Illinois General Assembly - Full Text of SB1779
Illinois General Assembly

Previous General Assemblies

Full Text of SB1779  98th General Assembly


Sen. Donne E. Trotter

Filed: 3/19/2013





09800SB1779sam001LRB098 10232 HLH 43248 a


2    AMENDMENT NO. ______. Amend Senate Bill 1779 on page 21,
3line 19, by changing "with" to "within"; and
4on page 27, line 26, by changing "amended," to "amended, except
5as permitted under said Section 146,"; and
6by replacing line 14 on page 43 through line 23 on page 44 with
7the following:
8    "(20 ILCS 3515/7.5 new)
9    Sec. 7.5. Required findings for environmental facilities
10located outside the State. The State authority may approve an
11application to finance or refinance environmental facilities
12located outside of the State only after it has made either of
13the following findings with respect to such financing or
14refinancing, all of which shall be deemed conclusive:
15        (1) the all of the conditions exist:



09800SB1779sam001- 2 -LRB098 10232 HLH 43248 a

1            (A) the entity financing or refinancing an
2        environmental facility located outside the State, or
3        an affiliate thereof, is also engaged in the financing
4        or refinancing of an environmental facility located
5        within the State or, alternately, the entity seeking
6        the financing or refinancing, or an affiliate thereof,
7        maintains a significant presence within the State;
8            (B) financing or refinancing the out-of-state
9        environmental facility would promote the interests of
10        the State for the benefit of the health, welfare,
11        safety, trade, commerce, industry, and economy of the
12        people of the State by reducing, controlling, or
13        preventing environmental damage and pollution within
14        the State or lowering the cost of environmental
15        facilities within the State by reducing the cost of
16        financing, refinancing, or operating environmental
17        facilities; and
18            (C) after giving effect to the financing or
19        refinancing of the out-of-state environmental
20        facility, the State authority shall have the ability to
21        issue at least an additional $250,000,000 in bonds
22        under Section 9 of this Act; or
23        (2) that financing or refinancing the out-of-state
24    environmental facility will substantially reduce, control,
25    or prevent environmental damage within the State.
26    The State authority shall not provide financing or



09800SB1779sam001- 3 -LRB098 10232 HLH 43248 a

1refinancing for any project, or portion thereof, located
2outside the boundaries of the United States of America.
3    Notwithstanding any other provision of this Act, the
4Authority shall not provide financing or refinancing that uses
5State volume cap under Section 146 of the Internal Revenue Code
6of 1986, as amended, except as permitted under said Section
7146, or constitutes an indebtedness or obligation, general or
8moral, or a pledge of the full faith or loan of credit of the
9State for any project, or portion thereof, that is located
10outside of the State.".