Full Text of SB1779 98th General Assembly
SB1779sam002 98TH GENERAL ASSEMBLY | Sen. Donne E. Trotter Filed: 4/9/2013
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| 1 | | AMENDMENT TO SENATE BILL 1779
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1779 on page 21, | 3 | | line 19, by changing " with " to " within "; and
| 4 | | on page 27, line 26, by changing "amended," to "amended, except | 5 | | as permitted under said Section 146, "; and | 6 | | by replacing line 14 on page 43 through line 23 on page 44 with | 7 | | the following: | 8 | | "(20 ILCS 3515/7.5 new) | 9 | | Sec. 7.5. Required findings for environmental facilities | 10 | | located outside the State. The State authority may approve an | 11 | | application to finance or refinance environmental facilities | 12 | | located outside of the State only after it has made either of | 13 | | the following findings with respect to such financing or | 14 | | refinancing, all of which shall be deemed conclusive: | 15 | | (1) that all of the following conditions exist: |
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| 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 |
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| 1 | | refinancing for any project, or portion thereof, located | 2 | | outside the boundaries of the United States of America. | 3 | | Notwithstanding any other provision of this Act, the | 4 | | Authority shall not provide financing or refinancing that uses | 5 | | State volume cap under Section 146 of the Internal Revenue Code | 6 | | of 1986, as amended, except as permitted under said Section | 7 | | 146, or constitutes an indebtedness or obligation, general or | 8 | | moral, or a pledge of the full faith or loan of credit of the | 9 | | State for any project, or portion thereof, that is located | 10 | | outside of the State. ".
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