SB2861 93RD GENERAL ASSEMBLY

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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2861

Introduced 2/6/2004, by Patrick Welch

SYNOPSIS AS INTRODUCED:

20 ILCS 3501/845-90 new

Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority must maintain the level of bond funding for all functions and programs that were operated under the Illinois Farm Development Act and the Rural Bond Bank Act that existed before the Illinois Finance Authority assumed the rights, powers, and duties of the Illinois Farm Development Authority and the Rural Bond Bank. Effective immediately.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning finance.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Finance Authority Act is amended by adding Section 845-90 as follows:

(20 ILCS 3501/845-90 new)

Sec. 845-90. Amounts of Illinois Farm Development and Rural Bond Bank program funding. The Illinois Finance Authority must, at a minimum, maintain the level of bond funding for all functions and programs that were operated under the Illinois Farm Development Act and the Rural Bond Bank Act that existed before the effective date of Public Act 93-205.

Section 99. Effective date. This Act takes effect upon becoming law.