Sen. Donne E. Trotter
Filed: 4/9/2013
 
 

 

 

 
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1
AMENDMENT TO SENATE BILL 1779




2    AMENDMENT NO. ______. Amend Senate Bill 1779 on page 21, 
3line 19, by changing "with" to "within"; and

 
4on page 27, line 26, by changing "amended," to "amended, except 
5as permitted under said Section 146,"; and
 
6by replacing line 14 on page 43 through line 23 on page 44 with 
7the following:
 
8    "(20 ILCS 3515/7.5 new)
9    Sec. 7.5. Required findings for environmental facilities 
10located outside the State. The State authority may approve an 
11application to finance or refinance environmental facilities 
12located outside of the State only after it has made either of 
13the following findings with respect to such financing or 
14refinancing, all of which shall be deemed conclusive:
15        (1) that all of the following conditions exist:
 
 
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1            (A) the entity financing or refinancing an 
2        environmental facility located outside the State, or 
3        an affiliate thereof, is also engaged in the financing 
4        or refinancing of an environmental facility located 
5        within the State or, alternately, the entity seeking 
6        the financing or refinancing, or an affiliate thereof, 
7        maintains a significant presence within the State;
8            (B) financing or refinancing the out-of-state 
9        environmental facility would promote the interests of 
10        the State for the benefit of the health, welfare, 
11        safety, trade, commerce, industry, and economy of the 
12        people of the State by reducing, controlling, or 
13        preventing environmental damage and pollution within 
14        the State or lowering the cost of environmental 
15        facilities within the State by reducing the cost of 
16        financing, refinancing, or operating environmental 
17        facilities; and
18            (C) after giving effect to the financing or 
19        refinancing of the out-of-state environmental 
20        facility, the State authority shall have the ability to 
21        issue at least an additional $250,000,000 in bonds 
22        under Section 9 of this Act; or 
23        (2) that financing or refinancing the out-of-state 
24    environmental facility will substantially reduce, control, 
25    or prevent environmental damage within the State.
26    The State authority shall not provide financing or 
 
 
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1refinancing for any project, or portion thereof, located 
2outside the boundaries of the United States of America.
3    Notwithstanding any other provision of this Act, the 
4Authority shall not provide financing or refinancing that uses 
5State volume cap under Section 146 of the Internal Revenue Code 
6of 1986, as amended, except as permitted under said Section 
7146, or constitutes an indebtedness or obligation, general or 
8moral, or a pledge of the full faith or loan of credit of the 
9State for any project, or portion thereof, that is located 
10outside of the State.".