Illinois General Assembly - Bill Status for HB2702

Synopsis As Introduced
Amends the Illinois Finance Authority Act. In Sections concerning State guarantees for loans to farmers, provides that the total amount of the guarantees shall not exceed $2,000,000 per farmer (instead of $500,000). Provides that guarantees may be made if the farmer's net worth does not exceed $2,000,000 (instead of $500,000). In a Section concerning guarantees for existing debt, provides that the Illinois Agricultural Loan Guarantee Fund shall guarantee receipt of payment of 90% (instead of 85%) of the principal and interest owed on the State Guarantee Loan by the farmer to the guarantee holder. Effective immediately.

Actions

Date	Chamber	Action
2/19/2015	House	Filed with the Clerk by Rep. C.D. Davidsmeyer
2/20/2015	House	First Reading
2/20/2015	House	Referred to Rules Committee
3/2/2015	House	Assigned to Executive Committee
3/27/2015	House	Rule 19(a) / Re-referred to Rules Committee
1/10/2017	House	Session Sine Die

×