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
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status