Illinois General Assembly - Full Text of SB0226
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Full Text of SB0226  93rd General Assembly

SB0226sam001 93rd General Assembly



                                     LRB093 02039 SJM 13052 a

 1                    AMENDMENT TO SENATE BILL 226

 2        AMENDMENT NO.     .  Amend Senate Bill 226,  on  page  1,
 3    line 8, after "is", by inserting "more than 60 days"; and

 4    on  page  1,  line  17,  after  the  period, by inserting the
 5    following:
 6    "The vendor's debt service costs can be no greater  than  the
 7    prime  rate less any interest penalties the State is required
 8    to make to the vendor under other provisions of this Act. For
 9    purposes of this Section, "prime rate" means the  prime  rate
10    as  from  time  to  time is publicly announced by the largest
11    commercial banking institution in  this  State,  measured  in
12    terms of total assets.".