the Academic Degree Act; and
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| (4) Does not discriminate in the admission of students |
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| on the basis
of race or color.
"Private institution of |
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| higher education" also includes any "academic
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| institution".
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| (u) The term "academic institution" means any |
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| not-for-profit institution
which
is not owned by the State or |
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| any political subdivision, agency,
instrumentality,
district |
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| or municipality thereof, which institution engages in, or |
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| facilitates
academic, scientific, educational or professional |
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| research or learning in a
field or fields of study taught at a |
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| private institution of higher education.
Academic institutions |
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| include, without limitation, libraries, archives,
academic, |
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| scientific, educational or professional societies, |
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| institutions,
associations or foundations having such |
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| purposes.
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| (v) The term "cultural institution" means any |
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| not-for-profit institution
which
is not owned by the State or |
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| any political subdivision, agency,
instrumentality,
district |
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| or municipality thereof, which institution engages in the |
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| cultural,
intellectual, scientific, educational or artistic |
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| enrichment of the people of
the State. Cultural institutions |
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| include, without limitation, aquaria,
botanical societies, |
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| historical societies, libraries, museums, performing arts
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| associations or societies, scientific societies and zoological |
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| societies.
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| (w) The term "affiliate" means, with respect to financing |
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| of an agricultural
facility or an agribusiness, any lender, any |
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| person, firm or corporation
controlled by, or under common |
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| control with, such lender, and any person, firm
or corporation |
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| controlling such lender.
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| (x) The term "agricultural facility" means land, any |
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| building or other
improvement thereon or thereto, and any |
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| personal properties deemed necessary or
suitable for use, |
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| whether or not now in existence, in farming, ranching, the
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| production of agricultural commodities (including, without |
25 |
| limitation, the
products of aquaculture, hydroponics and |
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| silviculture) or the treating,
processing or storing of such |
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HB1677 |
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| agricultural commodities when such activities are
customarily |
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| engaged in by farmers as a part of farming.
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| (y) The term "lender" with respect to financing of an |
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| agricultural facility
or an agribusiness, means any federal or |
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| State chartered bank, Federal Land
Bank,
Production Credit |
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| Association, Bank for Cooperatives, federal or State
chartered |
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| savings and loan association or building and loan association, |
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| Small
Business
Investment Company or any other institution |
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| qualified within this State to
originate and service loans, |
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| including, but without limitation to, insurance
companies, |
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| credit unions and mortgage loan companies. "Lender" also means |
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| a
wholly owned subsidiary of a manufacturer, seller or |
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| distributor of goods or
services that makes loans to businesses |
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| or individuals, commonly known as a
"captive finance company".
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| (z) The term "agribusiness" means any sole proprietorship, |
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| limited
partnership, co-partnership, joint venture, |
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| corporation or cooperative which
operates or will operate a |
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| facility located within the State of Illinois that
is related |
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| to the
processing of agricultural commodities (including, |
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| without limitation, the
products of aquaculture, hydroponics |
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| and silviculture) or the manufacturing,
production or |
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| construction of agricultural buildings, structures, equipment,
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| implements, and supplies, or any other facilities or processes |
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| used in
agricultural production. Agribusiness includes but is |
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| not limited to the
following:
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| (1) grain handling and processing, including grain |
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| storage,
drying, treatment, conditioning, mailing and |
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| packaging;
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| (2) seed and feed grain development and processing;
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| (3) fruit and vegetable processing, including |
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| preparation, canning
and packaging;
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| (4) processing of livestock and livestock products, |
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| dairy products,
poultry and poultry products, fish or |
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| apiarian products, including slaughter,
shearing, |
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| collecting, preparation, canning and packaging;
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| (5) fertilizer and agricultural chemical |
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| manufacturing,
processing, application and supplying;
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| (6) farm machinery, equipment and implement |
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| manufacturing and
supplying;
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| (7) manufacturing and supplying of agricultural |
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| commodity
processing machinery and equipment, including |
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| machinery and equipment used in
slaughter, treatment, |
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| handling, collecting, preparation, canning or packaging
of |
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| agricultural commodities;
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| (8) farm building and farm structure manufacturing, |
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| construction
and supplying;
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| (9) construction, manufacturing, implementation, |
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| supplying or
servicing of irrigation, drainage and soil and |
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| water conservation devices or
equipment;
|
24 |
| (10) fuel processing and development facilities that |
25 |
| produce fuel
from agricultural commodities or byproducts;
|
26 |
| (11) facilities and equipment for processing and |
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LRB095 09322 BDD 29516 b |
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| packaging
agricultural commodities specifically for |
2 |
| export;
|
3 |
| (12) facilities and equipment for forestry product |
4 |
| processing and
supplying, including sawmilling operations, |
5 |
| wood chip operations, timber
harvesting operations, and |
6 |
| manufacturing of prefabricated buildings, paper,
furniture |
7 |
| or other goods from forestry products;
|
8 |
| (13) facilities and equipment for research and |
9 |
| development of
products, processes and equipment for the |
10 |
| production, processing, preparation
or packaging of |
11 |
| agricultural commodities and byproducts.
|
12 |
| (aa) The term "asset" with respect to financing of any |
13 |
| agricultural facility
or
any agribusiness, means, but is not |
14 |
| limited to the following: cash crops or
feed on hand; livestock |
15 |
| held for sale; breeding stock; marketable bonds and
securities; |
16 |
| securities not readily marketable; accounts receivable; notes
|
17 |
| receivable; cash invested in growing crops; net cash value of |
18 |
| life insurance;
machinery and equipment; cars and trucks; farm |
19 |
| and other real estate including
life estates and personal |
20 |
| residence; value of beneficial interests in trusts;
government |
21 |
| payments or grants; and any other assets.
|
22 |
| (bb) The term "liability" with respect to financing of any |
23 |
| agricultural
facility or any agribusiness shall include, but |
24 |
| not be limited to the
following:
accounts payable; notes or |
25 |
| other indebtedness owed to any source; taxes; rent;
amounts |
26 |
| owed on real estate contracts or real estate mortgages; |
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LRB095 09322 BDD 29516 b |
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| judgments;
accrued interest payable; and any other liability.
|
2 |
| (cc) The term "Predecessor Authorities" means those |
3 |
| authorities as described
in Section 845-75.
|
4 |
| (dd) The term "housing project" means a specific work or |
5 |
| improvement
undertaken
to provide residential dwelling |
6 |
| accommodations, including the acquisition,
construction or |
7 |
| rehabilitation of lands, buildings and community facilities |
8 |
| and
in connection therewith to provide nonhousing facilities |
9 |
| which are part of the
housing project, including land, |
10 |
| buildings, improvements, equipment and all
ancillary |
11 |
| facilities for use for offices, stores, retirement homes, |
12 |
| hotels,
financial institutions, service, health care, |
13 |
| education, recreation or research
establishments, or any other |
14 |
| commercial purpose which are or are to be related
to a housing |
15 |
| development. |
16 |
| (ee) The term "conservation project" means any project |
17 |
| including the acquisition, construction, rehabilitation, |
18 |
| maintenance, operation, or upgrade that is intended to create |
19 |
| or expand open space or to reduce energy usage through |
20 |
| efficiency measures. For the purpose of this definition, "open |
21 |
| space" has the definition set forth under Section 10 of the |
22 |
| Illinois Open Land Trust Act.
|
23 |
| (Source: P.A. 93-205, eff. 1-1-04; 93-1101, eff. 3-31-05.)
|
24 |
| (20 ILCS 3501/825-12 new)
|
25 |
| Sec. 825-12. Conservation projects. |
|
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LRB095 09322 BDD 29516 b |
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| (a) The Authority may develop a program to provide |
2 |
| low-interest loans and other financing to individuals, |
3 |
| business entities, private organizations, and units of local |
4 |
| government for conservation projects in the State of Illinois. |
5 |
| (b) Projects under this Section may include, without |
6 |
| limitation, the acquisition of land for open-space projects, |
7 |
| preservation or recreation measures for open spaces, and energy |
8 |
| conservation or efficiency projects that are intended to reduce |
9 |
| energy usage and costs. |
10 |
| (c) The Authority, in cooperation with the Department of |
11 |
| Natural Resources and the Department of Commerce and Economic |
12 |
| Opportunity, may adopt any rules necessary for the |
13 |
| administration of this Section. The Authority must include any |
14 |
| information concerning the program under this Section on its |
15 |
| Internet website.
|
16 |
| Section 99. Effective date. This Act takes effect upon |
17 |
| becoming law.
|