Senate Sponsors: OBAMA. Short description: IDFA-MINORITY FEMALE BUS LOANS Synopsis of Bill as introduced: Amends the Illinois Development Finance Authority Act. Increases amount of bonds that the Authority may have outstanding from $2,900,000,000 to $2,950,000,000. Provides that the additional $50,000,000 shall be used to fund start up and expansion loans for businesses that qualify under the Business Enterprise for Minorities, Females, and Persons with Disabilities Act. Provides that the Authority shall work with the Business Enterprise Council for Minorities, Females, and Persons with Disabilities in developing a program to distribute and administer the loans. Provides that no loan issued under the program may fund more than 25% of the start up or expansion costs incurred by the qualifying business enterprise. Amends the Business Enterprise for Minorities, Females, and Persons with Disabilities Act to include in the list of responsibilities and authorities of the Council the cooperation with the Illinois Development Finance Authority in development and administration of the start up and expansion loan program. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status