LANG-CURRY,JULIE-SCULLY-FANTIN-SCOTT AND GIGLIO.
STATE LOAN ACT
Synopsis of Bill as introduced:
Creates the State Loan Act and amends the Uncollected State
Claims Act and the Illinois State Collection Act of 1986. Provides
that before any State loan may be made or renewed to any person the
name of the person must be made public. Provides that the person must
personally guarantee repayment of the loan. Prohibits certain
contracts with a person who is in default on any State loan. Provides
that all contributions made by the person in the past 5 years must be
disclosed. Provides that the Attorney General shall investigate any
default on a State loan. Provides that the provisions of the
Uncollected State Claims Act and the Illinois State Collection Act of
1986 must be met before any renegotiation or forgiveness of a State
loan. Provides that the Attorney General shall report to the General
Assembly certain information regarding State loans.
FISCAL NOTE (Comptroller)
Primary cost would be for establishment and operation of the
central repository, an estimated $175,000 annually. A dedicated
PC or network server with data base software would be $9,000.
It has been determined that the bill would neither decrease nor
increase the need for the number of judges in the State.
STATE MANDATES FISCAL NOTE
In the opinion of DCCA, HB959 fails to create a State mandate.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status