093_SB1559ham001

 










                                     LRB093 03187 SJM 19846 a

 1                    AMENDMENT TO SENATE BILL 1559

 2        AMENDMENT NO.     .  Amend Senate Bill 1559 by  replacing
 3    everything after the enacting clause with the following:

 4        "Section  5.  The Rural Diversification Act is amended by
 5    changing Sections 2, 3, 4, and 5 as follows:

 6        (20 ILCS 690/2) (from Ch. 5, par. 2252)
 7        Sec. 2.  Findings and declaration of policy.  The General
 8    Assembly hereby finds, determines and declares:
 9        (a)  That Illinois is a  state  of  diversified  economic
10    strength  and that an important economic strength in Illinois
11    is  derived  from   rural   business   production   and   the
12    agribusiness industry;
13        (b)  That  the  Illinois  rural  economy is in a state of
14    transition, which presents a unique opportunity for the State
15    to act on its growth and development;
16        (c)  That full and continued growth  and  development  of
17    Illinois'  rural  economy,  especially in the small towns and
18    farm communities, is vital for Illinois;
19        (d)  That by encouraging the development  of  diversified
20    rural business and agricultural production, nonproduction and
21    processing  activities  in  Illinois,  the  State  creates  a
22    beneficial climate for new and improved job opportunities for
 
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 1    its citizens and expands jobs and job training opportunities;
 2        (e)  That  in  order  to  cultivate strong rural economic
 3    growth and  development  in  Illinois,  it  is  necessary  to
 4    proceed   with   a   plan  which  encourages  Illinois  rural
 5    businesses and agribusinesses to expand  business  employment
 6    opportunities   through   diversification   of  business  and
 7    industries,  offers  managerial,  technical   and   financial
 8    assistance   to   or   on  behalf  of  rural  businesses  and
 9    agribusiness, and works in a cooperative venture  and  spirit
10    with Illinois' business, labor, local government, educational
11    and scientific communities;
12        (f)  That dedication of State resources over a multi-year
13    period  targeted  to  promoting the growth and development of
14    one  or  more  classes   of   diversified   rural   products,
15    particularly  new  agricultural products, is an effective use
16    of State funds;
17        (g)  That the United States Congress,  having  identified
18    similar  needs  and purposes has enacted legislation creating
19    the United  States  Department  of  Agriculture/Farmers  Home
20    Administration  Non-profit National Finance Corporations Loan
21    and Grant Program and made funding available  to  the  states
22    consistent with the purposes of this Act.
23        (h)  That  the  Illinois  General  Assembly  has  enacted
24    "Rural  Revival"  and  a  series  of  "Harvest the Heartland"
25    initiatives which create within the Illinois Farm Development
26    Finance Authority a "Seed Capital Fund"  to  provide  venture
27    capital   for   emerging  new  agribusinesses,  and  to  help
28    coordinate  cooperative  research  and  development  on   new
29    agriculture technologies in conjunction with the Agricultural
30    Research  and  Development  Consortium  in Peoria, the United
31    State Department of Agriculture  Northern  Regional  Research
32    Laboratory  in Peoria, the institutions of higher learning in
33    Illinois, and  the  agribusiness  community  of  this  State,
34    identify  the  need  for  enhanced  efforts  by  the State to
 
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 1    promote the use of fuels utilizing ethanol made from Illinois
 2    grain, and promote forestry development in this State; and
 3        (i)  That there is a need to coordinate the many programs
 4    offered by the State of Illinois Departments of  Agriculture,
 5    Commerce  and  Community  Affairs, and Natural Resources, and
 6    the Illinois Farm  Development  Finance  Authority  that  are
 7    targeted  to  agriculture  and the rural community with those
 8    offered by the federal government.  Therefore it is desirable
 9    that the fullest measure of coordination and  integration  of
10    the  programs  offered  by the various state agencies and the
11    federal government be achieved.
12    (Source: P.A. 93-205, eff. 1-1-04.)

13        (20 ILCS 690/3) (from Ch. 5, par. 2253)
14        Sec. 3.  Definitions.  The following  words  and  phrases
15    shall  have  the  meaning  ascribed  to  each of them in this
16    Section unless the context clearly indicates otherwise:
17        (a)  "Office"  means  the  Office  of   Rural   Community
18    Development  within  the  Illinois Department of Commerce and
19    Community Affairs.
20        (b)  "Rural  business"  means  a  business,  including  a
21    cooperative,  proprietorship,  partnership,  corporation   or
22    other  entity,  that  is  located in a municipality of 20,000
23    population or less, or in an unincorporated area of a  county
24    with  a  population  of  less  than  350,000,  but  not  in a
25    municipality  which  is  contiguous  to  a  municipality   or
26    municipalities  with  a  population greater than 20,000.  The
27    business must  also  be  engaged  in  manufacturing,  mining,
28    agriculture, wholesale, transportation, tourism, or utilities
29    or  in  research  and  development or services to these basic
30    industrial sectors.
31        (c)  "Agribusiness", for purpose of  this  Act,  means  a
32    rural business that is defined as an agribusiness pursuant to
33    subsection  (i) of Section 2 of the Illinois Farm Development
 
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 1    Finance Authority Act.
 2        (d)  "Rural diversification project" means financing to a
 3    rural business for a specific activity undertaken to promote:
 4    (i) the improvement and expansion of business and industry in
 5    rural   areas;   (ii)   creation   of   entrepreneurial   and
 6    self-employment businesses; (iii)  industry  or  region  wide
 7    research directed to profit oriented uses of rural resources,
 8    and   (iv)   value   added  agricultural  supply,  production
 9    processing or reprocessing facilities or operations and shall
10    include but not be limited  to  agricultural  diversification
11    projects.
12        (e)  "Financing"  means  direct  loans at market or below
13    market rate interest, grants, technical assistance contracts,
14    or other means whereby monetary assistance is provided to  or
15    on behalf of rural business or agribusinesses for purposes of
16    rural diversification.
17        (f)  "Agricultural    diversification    project"   means
18    financing awarded to a rural business for a specific activity
19    undertaken to promote diversification of the farm economy  of
20    this  State through (i) profit oriented nonproduction uses of
21    Illinois land resources, (ii) growth and development  of  new
22    crops  or livestock not customarily grown or produced in this
23    State, or  (iii)  developments  which  emphasize  a  vertical
24    integration  of grain or livestock produced or raised in this
25    State into a finished product for consumption or  use.   "New
26    crops  or livestock not customarily grown or produced in this
27    State" does not include corn, soybeans, wheat, swine, or beef
28    or dairy cattle.  "Vertical integration of grain or livestock
29    produced or  raised  in  this  State"  includes  any  new  or
30    existing grain or livestock grown or produced in this State.
31    (Source: P.A. 93-205, eff. 1-1-04.)

32        (20 ILCS 690/4) (from Ch. 5, par. 2254)
33        Sec.  4.   Powers  of  the  Office.   The  Office has the
 
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 1    following powers, in addition to those granted to it by other
 2    law:
 3        (a)  To provide financing pursuant to the  provisions  of
 4    this  Act,  from  appropriations made by the General Assembly
 5    from the General Revenue Fund, Federal trust funds,  and  the
 6    Rural Diversification Revolving Fund created herein, to or on
 7    behalf  of  rural  business and agribusiness to promote rural
 8    diversification.
 9        (b)  To provide financing in the form of direct loans and
10    grants from State funds for qualifying agricultural and rural
11    diversification projects  independent  of  federal  financial
12    participation,  except  that no grants from State funds shall
13    be made directly with a rural business.
14        (c)  To provide financing in the form  of  direct  loans,
15    grants,  and  technical assistance contracts from State funds
16    for  qualifying  agricultural   and   rural   diversification
17    projects in coordination with federal financial participation
18    in  the  form of loan guarantees, direct loans, and grant and
19    technical assistance contract reimbursements.
20        (d)  To consider in the award of State  funded  financing
21    the  satisfaction  of  matching  requirements associated with
22    federal  financing  participation  and  the  maximization  of
23    federal financing participation to the benefit of  the  rural
24    Illinois economy.
25        (e)  To  enter into agreements or contracts, accept funds
26    or  grants,  and  cooperate  with  agencies  of  the  Federal
27    Government, State or Local Governments, the private sector or
28    non-profit organizations to carry out the  purposes  of  this
29    Act;
30        (f)  To  enter  into  agreements  or  contracts  for  the
31    promotion, application origination,  analysis or servicing of
32    the financings made by the Office pursuant to this Act;
33        (g)  To  receive  and  accept,  from  any  source, aid or
34    contributions of money, property or labor for the furtherance
 
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 1    of this Act and collect fees,  charges  or  advances  as  the
 2    Department may determine in connection with its financing;
 3        (h)  To establish application, notification, contract and
 4    other  procedures  and  other  procedures  and  rules  deemed
 5    necessary  and  appropriate  by  the  Office to carry out the
 6    provisions of this Act;
 7        (i)  To foreclose any  mortgage,  deed  of  trust,  note,
 8    debenture, bond or other security interest held by the Office
 9    and  to  take all such actions as may be necessary to enforce
10    any obligation held by the Office;
11        (j)  To  analyze  opportunities  and   needs   of   rural
12    communities,  primarily  those  communities experiencing farm
13    worker  distress   including   consultation   with   regional
14    commissions,  governments,  or diversification organizations,
15    and work to strengthen the coordination of existing  programs
16    offered  through  the  Office, the Department of Agriculture,
17    the  Department  of  Natural  Resources,  the  Illinois  Farm
18    Development  Finance  Authority,  the  Cooperative  Extension
19    Service and others for rural and agribusiness development and
20    assistance; and
21        (k)  To cooperate with an existing committee comprised of
22    representatives from the Office, the Rural Affairs Council or
23    its successor, the Department of  Agriculture,  the  Illinois
24    Farm  Development  Finance Authority and others to coordinate
25    departmental  policies  with  other  State  agencies  and  to
26    promote agricultural and rural diversification in the State.
27        (l)  To exercise such other right, powers and  duties  as
28    are necessary to fulfill the purposes of this Act.
29    (Source: P.A. 93-205, eff. 1-1-04.)

30        (20 ILCS 690/5) (from Ch. 5, par. 2255)
31        Sec.   5.    Agricultural   and   rural   diversification
32    financing.
33        (a)  The  Office's  financing  to  or  on behalf of rural
 
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 1    businesses or agribusinesses in the State shall  be  for  the
 2    purpose  of  assisting  in the cost of agricultural and rural
 3    diversification   projects   including    (i)    acquisition,
 4    construction,     reconstruction,     replacement,    repair,
 5    rehabilitation, alteration, expansion or  extension  of  real
 6    property,  buildings  or  machinery and equipment but not the
 7    acquisition of unimproved land for the production of crops or
 8    livestock; (ii)  working  capital  items  including  but  not
 9    limited   to,  inventory,  accounts  receivable  and  prepaid
10    expenses; (iii) organizational expenses  including,  but  not
11    limited   to,  architectural  and  engineering  costs,  legal
12    services, marketing analyses, production analyses,  or  other
13    professional  services;  (iv)  needed leasehold improvements,
14    easements, and other amenities required to  prepare  a  site;
15    (v)  information,  technical support and technical assistance
16    contracts  to  local  officials  or  not-for-profit  agencies
17    regarding private, state and federal resources,  programs  or
18    grant   assistances  and  the  needs  and  opportunities  for
19    diversification; and (vi) when conducted in cooperation  with
20    federal  reimbursement  programs,  financing  costs including
21    guarantee fees, packaging fees and origination fees  but  not
22    debt refinancing.
23        (b)  Agricultural or rural diversification financing to a
24    rural  business  or agribusiness under this Act shall be used
25    only where it can be shown that  the  agricultural  or  rural
26    diversification  project  for which financing is being sought
27    has the potential to  achieve  commercial  success  and  will
28    increase  employment,  directly or indirectly retain jobs, or
29    promote local diversification.
30        (c)  The  Office  shall  establish  an  internal   review
31    committee  with the Director of the Rural Affairs Council, or
32    his designee, the Director of the Department of  Agriculture,
33    or  his  designee,  and  the  Director  of  the Illinois Farm
34    Development Finance Authority, or his designee, as members to
 
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 1    assist in the review of all project applications.
 2        (d)  The Office shall not provide financing  to  a  rural
 3    business  or  agribusiness  unless  the  application includes
 4    convincing evidence that a  specific  agricultural  or  rural
 5    diversification project is ready to occur and will only occur
 6    if the financing is made.  The Office shall also consider the
 7    applicability  of  other  state and federal programs prior to
 8    financing any project.
 9    (Source: P.A. 93-205, eff. 1-1-04.)

10        Section  10.   The  Illinois  Finance  Authority  Act  is
11    amended  by  changing Sections 801-5, 801-10, 845-75, 845-80,
12    845-85, and 890-90 as follows:

13        (20 ILCS 3501/801-5)
14        Sec. 801-5.  Findings  and  declaration  of  policy.  The
15    General Assembly hereby finds, determines and declares:
16        (a)  that   there   are   a   number  of  existing  State
17    authorities  authorized  to  issue  bonds  to  alleviate  the
18    conditions and promote the objectives set forth below; and to
19    provide a stronger, better coordinated development effort, it
20    is determined to be in the interest of promoting the  health,
21    safety,  morals  and general welfare of all the people of the
22    State to consolidate certain  of  such  existing  authorities
23    into one finance authority;
24        (b)  that  involuntary  unemployment  affects the health,
25    safety, morals and general welfare of the people of the State
26    of Illinois;
27        (c)  that the economic burdens resulting from involuntary
28    unemployment fall in part upon  the  State  in  the  form  of
29    public  assistance and reduced tax revenues, and in the event
30    the unemployed worker and his  family  migrate  elsewhere  to
31    find  work,  may  also fall upon the municipalities and other
32    taxing districts within the areas of unemployment in the form
 
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 1    of reduced tax revenues, thereby endangering their  financial
 2    ability  to support necessary governmental services for their
 3    remaining inhabitants;
 4        (d)  that a vigorous growing economy is the basic  source
 5    of job opportunities;
 6        (e)  that  protection  against  involuntary unemployment,
 7    its economic burdens and the spread  of  economic  stagnation
 8    can  best  be  provided by promoting, attracting, stimulating
 9    and revitalizing industry, manufacturing and commerce in  the
10    State;
11        (f)  that the State has a responsibility to help create a
12    favorable  climate for new and improved job opportunities for
13    its citizens by encouraging  the  development  of  commercial
14    businesses and industrial and manufacturing plants within the
15    State;
16        (g)  that    increased    availability   of   funds   for
17    construction  of  new  facilities  and  the   expansion   and
18    improvement of existing facilities for industrial, commercial
19    and   manufacturing  facilities  will  provide  for  new  and
20    continued  employment  in  the  construction   industry   and
21    alleviate the burden of unemployment;
22        (h)  that in the absence of direct governmental subsidies
23    the  unaided  operations of private enterprise do not provide
24    sufficient   resources    for    residential    construction,
25    rehabilitation,  rental  or  purchase,  and that support from
26    housing  related  commercial  facilities  is  one  means   of
27    stimulating  residential construction, rehabilitation, rental
28    and purchase;
29        (i)  that it is in the public interest and the policy  of
30    this  State to foster and promote by all reasonable means the
31    provision of adequate  capital  markets  and  facilities  for
32    borrowing  money  by  units  of local government, and for the
33    financing of their respective public improvements  and  other
34    governmental purposes within the State from proceeds of bonds
 
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 1    or  notes  issued  by those governmental units; and to assist
 2    local governmental units in fulfilling their needs for  those
 3    purposes by use of creation of indebtedness;
 4        (j)  that  it is in the public interest and the policy of
 5    this State to the extent possible, to  reduce  the  costs  of
 6    indebtedness  to taxpayers and residents of this State and to
 7    encourage continued investor  interest  in  the  purchase  of
 8    bonds  or  notes of governmental units as sound and preferred
 9    securities for  investment;  and  to  encourage  governmental
10    units  to  continue  their independent undertakings of public
11    improvements  and  other  governmental   purposes   and   the
12    financing  thereof, and to assist them in those activities by
13    making funds available at reduced interest costs for  orderly
14    financing  of  those  purposes,  especially during periods of
15    restricted credit or money supply, and particularly for those
16    governmental units not otherwise able  to  borrow  for  those
17    purposes;
18        (k)  (blank); that in this State the following conditions
19    exist:  (i)  an  inadequate supply of funds at interest rates
20    sufficiently low to enable persons engaged in agriculture  in
21    this  State  to  pursue  agricultural  operations  at present
22    levels; (ii)  that  such  inability  to  pursue  agricultural
23    operations  lessens  the  supply  of agricultural commodities
24    available to fulfill the needs of the citizens of this State;
25    (iii) that such inability to  continue  operations  decreases
26    available  employment in the agricultural sector of the State
27    and results in unemployment and its attendant problems;  (iv)
28    that  such  conditions prevent the acquisition of an adequate
29    capital stock of farm equipment and machinery, much of  which
30    is  manufactured  in  this  State,  therefore  impairing  the
31    productivity  of  agricultural  land  and,  further,  causing
32    unemployment or lack of appropriate increase in employment in
33    such manufacturing; (v) that such conditions are conducive to
34    consolidation  of  acreage  of  agricultural  land with fewer
 
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 1    individuals living and  farming  on  the  traditional  family
 2    farm;  (vi)  that  these  conditions  result  in  a  loss  in
 3    population,  unemployment  and movement of persons from rural
 4    to urban areas accompanied by added costs to communities  for
 5    creation  of  new  public facilities and services; (vii) that
 6    there have been recurrent shortages of funds for agricultural
 7    purposes from private market sources at reasonable  rates  of
 8    interest;  (viii) that these shortages have made the sale and
 9    purchase of agricultural land to  family  farmers  a  virtual
10    impossibility  in  many  parts  of  the  State; (ix) that the
11    ordinary operations of private enterprise  have  not  in  the
12    past corrected these conditions; and (x) that a stable supply
13    of  adequate  funds for agricultural financing is required to
14    encourage family farmers in an orderly and  sustained  manner
15    and to reduce the problems described above;
16        (l)  that  for  the benefit of the people of the State of
17    Illinois, the conduct and increase  of  their  commerce,  the
18    protection  and enhancement of their welfare, the development
19    of continued prosperity and the improvement of  their  health
20    and  living conditions it is essential that all the people of
21    the State be given the fullest opportunity to  learn  and  to
22    develop  their intellectual and mental capacities and skills;
23    that to achieve these ends it is  of  the  utmost  importance
24    that  private  institutions  of  higher  education within the
25    State be provided with appropriate additional means to assist
26    the people of the State in achieving the required  levels  of
27    learning  and  development  of  their intellectual and mental
28    capacities and skills and that cultural  institutions  within
29    the  State  be  provided with appropriate additional means to
30    expand the services and resources which they  offer  for  the
31    cultural,  intellectual, scientific, educational and artistic
32    enrichment of the people of the State;
33        (m)  that in  order  to  foster  civic  and  neighborhood
34    pride,   citizens   require  access  to  facilities  such  as
 
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 1    educational institutions, recreation, parks and open  spaces,
 2    entertainment  and sports, a reliable transportation network,
 3    cultural facilities and  theaters  and  other  facilities  as
 4    authorized  by this Act, and that it is in the best interests
 5    of the State to lower the costs of  all  such  facilities  by
 6    providing financing through the State; and
 7        (n)  that  to  preserve  and  protect  the  health of the
 8    citizens of the State, and lower the costs  of  health  care,
 9    that  financing  for  health  facilities  should  be provided
10    through the State; and it is hereby declared to be the policy
11    of the State,  in  the  interest  of  promoting  the  health,
12    safety,  morals  and general welfare of all the people of the
13    State, to address the conditions noted above, to increase job
14    opportunities and to retain existing jobs in  the  State,  by
15    making  available  through  the  Illinois  Finance Authority,
16    hereinafter created, funds for the  development,  improvement
17    and   creation  of  industrial,  housing,  local  government,
18    educational, health, public purpose and  other  projects;  to
19    issue  its bonds and notes to make funds at reduced rates and
20    on more favorable terms for borrowing by  local  governmental
21    units  through  the  purchase  of  the  bonds or notes of the
22    governmental units; and to make  or  acquire  loans  for  the
23    acquisition  and  development  of agricultural facilities; to
24    provide  financing  for  private   institutions   of   higher
25    education, cultural institutions, health facilities and other
26    facilities  and  projects  as  authorized by this Act; and to
27    grant broad powers  to  the  Illinois  Finance  Authority  to
28    accomplish and to carry out these policies of the State which
29    are  in the public interest of the State and of its taxpayers
30    and residents.
31    (Source: P.A. 93-205, eff. 1-1-04.)

32        (20 ILCS 3501/801-10)
33        Sec. 801-10. Definitions. The following  terms,  whenever
 
                            -13-     LRB093 03187 SJM 19846 a
 1    used  or  referred  to  in this Act, shall have the following
 2    meanings, except in such  instances  where  the  context  may
 3    clearly indicate otherwise:
 4        (a)  The  term  "Authority"  means  the  Illinois Finance
 5    Authority created by this Act.
 6        (b)  The term  "project"  means  an  industrial  project,
 7    housing  project,  public  purpose  project, higher education
 8    project, health facility project,  and  cultural  institution
 9    project, agricultural facility or agribusiness, and "project"
10    may  include  any combination of one or more of the foregoing
11    undertaken jointly by any  person  with  one  or  more  other
12    persons, but "project" shall not include any facility used or
13    to  be  used  for  sectarian  instruction  or  as  a place of
14    religious worship nor any facility which is  used  or  to  be
15    used  primarily in connection with any part of the program of
16    a  school  or  department  of  divinity  for  any   religious
17    denomination or the training of ministers, priests, rabbis or
18    other professional persons in the field of religion.
19        (c)  The  term "public purpose project" means any project
20    or facility including  without  limitation  land,  buildings,
21    structures,  machinery,  equipment  and  all  other  real and
22    personal property, which is authorized or required by law  to
23    be    acquired,    constructed,    improved,   rehabilitated,
24    reconstructed,  replaced  or  maintained  by  any   unit   of
25    government  or  any  other  lawful  public  purpose  which is
26    authorized or required by law to be undertaken by any unit of
27    government.
28        (d)  The term "industrial project" means the acquisition,
29    construction,   refurbishment,   creation,   development   or
30    redevelopment of any  facility,  equipment,  machinery,  real
31    property  or personal property for use by any instrumentality
32    of the State or its political subdivisions, for  use  by  any
33    person  or  institution, public or private, for profit or not
34    for profit, or for use in any trade  or  business  including,
 
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 1    but   not   limited  to,  any  industrial,  manufacturing  or
 2    commercial enterprise and which  is  (1)  a  capital  project
 3    including  but  not  limited  to:  (i)  land  and  any rights
 4    therein,  one  or  more  buildings,   structures   or   other
 5    improvements,  machinery  and equipment, whether now existing
 6    or hereafter acquired, and whether or not located on the same
 7    site  or  sites;  (ii)  all  appurtenances   and   facilities
 8    incidental  to  the  foregoing, including, but not limited to
 9    utilities, access roads, railroad sidings, track, docking and
10    similar facilities, parking  facilities,  dockage,  wharfage,
11    railroad  roadbed, track, trestle, depot, terminal, switching
12    and signaling or  related  equipment,  site  preparation  and
13    landscaping;  and  (iii)  all  non-capital costs and expenses
14    relating  thereto  or  (2)  any  addition   to,   renovation,
15    rehabilitation or improvement of a capital project or (3) any
16    activity  or  undertaking which the Authority determines will
17    aid, assist or  encourage  economic  growth,  development  or
18    redevelopment  within  the  State  or  any area thereof, will
19    promote  the  expansion,  retention  or  diversification   of
20    employment opportunities within the State or any area thereof
21    or  will  aid  in  stabilizing  or developing any industry or
22    economic sector of the State economy.  The  term  "industrial
23    project" also means the production of motion pictures.
24        (e)  The  term  "bond"  or  "bonds"  shall include bonds,
25    notes (including bond, grant or revenue anticipation  notes),
26    certificates   and/or   other   evidences   of   indebtedness
27    representing  an obligation to pay money, including refunding
28    bonds.
29        (f)  The terms "lease  agreement"  and  "loan  agreement"
30    shall  mean:  (i)  an agreement whereby a project acquired by
31    the Authority by purchase, gift or lease  is  leased  to  any
32    person,  corporation  or  unit of local government which will
33    use or  cause  the  project  to  be  used  as  a  project  as
34    heretofore  defined  upon  terms  providing  for lease rental
 
                            -15-     LRB093 03187 SJM 19846 a
 1    payments at least sufficient to pay when  due  all  principal
 2    of,  interest  and  premium,  if  any,  on  any  bonds of the
 3    Authority issued with respect to such project, providing  for
 4    the  maintenance,  insuring  and  operation of the project on
 5    terms  satisfactory   to   the   Authority,   providing   for
 6    disposition  of  the  project  upon  termination of the lease
 7    term,  including  purchase  options  or  abandonment  of  the
 8    premises, and such other terms as may be deemed desirable  by
 9    the  Authority,  or  (ii) any agreement pursuant to which the
10    Authority agrees to loan the proceeds  of  its  bonds  issued
11    with  respect to a project or other funds of the Authority to
12    any person which will use or cause the project to be used  as
13    a project as heretofore defined upon terms providing for loan
14    repayment  installments  at  least sufficient to pay when due
15    all principal of, interest and premium, if any, on any  bonds
16    of the Authority, if any, issued with respect to the project,
17    and providing for maintenance, insurance and other matters as
18    may be deemed desirable by the Authority.
19        (g)  The  term  "financial  aid" means the expenditure of
20    Authority funds or funds provided by  the  Authority  through
21    the  issuance  of  its  bonds,  notes  or  other evidences of
22    indebtedness or  from  other  sources  for  the  development,
23    construction, acquisition or improvement of a project.
24        (h)  The  term "person" means an individual, corporation,
25    unit  of   government,   business   trust,   estate,   trust,
26    partnership  or association, 2 or more persons having a joint
27    or common interest, or any other legal entity.
28        (i)  The term "unit  of  government"  means  the  federal
29    government,  the  State or unit of local government, a school
30    district, or any agency or instrumentality, office,  officer,
31    department,   division,   bureau,   commission,   college  or
32    university thereof.
33        (j)  The term "health facility" means: (a) any public  or
34    private  institution,  place, building, or agency required to
 
                            -16-     LRB093 03187 SJM 19846 a
 1    be licensed under the Hospital Licensing Act; (b) any  public
 2    or  private  institution, place, building, or agency required
 3    to be licensed under the  Nursing  Home  Care  Act;  (c)  any
 4    public  or licensed private hospital as defined in the Mental
 5    Health and Developmental  Disabilities  Code;  (d)  any  such
 6    facility  exempted  from  such licensure when the Director of
 7    Public Health attests that such exempted facility  meets  the
 8    statutory  definition of a facility subject to licensure; (e)
 9    any other  public  or  private  health  service  institution,
10    place,  building,  or  agency  which  the  Director of Public
11    Health attests is subject to certification by the  Secretary,
12    U.S. Department of Health and Human Services under the Social
13    Security  Act,  as  now  or  hereafter  amended, or which the
14    Director   of   Public   Health   attests   is   subject   to
15    standard-setting  by  a  recognized   public   or   voluntary
16    accrediting  or  standard-setting  agency;  (f) any public or
17    private institution, place, building  or  agency  engaged  in
18    providing  one  or  more  supporting  services  to  a  health
19    facility;  (g)  any  public  or  private  institution, place,
20    building or agency  engaged  in  providing  training  in  the
21    healing  arts,  including  but  not  limited  to  schools  of
22    medicine,   dentistry,   osteopathy,   optometry,   podiatry,
23    pharmacy  or  nursing,  schools  for  the  training of x-ray,
24    laboratory or other health care technicians and  schools  for
25    the  training of para-professionals in the health care field;
26    (h) any public or private congregate, life or  extended  care
27    or elderly housing facility or any public or private home for
28    the  aged  or  infirm,  including,  without  limitation,  any
29    Facility  as defined in the Life Care Facilities Act; (i) any
30    public   or   private   mental,   emotional    or    physical
31    rehabilitation facility or any public or private educational,
32    counseling,  or  rehabilitation  facility  or home, for those
33    persons  with  a  developmental  disability,  those  who  are
34    physically ill or disabled, the emotionally disturbed,  those
 
                            -17-     LRB093 03187 SJM 19846 a
 1    persons  with  a  mental  illness or persons with learning or
 2    similar disabilities or problems; (j) any public  or  private
 3    alcohol,   drug  or  substance  abuse  diagnosis,  counseling
 4    treatment or  rehabilitation  facility,  (k)  any  public  or
 5    private  institution,  place,  building or agency licensed by
 6    the Department of Children and Family Services  or  which  is
 7    not so licensed but which the Director of Children and Family
 8    Services  attests provides child care, child welfare or other
 9    services of the type provided by facilities subject  to  such
10    licensure;  (l)  any  public  or  private  adoption agency or
11    facility; and (m) any public or private blood bank  or  blood
12    center.  "Health  facility"  also  means  a public or private
13    structure or structures  suitable  primarily  for  use  as  a
14    laboratory,  laundry,  nurses  or  interns residence or other
15    housing or hotel facility used in whole or in part for staff,
16    employees  or  students  and  their  families,  patients   or
17    relatives  of  patients  admitted  for treatment or care in a
18    health facility, or persons conducting business with a health
19    facility, physician's facility,  surgicenter,  administration
20    building,  research facility, maintenance, storage or utility
21    facility and all structures or facilities related to  any  of
22    the  foregoing  or  required or useful for the operation of a
23    health facility, including parking  or  other  facilities  or
24    other  supporting  service  structures required or useful for
25    the orderly conduct of such health facility.
26        (k)  The term "participating health institution" means  a
27    private  corporation  or association or public entity of this
28    State, authorized by the laws of this  State  to  provide  or
29    operate  a  health facility as defined in this Act and which,
30    pursuant to  the  provisions  of  this  Act,  undertakes  the
31    financing,  construction  or  acquisition  of  a  project  or
32    undertakes  the  refunding  or  refinancing  of  obligations,
33    loans, indebtedness or advances as provided in this Act.
34        (l)  The term "health facility project", means a specific
 
                            -18-     LRB093 03187 SJM 19846 a
 1    health  facility  work  or  improvement  to  be  financed  or
 2    refinanced     (including    without    limitation    through
 3    reimbursement of prior expenditures), acquired,  constructed,
 4    enlarged,   remodeled,  renovated,  improved,  furnished,  or
 5    equipped, with funds provided in whole or in part  hereunder,
 6    any   accounts  receivable,  working  capital,  liability  or
 7    insurance cost or operating expense financing or  refinancing
 8    program of a health facility with or involving funds provided
 9    in whole or in part hereunder, or any combination thereof.
10        (m)  The  term  "bond resolution" means the resolution or
11    resolutions authorizing the issuance of, or  providing  terms
12    and  conditions  related  to, bonds issued under this Act and
13    includes,  where  appropriate,  any  trust  agreement,  trust
14    indenture, indenture of mortgage or deed of  trust  providing
15    terms and conditions for such bonds.
16        (n)  The  term  "property"  means  any  real, personal or
17    mixed  property,  whether  tangible  or  intangible,  or  any
18    interest therein, including,  without  limitation,  any  real
19    estate,   leasehold   interests,   appurtenances,  buildings,
20    easements, equipment, furnishings,  furniture,  improvements,
21    machinery,  rights  of  way,  structures,  accounts, contract
22    rights or any interest therein.
23        (o)  The term  "revenues"  means,  with  respect  to  any
24    project,   the  rents,  fees,  charges,  interest,  principal
25    repayments, collections and other income  or  profit  derived
26    therefrom.
27        (p)  The  term  "higher  education project" means, in the
28    case  of  a  private  institution  of  higher  education,  an
29    educational facility to be acquired,  constructed,  enlarged,
30    remodeled,  renovated,  improved,  furnished, or equipped, or
31    any combination thereof.
32        (q)  The term "cultural institution  project"  means,  in
33    the case of a cultural institution, a cultural facility to be
34    acquired,   constructed,   enlarged,   remodeled,  renovated,
 
                            -19-     LRB093 03187 SJM 19846 a
 1    improved, furnished, or equipped, or any combination thereof.
 2        (r)  The term "educational facility" means  any  property
 3    located  within  the  State constructed or acquired before or
 4    after the effective date of this Act, which is or will be, in
 5    whole or in part,  suitable  for  the  instruction,  feeding,
 6    recreation or housing of students, the conducting of research
 7    or  other  work of a private institution of higher education,
 8    the use by a  private  institution  of  higher  education  in
 9    connection  with  any  educational,  research  or  related or
10    incidental activities then being or to be conducted by it, or
11    any  combination  of  the   foregoing,   including,   without
12    limitation,  any  such  property  suitable  for  use as or in
13    connection with any one or more of the following: an academic
14    facility,  administrative  facility,  agricultural  facility,
15    assembly  hall,  athletic   facility,   auditorium,   boating
16    facility,  campus, communication facility, computer facility,
17    continuing  education  facility,  classroom,   dining   hall,
18    dormitory,  exhibition  hall,  fire  fighting  facility, fire
19    prevention facility, food service and  preparation  facility,
20    gymnasium,   greenhouse,   health  care  facility,  hospital,
21    housing,   instructional   facility,   laboratory,   library,
22    maintenance  facility,  medical  facility,  museum,  offices,
23    parking  area,  physical  education  facility,   recreational
24    facility,   research  facility,  stadium,  storage  facility,
25    student  union,  study  facility,  theatre  or  utility.   An
26    educational  facility  shall not include any property used or
27    to be used for sectarian instruction or study or as  a  place
28    for  devotional  activities  or  religious  worship  nor  any
29    property  which is used or to be used primarily in connection
30    with any part of the program of a  school  or  department  of
31    divinity for any religious denomination.
32        (s)  The  term  "cultural  facility"  means  any property
33    located within the State constructed or  acquired  before  or
34    after the effective date of this Act, which is or will be, in
 
                            -20-     LRB093 03187 SJM 19846 a
 1    whole  or  in  part,  suitable for the particular purposes or
 2    needs  of  a   cultural   institution,   including,   without
 3    limitation,  any  such  property  suitable  for  use as or in
 4    connection  with  any  one  or  more  of  the  following:  an
 5    administrative facility, aquarium, assembly hall, auditorium,
 6    botanical  garden,  exhibition  hall,  gallery,   greenhouse,
 7    library, museum, scientific laboratory, theater or zoological
 8    facility,  and shall also include, without limitation, books,
 9    works of art or music, animal, plant or aquatic life or other
10    items  for  display,  exhibition  or  performance.  The  term
11    "cultural  facility"  includes  buildings  on  the   National
12    Register  of  Historic  Places which are owned or operated by
13    nonprofit entities. A cultural facility shall not include any
14    property used or to be  used  for  sectarian  instruction  or
15    study  or  as  a place for devotional activities or religious
16    worship nor  any  property  which  is  used  or  to  be  used
17    primarily  in  connection  with  any part of the program of a
18    school  or  department  of   divinity   for   any   religious
19    denomination.
20        (t)  "Private  institution  of  higher education" means a
21    not-for-profit educational institution which is not owned  by
22    the    State    or   any   political   subdivision,   agency,
23    instrumentality, district or municipality thereof,  which  is
24    authorized  by  law  to provide a program of education beyond
25    the high school level and which:
26             (1)  Admits as  regular  students  only  individuals
27        having a certificate of graduation from a high school, or
28        the recognized equivalent of such a certificate;
29             (2)  Provides  an  educational  program for which it
30        awards a bachelor's degree, or  provides  an  educational
31        program,  admission  into  which  is conditioned upon the
32        prior  attainment  of  a   bachelor's   degree   or   its
33        equivalent, for which it awards a postgraduate degree, or
34        provides   not  less  than  a  2-year  program  which  is
 
                            -21-     LRB093 03187 SJM 19846 a
 1        acceptable for full  credit  toward  such  a  degree,  or
 2        offers  a  2-year program in engineering, mathematics, or
 3        the physical or biological sciences which is designed  to
 4        prepare  the  student  to  work  as a technician and at a
 5        semiprofessional level  in  engineering,  scientific,  or
 6        other    technological    fields    which   require   the
 7        understanding  and  application  of  basic   engineering,
 8        scientific, or mathematical principles or knowledge;
 9             (3)  Is   accredited   by  a  nationally  recognized
10        accrediting  agency  or  association  or,   if   not   so
11        accredited, is an institution whose credits are accepted,
12        on transfer, by not less than 3 institutions which are so
13        accredited,   for   credit   on  the  same  basis  as  if
14        transferred from an institution so accredited, and  holds
15        an  unrevoked  certificate  of approval under the Private
16        College Act from the Board of  Higher  Education,  or  is
17        qualified  as  a  "degree granting institution" under the
18        Academic Degree Act; and
19             (4)  Does  not  discriminate  in  the  admission  of
20        students on the basis of race, color or  creed.  "Private
21        institution   of  higher  education"  also  includes  any
22        "academic institution".
23        (u)  The   term   "academic   institution"   means    any
24    not-for-profit institution which is not owned by the State or
25    any  political subdivision, agency, instrumentality, district
26    or municipality thereof, which  institution  engages  in,  or
27    facilitates academic, scientific, educational or professional
28    research  or learning in a field or fields of study taught at
29    a  private  institution   of   higher   education.   Academic
30    institutions    include,   without   limitation,   libraries,
31    archives, academic, scientific, educational  or  professional
32    societies,  institutions,  associations or foundations having
33    such purposes. Academic  institution  does  not  include  any
34    school  or  any institution primarily engaged in religious or
 
                            -22-     LRB093 03187 SJM 19846 a
 1    sectarian activities.
 2        (v)  The   term   "cultural   institution"   means    any
 3    not-for-profit institution which is not owned by the State or
 4    any  political subdivision, agency, instrumentality, district
 5    or municipality thereof, which  institution  engages  in  the
 6    cultural,  intellectual,  scientific, educational or artistic
 7    enrichment of the people of the State. Cultural  institutions
 8    include,  without  limitation,  aquaria, botanical societies,
 9    historical societies,  libraries,  museums,  performing  arts
10    associations   or   societies,   scientific   societies   and
11    zoological  societies.  Cultural institution does not include
12    any institution primarily engaged in religious  or  sectarian
13    activities.
14        (w)  (Blank). The term "affiliate" means, with respect to
15    financing of an agricultural facility or an agribusiness, any
16    lender,  any  person,  firm  or corporation controlled by, or
17    under common control with, such lender, and any person,  firm
18    or corporation controlling such lender.
19        (x)  (Blank).  The  term  "agricultural  facility"  means
20    land,  any  building or other improvement thereon or thereto,
21    and any personal properties deemed necessary or suitable  for
22    use,  whether  or not now in existence, in farming, ranching,
23    the  production  of  agricultural   commodities   (including,
24    without  limitation, the products of aquaculture, hydroponics
25    and silviculture) or the treating, processing or  storing  of
26    such   agricultural  commodities  when  such  activities  are
27    customarily engaged in by farmers as a part of farming.
28        (y)  (Blank). The term "lender" with respect to financing
29    of an agricultural facility or  an  agribusiness,  means  any
30    federal   or   State   chartered  bank,  Federal  Land  Bank,
31    Production Credit Association, Bank for Cooperatives, federal
32    or State chartered savings and loan association  or  building
33    and  loan  association,  Small Business Investment Company or
34    any  other  institution  qualified  within  this   State   to
 
                            -23-     LRB093 03187 SJM 19846 a
 1    originate   and   service   loans,   including,  but  without
 2    limitation  to,  insurance  companies,  credit   unions   and
 3    mortgage  loan  companies. "Lender" also means a wholly owned
 4    subsidiary of a manufacturer, seller or distributor of  goods
 5    or  services  that  makes loans to businesses or individuals,
 6    commonly known as a "captive finance company".
 7        (z)  (Blank). The  term  "agribusiness"  means  any  sole
 8    proprietorship,  limited  partnership,  co-partnership, joint
 9    venture, corporation or cooperative which  operates  or  will
10    operate  a facility located within the State of Illinois that
11    is related to  the  processing  of  agricultural  commodities
12    (including,  without limitation, the products of aquaculture,
13    hydroponics   and   silviculture)   or   the   manufacturing,
14    production  or  construction   of   agricultural   buildings,
15    structures, equipment, implements, and supplies, or any other
16    facilities  or  processes  used  in  agricultural production.
17    Agribusiness includes but is not limited to the following:
18             (1)  grain handling and processing, including  grain
19        storage,  drying,  treatment,  conditioning,  mailing and
20        packaging;
21             (2)  seed and feed grain development and processing;
22             (3)  fruit  and  vegetable   processing,   including
23        preparation, canning and packaging;
24             (4)  processing of livestock and livestock products,
25        dairy  products,  poultry  and  poultry products, fish or
26        apiarian   products,   including   slaughter,   shearing,
27        collecting, preparation, canning and packaging;
28             (5)  fertilizer    and     agricultural     chemical
29        manufacturing, processing, application and supplying;
30             (6)  farm   machinery,   equipment   and   implement
31        manufacturing and supplying;
32             (7)  manufacturing  and  supplying  of  agricultural
33        commodity  processing  machinery and equipment, including
34        machinery and equipment  used  in  slaughter,  treatment,
 
                            -24-     LRB093 03187 SJM 19846 a
 1        handling,  collecting,  preparation, canning or packaging
 2        of agricultural commodities;
 3             (8)  farm building and farm structure manufacturing,
 4        construction and supplying;
 5             (9)  construction,  manufacturing,   implementation,
 6        supplying  or  servicing of irrigation, drainage and soil
 7        and water conservation devices or equipment;
 8             (10)  fuel  processing  and  development  facilities
 9        that  produce  fuel  from  agricultural  commodities   or
10        byproducts;
11             (11)  facilities  and  equipment  for processing and
12        packaging  agricultural  commodities   specifically   for
13        export;
14             (12)  facilities  and equipment for forestry product
15        processing   and    supplying,    including    sawmilling
16        operations,   wood  chip  operations,  timber  harvesting
17        operations, and manufacturing of prefabricated buildings,
18        paper, furniture or other goods from forestry products;
19             (13)  facilities  and  equipment  for  research  and
20        development of products, processes and equipment for  the
21        production,   processing,  preparation  or  packaging  of
22        agricultural commodities and byproducts.
23        (aa)  (Blank). The term "asset" with respect to financing
24    of any agricultural facility or any agribusiness, means,  but
25    is  not limited to the following: cash crops or feed on hand;
26    livestock held for sale; breeding stock; marketable bonds and
27    securities;  securities  not  readily  marketable;   accounts
28    receivable; notes receivable; cash invested in growing crops;
29    net  cash  value  of life insurance; machinery and equipment;
30    cars and trucks; farm and other real  estate  including  life
31    estates and personal residence; value of beneficial interests
32    in  trusts;  government  payments  or  grants;  and any other
33    assets.
34        (bb)  (Blank).  The  term  "liability"  with  respect  to
 
                            -25-     LRB093 03187 SJM 19846 a
 1    financing of any agricultural facility  or  any  agribusiness
 2    shall  include, but not be limited to the following: accounts
 3    payable; notes or other  indebtedness  owed  to  any  source;
 4    taxes;  rent;  amounts  owed on real estate contracts or real
 5    estate mortgages; judgments; accrued  interest  payable;  and
 6    any other liability.
 7        (cc)  The  term  "Predecessor  Authorities"  means  those
 8    authorities as described in Section 845-75.
 9        (dd)  The term "housing project" means a specific work or
10    improvement   undertaken   to  provide  residential  dwelling
11    accommodations, including the  acquisition,  construction  or
12    rehabilitation  of  lands, buildings and community facilities
13    and in connection therewith to provide nonhousing  facilities
14    which  are  part  of  the  housing  project,  including land,
15    buildings,  improvements,   equipment   and   all   ancillary
16    facilities  for  use  for  offices, stores, retirement homes,
17    hotels,  financial  institutions,   service,   health   care,
18    education,  recreation  or  research  establishments,  or any
19    other commercial purpose which are or are to be related to  a
20    housing development.
21    (Source: P.A. 93-205, eff. 1-1-04.)

22        (20 ILCS 3501/845-75)
23        Sec.   845-75.  Transfer  of  functions  from  previously
24    existing authorities to the Illinois Finance  Authority.  The
25    Illinois  Finance  Authority  created by the Illinois Finance
26    Authority Act shall  succeed  to,  assume  and  exercise  all
27    rights,   powers,   duties   and   responsibilities  formerly
28    exercised by the following Authorities and  entities  (herein
29    called  the "Predecessor Authorities") prior to the abolition
30    of the Predecessor Authorities by this Act:
31        The Illinois Development Finance Authority
32        The Illinois Farm Development Authority
33        The Illinois Health Facilities Authority
 
                            -26-     LRB093 03187 SJM 19846 a
 1        The Illinois Educational Facilities Authority
 2        The Illinois Community Development Finance Corporation
 3        The Illinois Rural Bond Bank
 4        The Research Park Authority
 5        All  books,  records,  papers,  documents   and   pending
 6    business in any way pertaining to the Predecessor Authorities
 7    are  transferred  to  the Illinois Finance Authority, but any
 8    rights or obligations of any person under any  contract  made
 9    by,  or  under  any  rules,  regulations,  uniform standards,
10    criteria and guidelines  established  or  approved  by,  such
11    Predecessor  Authorities  shall  be  unaffected  thereby. All
12    bonds, notes or other evidences of  indebtedness  outstanding
13    on  the effective date of this Act shall be unaffected by the
14    transfer of functions to the Illinois Finance  Authority.  No
15    rule,    regulation,    standard,   criteria   or   guideline
16    promulgated,  established  or  approved  by  the  Predecessor
17    Authorities pursuant to an exercise of any right, power, duty
18    or responsibility assumed by and transferred to the  Illinois
19    Finance Authority shall be affected by this Act, and all such
20    rules,  regulations, standards, criteria and guidelines shall
21    become those of the Illinois  Finance  Authority  until  such
22    time  as they are amended or repealed by the Illinois Finance
23    Authority.
24    (Source: P.A. 93-205, eff. 1-1-04.)

25        (20 ILCS 3501/845-80)
26        Sec. 845-80.  Any  reference  in  statute,  in  rule,  or
27    otherwise  to  the  following  entities is a reference to the
28    Illinois Finance Authority created by this Act:
29        The Illinois Development Finance Authority.
30        The Illinois Farm Development Authority.
31        The Illinois Health Facilities Authority.
32        The Illinois Research Park Authority.
33        The Illinois Rural Bond Bank.
 
                            -27-     LRB093 03187 SJM 19846 a
 1        The Illinois Educational Facilities Authority.
 2        The Illinois Community Development Finance Corporation.
 3    (Source: P.A. 93-205, eff. 1-1-04.)

 4        (20 ILCS 3501/845-85)
 5        Sec. 845-85.  Any  reference  in  statute,  in  rule,  or
 6    otherwise to the following Acts is a reference to this Act:
 7        The Illinois Development Finance Authority Act.
 8        The Illinois Farm Development Act.
 9        The Illinois Health Facilities Authority Act.
10        The Illinois Research Park Authority Act.
11        The Rural Bond Bank Act.
12        The Illinois Educational Facilities Authority Act.
13        The  Illinois  Community  Development Finance Corporation
14    Act.
15    (Source: P.A. 93-205, eff. 1-1-04.)

16        (20 ILCS 3501/890-90)
17        Sec. 890-90.  The following Acts are repealed:
18             The Illinois Development Finance Authority Act.
19             The Illinois Farm Development Act.
20             The Illinois Health Facilities Authority Act.
21             The Illinois Research Park Authority Act.
22             The Rural Bond Bank Act.
23             The Illinois Educational Facilities Authority Act.
24             The   Illinois   Community    Development    Finance
25        Corporation Act.
26    (Source: P.A. 93-205, eff. 1-1-04.)

27        (20 ILCS 3501/Art. 830 rep.)
28        Section.  12.  The  Illinois  Finance  Authority  Act  is
29    amended by repealing Article 830.

30        Section  15.  The Emergency Farm Credit Allocation Act is
 
                            -28-     LRB093 03187 SJM 19846 a
 1    amended by changing Sections 3 and 4 as follows:

 2        (20 ILCS 3610/3) (from Ch. 5, par. 1253)
 3        Sec. 3.  As used in this Act unless the context otherwise
 4    requires:
 5        (a)  "Applicant" means an Illinois farmer applying for an
 6    operating loan.
 7        (b)  "Operating  loan"  means  a  loan to an applicant in
 8    connection with cultivating the soil, or in  connection  with
 9    raising  or  harvesting  any  agricultural  or  horticultural
10    commodity,  including  the raising, feeding and management of
11    livestock or poultry on a farm of which the applicant is  the
12    owner,  tenant, or operator, for the current year's operating
13    expenses.
14        (c)  "Lender" means any federal or State chartered  bank,
15    federal  land  bank,  production credit association, bank for
16    cooperatives, federal or State  chartered  savings  and  loan
17    association   or  building  and  loan  association,  business
18    investment company or any other institution qualified  within
19    this  State  to  originate  and service loans, including, but
20    without limitation to, insurance companies, credit unions and
21    mortgage loan companies.
22        (d)  "Payment adjustment" means an amount of money  equal
23    to one-half of the total interest payable on the principal of
24    the operating loan.
25        (e)  "Authority"  means  the  Illinois  Farm  Development
26    Finance Authority.
27        (f)  "Asset"  shall  include,  but  not be limited to the
28    following: cash crops or feed on  hand;  livestock  held  for
29    sale;   breeding  stock;  marketable  bonds  and  securities;
30    securities not readily marketable; accounts receivable; notes
31    receivable; cash invested in growing crops; net cash value of
32    life insurance; machinery and  equipment;  cars  and  trucks;
33    farm  and  other  real  estate  including  life  estates  and
 
                            -29-     LRB093 03187 SJM 19846 a
 1    personal  residence; value of beneficial interests in trusts;
 2    government payments or grants; and any other assets.
 3        (g)  "Liability" shall include, but not be limited to the
 4    following: accounts payable; notes or other indebtedness owed
 5    to any source; taxes;  rent;  amounts  owed  on  real  estate
 6    contracts   or  real  estate  mortgages;  judgments;  accrued
 7    interest payable; and any other liability.
 8        (h)  "Debt to asset ratio" means the current  outstanding
 9    liabilities  of the farmer divided by the current outstanding
10    assets of the farmer.
11    (Source: P.A. 93-205, eff. 1-1-04.)

12        (20 ILCS 3610/4) (from Ch. 5, par. 1254)
13        Sec. 4.  There is hereby  created  a  payment  adjustment
14    program  to  be administered by the Illinois Farm Development
15    Finance Authority. The Authority shall have the authority  to
16    promulgate   and   adopt  rules  and  regulations  which  are
17    consistent with this Act. The Authority may impose a  minimal
18    fee  to  cover the costs of administering the program.  On or
19    before May 1 of each of the next  six  years,  or  until  all
20    repayments  have  been  received  on payment adjustments, the
21    Authority shall submit a report to the General  Assembly  and
22    the  Governor concerning the status of the payment adjustment
23    program.  The Authority shall grant  no  payment  adjustments
24    after June 15, 1986.
25    (Source: P.A. 93-205, eff. 1-1-04.)

26        Section   20.   The  Build  Illinois  Act  is  amended by
27    changing Section 8-3 as follows:

28        (30 ILCS 750/8-3) (from Ch. 127, par. 2708-3)
29        Sec. 8-3.  Powers of the Department.  The Department  has
30    the power to:
31        (a)  provide  business  development public infrastructure
 
                            -30-     LRB093 03187 SJM 19846 a
 1    loans or grants from appropriations from the  Build  Illinois
 2    Bond  Fund,  the  Build  Illinois Purposes Fund, the Fund for
 3    Illinois' Future, and the Public Infrastructure  Construction
 4    Loan  Fund  to  local  governments  to  provide  or improve a
 5    community's public infrastructure so as to create  or  retain
 6    private  sector  jobs  pursuant  to  the  provisions  of this
 7    Article;
 8        (b)  provide    affordable    financing     of     public
 9    infrastructure  loans  and  grants to, or on behalf of, local
10    governments, local public entities, medical  facilities,  and
11    public  health  clinics  from  appropriations from the Public
12    Infrastructure Construction Loan  Fund  for  the  purpose  of
13    assisting  with  the  financing, or application and access to
14    financing, of a community's public  infrastructure  necessary
15    to health, safety, and economic development;
16        (c)  enter  into  agreements, accept funds or grants, and
17    engage  in  cooperation  with   agencies   of   the   federal
18    government,  or  state  or local governments to carry out the
19    purposes of this  Article,  and  to  use  funds  appropriated
20    pursuant   to   this   Article   to  participate  in  federal
21    infrastructure loan and grant programs upon  such  terms  and
22    conditions as may be established by the federal government;
23        (d)  establish  application,  notification, contract, and
24    other procedures, rules, or regulations deemed necessary  and
25    appropriate to carry out the provisions of this Article;
26        (e)  coordinate   assistance   under  this  program  with
27    activities of the Illinois  Finance  Authority  in  order  to
28    maximize   the   effectiveness   and   efficiency   of  State
29    development programs;
30        (f)  coordinate assistance under the Affordable Financing
31    of Public Infrastructure Loan  and  Grant  Program  with  the
32    activities   of  the  Illinois  Finance  Authority,  Illinois
33    Finance  Authority,   Illinois   Farm   Development   Finance
34    Authority,  Illinois  Housing Development Authority, Illinois
 
                            -31-     LRB093 03187 SJM 19846 a
 1    Environmental Protection Agency, and other federal and  State
 2    programs  and  entities  providing  financing  assistance  to
 3    communities   for   public   health,   safety,  and  economic
 4    development infrastructure;
 5        (f-5)  provide staff, administration, and related support
 6    required to manage the programs authorized under this Article
 7    and pay for the staffing, administration, and related support
 8    from the Public Infrastructure  Construction  Loan  Revolving
 9    Fund;
10        (g)  exercise  such  other  powers  as  are  necessary or
11    incidental to the foregoing.
12    (Source: P.A. 93-205 (Sections 890-10, 890-34,  and  890-43),
13    eff. 1-1-04; revised 10-3-03.)

14        Section   25.  The Livestock Management Facilities Act is
15    amended by changing Section 17 as follows:

16        (510 ILCS 77/17)
17        Sec. 17.  Financial responsibility.   Owners  of  new  or
18    modified  lagoons registered under the provisions of this Act
19    shall  establish   and   maintain   evidence   of   financial
20    responsibility  to provide for the closure of the lagoons and
21    the  proper  disposal  of  their  contents  within  the  time
22    provisions outlined in this  Act.   Financial  responsibility
23    may be evidenced by any combination of the following:
24             (1)  Commercial or private insurance;
25             (2)  Guarantee;
26             (3)  Surety bond;
27             (4)  Letter of credit;
28             (5)  Certificate  of  Deposit  or designated savings
29        account;
30             (6)  Participation  in  a  livestock  waste   lagoon
31        closure  fund  managed  by  the Illinois Farm Development
32        Finance Authority.
 
                            -32-     LRB093 03187 SJM 19846 a
 1        The level of surety required shall be determined by  rule
 2    and  be  based  upon  the  volumetric capacity of the lagoon.
 3    Surety instruments  required  under  this  Section  shall  be
 4    required  after  the  effective date of rules adopted for the
 5    implementation of this Act.
 6    (Source: P.A. 93-205, eff. 1-1-04.)

 7        Section  30.  The Illinois Forestry  Development  Act  is
 8    amended by changing Section 4 and 6a as follows:

 9        (525 ILCS 15/4) (from Ch. 96 1/2, par. 9104)
10        Sec. 4. The Department shall:
11        (a)  Implement   the   forestry  development  cost  share
12    program created by Section 5 of this Act and coordinate  with
13    the   United   States   Department   of  Agriculture  -  Soil
14    Conservation Service and the Agricultural  Stabilization  and
15    Conservation Service in the administration of such program.
16        (b)  Approve  acceptable  forestry  management  plans  as
17    required by Section 5 of this Act.
18        (c)  Provide   assistance  to  the  Illinois  Council  on
19    Forestry Development.
20        (d)  Promote  the  development  of  an  active   forestry
21    industry  in  this  State  by providing information to timber
22    growers  relating   to   acceptable   management   practices,
23    suitability of various kinds of timber to various land types,
24    marketability  of  various types of timber, market strategies
25    including marketing cooperatives, availability of  State  and
26    federal  government  assistance,  soil and water conservation
27    benefits, and wildlife habitat enhancement opportunities.
28        (e)  Provide any aid  or  information  requested  by  the
29    Illinois  Farm  Development  Finance Authority in relation to
30    forestry industry assistance programs implemented  under  the
31    Illinois Farm Development Finance Authority Act.
32    (Source: P.A. 93-205, eff. 1-1-04.)
 
                            -33-     LRB093 03187 SJM 19846 a
 1        (525 ILCS 15/6a) (from Ch. 96 1/2, par. 9106a)
 2        (Section scheduled to be repealed on December 31, 2008)
 3        Sec. 6a. Illinois Forestry Development Council.
 4        (a)  The  Illinois Forestry Development Council is hereby
 5    re-created  by  this  amendatory  Act  of  the  91st  General
 6    Assembly.
 7        (b)  The Council shall consist of 24 members appointed as
 8    follows:
 9             (1)  four  members  of  the  General  Assembly,  one
10        appointed by the President of the Senate,  one  appointed
11        by  the  Senate  Minority  Leader,  one  appointed by the
12        Speaker  of  the  House  of  Representatives,   and   one
13        appointed by the House Minority Leader;
14             (2)  one   member   appointed  by  the  Governor  to
15        represent the Governor;
16             (3)  the Directors of  the  Departments  of  Natural
17        Resources,   Agriculture,   and  Commerce  and  Community
18        Affairs, the Executive  Director  of  the  Illinois  Farm
19        Development  Finance  Authority,  and the Director of the
20        Office of Rural Affairs, or their designees;
21             (4)  the chairman of the Department of Forestry or a
22        forestry  academician,   appointed   by   the   Dean   of
23        Agriculture    at   Southern   Illinois   University   at
24        Carbondale;
25             (5)  the head of the Department of Natural Resources
26        and Environmental Sciences  or  a  forestry  academician,
27        appointed by the Dean of Agriculture at the University of
28        Illinois;
29             (6)  two  members,  appointed  by  the Governor, who
30        shall be private timber growers;
31             (7)  one member, appointed by the president  of  the
32        Illinois Wood Products Association, who shall be involved
33        in primary forestry industry;
34             (8)  one  member,  appointed by the president of the
 
                            -34-     LRB093 03187 SJM 19846 a
 1        Illinois Wood Products Association, who shall be involved
 2        in secondary forestry industry;
 3             (9)  one  member  who  is   actively   involved   in
 4        environmental issues, appointed by the Governor;
 5             (10)  the  president  of the Association of Illinois
 6        Soil and Water Conservation Districts;
 7             (11)  two  persons  who  are  actively  engaged   in
 8        farming, appointed by the Governor;
 9             (12)  one  member,  appointed by the Governor, whose
10        primary area of expertise is urban forestry;
11             (13)  one member appointed by the President  of  the
12        Illinois Arborists Association;
13             (14)  the  Supervisor of the Shawnee National Forest
14        and the United States Department of  Agriculture  Natural
15        Resource Conservation Service's State Conservationist, ex
16        officio, or their designees.
17        (c)  Members   of   the   Council   shall  serve  without
18    compensation but shall  be  reimbursed  for  actual  expenses
19    incurred  in  the  performance  of their duties which are not
20    otherwise reimbursed.
21        (d)  The Council  shall  select  from  its  membership  a
22    chairperson   and   such   other  officers  as  it  considers
23    necessary.
24        (e)  Other individuals, agencies and organizations may be
25    invited to participate as deemed advisable by the Council.
26        (f)  The Council shall study and  evaluate  the  forestry
27    resources  and  forestry  industry  of Illinois.  The Council
28    shall:
29             (1)  determine the magnitude, nature and  extent  of
30        the State's forestry resources;
31             (2)  determine   current  uses  and  project  future
32        demand for forest  products,  services  and  benefits  in
33        Illinois;
34             (3)  determine    and    evaluate    the   ownership
 
                            -35-     LRB093 03187 SJM 19846 a
 1        characteristics of the State's forests, the  motives  for
 2        forest  ownership and the success of incentives necessary
 3        to stimulate development of forest resources;
 4             (4)  determine   the   economic   development    and
 5        management   opportunities   that   could   result   from
 6        improvements   in   local  and  regional  forest  product
 7        marketing and from the establishment of new or additional
 8        wood-related businesses in Illinois;
 9             (5)  confer  with  and  offer  assistance   to   the
10        Illinois  Farm  Development Finance Authority relating to
11        its implementation of forest industry assistance programs
12        authorized  by  the  Illinois  Farm  Development  Finance
13        Authority Act;
14             (6)  determine  the  opportunities  for   increasing
15        employment  and  economic  growth  through development of
16        forest resources;
17             (7)  determine the effect  of  current  governmental
18        policies  and  regulations on the management of woodlands
19        and the location of wood products markets;
20             (8)  determine the staffing and  funding  needs  for
21        forestry  and  other conservation programs to support and
22        enhance forest resources development;
23             (9)  determine  the  needs  of  forestry   education
24        programs in this State;
25             (10)  confer   with  and  offer  assistance  to  the
26        Department  of  Natural   Resources   relating   to   the
27        implementation   of   urban  forestry  assistance  grants
28        pursuant to the Urban and Community  Forestry  Assistance
29        Act; and
30             (11)  determine soil and water conservation benefits
31        and  wildlife  habitat enhancement opportunities that can
32        be promoted through approved forestry management plans.
33        (g)  The  Council  shall  report  (i)  its  findings  and
34    recommendations  for  future  State  action  and   (ii)   its
 
                            -36-     LRB093 03187 SJM 19846 a
 1    evaluation  of  Urban/Community Forestry Assistance Grants to
 2    the General Assembly no later than July 1 of each year.
 3        (h)  This Section 6a is repealed December 31, 2008.
 4    (Source: P.A. 93-205, eff. 1-1-04.)

 5        Section 95.  No acceleration or delay.   Where  this  Act
 6    makes changes in a statute that is represented in this Act by
 7    text  that  is not yet or no longer in effect (for example, a
 8    Section represented by multiple versions), the  use  of  that
 9    text  does  not  accelerate or delay the taking effect of (i)
10    the changes made by this Act or (ii) provisions derived  from
11    any other Public Act.

12        Section  99.   Effective  date.  This Act takes effect on
13    December 31, 2003.".