Illinois General Assembly - Bill Status for HB4379
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 Bill Status of HB4379  94th General Assembly


House Sponsors
Rep. Carolyn H. Krause and Kurt M. Granberg

Last Action
DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 3501/825-85 new
30 ILCS 105/5.663 new

Synopsis As Introduced
Requires the Illinois Finance Authority to establish and maintain a program to offer low-interest loans to businesses seeking greater broadband Internet access. Provides that these loans may be used to purchase any broadband infrastructure that is required to provide high-speed Internet access. Provides that the moneys for loans shall be maintained in and paid out of the Broadband Internet Access Revolving Loan Fund, a special fund established in the State treasury. Provides that no business may receive an aggregate amount of more than $250,000 in loans and that all loans must be repaid within 5 years. Requires the Authority to adopt necessary rules. Authorizes the Authority to require a lien or other security as a condition for making a loan under the program. Amends the State Finance Act to create the Broadband Internet Access Revolving Loan Fund. Effective immediately.

DateChamber Action
  1/4/2006HouseFiled with the Clerk by Rep. Carolyn H. Krause
  1/4/2006HouseFirst Reading
  1/4/2006HouseReferred to Rules Committee
  2/22/2006HouseAdded Co-Sponsor Rep. Kurt M. Granberg
  1/9/2007HouseSession Sine Die

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