SMITH,MICHAEL-MITCHELL,BILL-BOLAND-TURNER,JOHN, LAWFER AND HANNIG. (NOLAND-SIEBEN) 20 ILCS 3605/7.2 20 ILCS 3605/12.1 from Ch. 5, par. 1212.1 20 ILCS 3605/12.2 from Ch. 5, par. 1212.2 20 ILCS 3605/12.6 new Amends the Illinois Farm Development Act. Creates the Interest Buy-Back Fund outside the State treasury to receive appropriations unexpended by the Farm Development Authority for the subsidizing of interest costs on farmers' loans. Authorizes the Authority to use the Fund for that same purpose. Requires the Authority to develop and administer a program of loans to Illinois entities for establishment and operation of facilities in Illinois that process, package, or otherwise enhance the value of Illinois farm products and by-products. Requires that a loan recipient provide a minimum percentage of matching funds. Specifies various limits on the amount of each loan and provides certain loan conditions. Establishes a special fund outside the State treasury for the funding of loans and the receipt of loan repayments. Allows the Authority to borrow from other of its funds while awaiting appropriations. Effective immediately. SENATE AMENDMENT NO. 1. Deletes reference to: 20 ILCS 3605/7.2 20 ILCS 3605/12.1 20 ILCS 3605/12.2 Adds reference to: 30 ILCS 105/5.542 new Further amends the Illinois Farm Development Act. Requires the Authority to administer and develop the value-added virtual equity program, subject to appropriations for that purpose. Removes provi- sions authorizing borrowing moneys from other funds for the Virtual Equity Fund. Changes the Virtual Equity Fund to a special fund within the State treasury and removes provisions authorizing retention of the Fund's interest. Requires the Authority to develop standards to eval- uate a project's total costs and requires the Authority to report annually to the General Assembly upon its activities. Repeals the value-added virtual equity loan program provisions on July 1, 2007. Amends the State Finace Act to create the special fund. 00-02-04 H FILED WITH CLERK 00-02-04 H FIRST READING 00-02-04 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-02-10 H ASSIGNED TO COMMITTEE AGRIC CONSERV 00-02-10 H MOTION PREVAILED TO SUSPEND RULE 25 00-02-10 H COMMITTEE AGRIC CONSERV 00-02-15 H DO PASS/SHORT DEBATE 014-000-001 HAGC 00-02-15 H PLACED CALENDAR 2ND READING-SHORT DEBATE 00-02-16 H ADDED AS A JOINT SPONSOR MITCHELL,BILL 00-02-16 H SECOND READING-SHORT DEBATE 00-02-16 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 00-02-16 H ADDED AS A JOINT SPONSOR BOLAND 00-02-23 H THIRD READING/SHORT DEBATE/PASSED 114-000-001 00-02-23 H ADDED AS A JOINT SPONSOR TURNER,JOHN 00-02-23 H ADDED AS A CO-SPONSOR FOWLER 00-02-23 H ADDED AS A CO-SPONSOR LAWFER 00-02-23 H ADDED AS A CO-SPONSOR HANNIG 00-02-24 S ARRIVE IN SENATE 00-02-24 S PLACED CALENDAR ORDER OF FIRST READING 00-02-25 00-02-25 S CHIEF SPONSOR NOLAND 00-02-25 S ADDED AS A CHIEF CO-SPONSOR SIEBEN 00-02-25 S FIRST READING 00-02-25 S REFERRED TO SENATE RULES COMMITTEE RULES 00-03-24 S ASSIGNED TO COMMITTEE EXECUTIVE 00-03-31 S AMENDMENT NO. 01-EXECUTIVE S 00-03-31 S ADOPTED 00-03-31 S DO PASS AS AMENDED 010-000-000 SEXC 00-03-31 S PLACED ON CALENDAR ORDER OF 2ND READING 00-04-04 00-04-06 S FILED WITH SECRETARY 00-04-06 S AMENDMENT NO. 02-NOLAND 00-04-06 S AMENDMENT REFERRED TO SRUL 00-04-06 S SECOND READING 00-04-06 S PLACED ON CALENDAR ORDER OF 3RD READING 00-04-07 00-05-16 S REFER TO RULES/PURSUANT SEN RULE 3-9 (B) RULES SRUL 00-05-16 S TABLED PURSUANT TO RULE 5-4(A) SA 02 00-05-16 S COMMITTEE RULES 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary