90th General Assembly
Summary of HB0940
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House Sponsors:

Senate Sponsors:

Short description: 
ED LOAN PURCHASE PROGRAM BONDS                                             

Synopsis of Bill as introduced:
        Amends the Higher Education Student Assistance Act.  Increases to      
   $2,100,000,000 (from $1,150,000,000) the aggregate principal amount of      
   bonds (other than refunding bonds)  issued  by  the  Illinois  Student      
   Assistance  Commission  under  the Education Loan Purchase Program Law      
   that may be outstanding at any one time.  Effective immediately.            
          STATE DEBT IMPACT NOTE                                               
          HB940 would increase bonding authority of the Ill. Student           
          Assistance Commission by $950.0 M; and may increase State debt       
          if ISAC has insufficient funds to repay the debt.                    
          FISCAL NOTE (Ill. Student Assistance Commission)                     
          HB940 has no fiscal impact upon State revenues.                      
          STATE MANDATES FISCAL NOTE                                           
          HB 940 fails to create a State mandate.                              
Last action on Bill: PUBLIC ACT.............................. 90-0281

   Last action date: 97-07-31

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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