Synopsis As Introduced Amends the Illinois Finance Authority Act concerning agricultural assistance. Authorizes the Authority to insure and make advance commitments to insure payments on bonds issued for agricultural assistance. Authorizes the Authority to issue State Guarantees to lenders for working capital loans to finance planting and raising agricultural commodities. Sets forth eligibility, application, and renewal requirements. Establishes fees and loan limits. Contains other provisions. Effective immediately.
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Further amends the Illinois Finance Authority Act. Authorizes the use of the Industrial Project Insurance Fund, the Illinois Agricultural Loan Fund, and the Illinois Former and Agribusiness Loan Guarantee Fund to satisfy State Guarantees for agricultural assistance. Makes related changes. Effective immediately.