State of Illinois
92nd General Assembly

   [ Search ]   [ PDF text ]   [ Legislation ]   
[ Home ]   [ Back ]   [ Bottom ]

[ Introduced ][ House Amendment 002 ]


SB2192 Engrossed                               LRB9212302BDdv

 1        AN ACT concerning commercial development.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The  Department  of  Commerce  and  Community
 5    Affairs  Law  of the Civil Administrative Code of Illinois is
 6    amended  by  changing  Sections  605-65,  605-525,   605-900,
 7    605-905, 605-910, and 605-915 as follows:

 8        (20 ILCS 605/605-65) (was 20 ILCS 605/46.52)
 9        Sec.  605-65.  Grants  under  Gang Control Grant Act. The
10    Department may To award grants to community-based groups,  as
11    defined in the Gang Control Grant Act.
12    (Source: P.A. 91-239, eff. 1-1-00.)

13        (20 ILCS 605/605-525) (was 20 ILCS 605/46.55)
14        Sec.  605-525.  Minority Controlled and Female Controlled
15    Business Loan Board.  There  is  hereby  created  a  Minority
16    Controlled  and  Female  Controlled  Businesses  Loan  Board,
17    hereinafter referred to as the Board, consisting of 6 members
18    appointed  by the Governor with the advice and consent of the
19    Senate.  No  more  than  3  members  shall  be  of  the  same
20    political  party.  For the initial appointments to the Board,
21    3 members shall be appointed to serve a 2  year  term  and  3
22    members  shall be appointed to serve a 4 year term. Successor
23    members shall serve for terms of 4 years.
24        The Board may shall maintain an office  in  each  of  the
25    following areas: Alexander or Pulaski County, East St. Louis,
26    and  the  City  of  Chicago. For the purpose of this Act, the
27    terms "minority person", "female", "minority owned  business"
28    and  "female  owned  business"  shall have the definitions of
29    those terms provided in Section 2 of the Business  Enterprise
30    for Minorities, Females, and Persons with Disabilities Act.
SB2192 Engrossed            -2-                LRB9212302BDdv
 1        The  Board  may  shall  have the authority to make direct
 2    grants  and  low  interest  loans  to   minority   controlled
 3    businesses  and  female  controlled  businesses  in  East St.
 4    Louis, the City of Chicago, and either  Alexander  County  or
 5    Pulaski  County  from  appropriations for that purpose to the
 6    Department.  The  Board  may  shall  establish  and   publish
 7    guidelines to be followed in making the grants and loans.
 8        Grant  funds  may will be allowed to reimburse businesses
 9    for expenses incurred in the preparation  of  proposals  that
10    are   accepted   for   loan   assistance   and   to  maintain
11    administering offices in each of the  4  target  areas.  Loan
12    funds  may  will  be awarded at a cost of no more than 3% per
13    annum for up to 20 years to businesses that are  existing  or
14    proposed.
15    (Source: P.A. 91-239, eff. 1-1-00.)

16        (20 ILCS 605/605-900) (was 20 ILCS 605/46.6b)
17        Sec. 605-900. Construction loans to local governments for
18    revenue  producing capital facilities.  The Department may To
19    make loans to units of local government for  construction  of
20    revenue  producing  capital  facilities, subject to the terms
21    and conditions it deems necessary to ensure repayment.
22    (Source: P.A. 91-239, eff. 1-1-00.)

23        (20 ILCS 605/605-905) (was 20 ILCS 605/46.41b)
24        Sec. 605-905. Grants to local governments  in  connection
25    with  federal  prisons.  The Department may To make grants to
26    units of local government for (i) land  acquisition  and  all
27    necessary  improvements  upon  or  related  thereto  for  the
28    purpose  of  facilitating  the location of federal prisons in
29    Illinois and  (ii)  for  the  development  of  industrial  or
30    commercial  parks,  or both, that are adjacent to or abut any
31    federal prison constructed in Illinois after January 9,  1990
32    (the effective date of Public Act 86-1017).
SB2192 Engrossed            -3-                LRB9212302BDdv
 1    (Source: P.A. 91-239, eff. 1-1-00.)

 2        (20 ILCS 605/605-910) (was 20 ILCS 605/46.56)
 3        Sec.   605-910.   Grants   to   municipalities  for  site
 4    development  along  waterways.  In   cooperation   with   the
 5    Department  of  Transportation,  the  Department  may to make
 6    grants and provide financial assistance to municipalities for
 7    site  development  along  waterways  in  order   to   promote
 8    commercial and industrial development.
 9    (Source: P.A. 91-239, eff. 1-1-00.)

10        (20 ILCS 605/605-915) (was 20 ILCS 605/46.45)
11        Sec.  605-915.  Assisting  local  governments  to achieve
12    lower borrowing costs.  The Department may To cooperate  with
13    the Illinois Development Finance Authority in assisting local
14    governments to achieve overall lower borrowing costs and more
15    favorable  terms  under  Sections  7.50  through  7.61 of the
16    Illinois Development Finance Authority Act,  including  using
17    the   Department's  federally  funded  Community  Development
18    Assistance Program for those purposes.
19    (Source: P.A. 91-239, eff. 1-1-00.)

20        Section 10.  The Rural Diversification Act is amended  by
21    changing Sections 4 and 5 as follows:

22        (20 ILCS 690/4) (from Ch. 5, par. 2254)
23        Sec.  4.   Powers  of  the  Office.   The  Office has the
24    following powers, in addition to those granted to it by other
25    law, which it may exercise at the discretion of the  Director
26    of Commerce and Community Affairs:
27        (a)  To  provide  financing pursuant to the provisions of
28    this Act, from appropriations made by  the  General  Assembly
29    from  the  General Revenue Fund, Federal trust funds, and the
30    Rural Diversification Revolving Fund created herein, to or on
SB2192 Engrossed            -4-                LRB9212302BDdv
 1    behalf of rural business and agribusiness  to  promote  rural
 2    diversification.
 3        (b)  To provide financing in the form of direct loans and
 4    grants from State funds for qualifying agricultural and rural
 5    diversification  projects  independent  of  federal financial
 6    participation, except that no grants from State  funds  shall
 7    be made directly with a rural business.
 8        (c)  To  provide  financing  in the form of direct loans,
 9    grants, and technical assistance contracts from  State  funds
10    for   qualifying   agricultural   and  rural  diversification
11    projects in coordination with federal financial participation
12    in the form of loan guarantees, direct loans, and  grant  and
13    technical assistance contract reimbursements.
14        (d)  To  consider  in the award of State funded financing
15    the satisfaction of  matching  requirements  associated  with
16    federal  financing  participation  and  the  maximization  of
17    federal  financing  participation to the benefit of the rural
18    Illinois economy.
19        (e)  To enter into agreements or contracts, accept  funds
20    or  grants,  and  cooperate  with  agencies  of  the  Federal
21    Government, State or Local Governments, the private sector or
22    non-profit  organizations  to  carry out the purposes of this
23    Act;
24        (f)  To  enter  into  agreements  or  contracts  for  the
25    promotion, application origination,  analysis or servicing of
26    the financings made by the Office pursuant to this Act;
27        (g)  To receive and  accept,  from  any  source,  aid  or
28    contributions of money, property or labor for the furtherance
29    of  this  Act  and  collect  fees, charges or advances as the
30    Department may determine in connection with its financing;
31        (h)  To establish application, notification, contract and
32    other  procedures  and  other  procedures  and  rules  deemed
33    necessary and appropriate by the  Office  to  carry  out  the
34    provisions of this Act;
SB2192 Engrossed            -5-                LRB9212302BDdv
 1        (i)  To  foreclose  any  mortgage,  deed  of trust, note,
 2    debenture, bond or other security interest held by the Office
 3    and to take all such actions as may be necessary  to  enforce
 4    any obligation held by the Office;
 5        (j)  To   analyze   opportunities   and  needs  of  rural
 6    communities, primarily those  communities  experiencing  farm
 7    worker   distress   including   consultation   with  regional
 8    commissions, governments, or  diversification  organizations,
 9    and  work to strengthen the coordination of existing programs
10    offered through the Office, the  Department  of  Agriculture,
11    the  Department  of  Natural  Resources,  the  Illinois  Farm
12    Development  Authority, the Cooperative Extension Service and
13    others for rural and agribusiness development and assistance;
14    and
15        (k)  To cooperate with an existing committee comprised of
16    representatives from the Office, the Rural Affairs Council or
17    its successor, the Department of  Agriculture,  the  Illinois
18    Farm   Development   Authority   and   others  to  coordinate
19    departmental  policies  with  other  State  agencies  and  to
20    promote agricultural and rural diversification in the State.
21        (l)  To exercise such other right, powers and  duties  as
22    are necessary to fulfill the purposes of this Act.
23    (Source: P.A. 89-445, eff. 2-7-96.)

24        (20 ILCS 690/5) (from Ch. 5, par. 2255)
25        Sec.   5.    Agricultural   and   rural   diversification
26    financing.
27        (a)  The  Office  may provide Office's financing to or on
28    behalf of rural businesses or agribusinesses  in  the  State.
29    The  financing  shall  be for the purpose of assisting in the
30    cost  of  agricultural  and  rural  diversification  projects
31    including  (i)  acquisition,  construction,   reconstruction,
32    replacement, repair, rehabilitation, alteration, expansion or
33    extension  of  real  property,  buildings  or  machinery  and
SB2192 Engrossed            -6-                LRB9212302BDdv
 1    equipment  but not the acquisition of unimproved land for the
 2    production of crops or livestock; (ii) working capital  items
 3    including  but not limited to, inventory, accounts receivable
 4    and   prepaid   expenses;   (iii)   organizational   expenses
 5    including, but not limited to, architectural and  engineering
 6    costs,   legal   services,   marketing  analyses,  production
 7    analyses,  or  other  professional  services;   (iv)   needed
 8    leasehold   improvements,   easements,  and  other  amenities
 9    required  to  prepare  a  site;  (v)  information,  technical
10    support and technical assistance contracts to local officials
11    or  not-for-profit  agencies  regarding  private,  state  and
12    federal resources, programs  or  grant  assistances  and  the
13    needs  and  opportunities  for diversification; and (vi) when
14    conducted in cooperation with federal reimbursement programs,
15    financing costs including guarantee fees, packaging fees  and
16    origination fees but not debt refinancing.
17        (b)  Agricultural or rural diversification financing to a
18    rural  business  or agribusiness under this Act shall be used
19    only where it can be shown that  the  agricultural  or  rural
20    diversification  project  for which financing is being sought
21    has the potential to  achieve  commercial  success  and  will
22    increase  employment,  directly or indirectly retain jobs, or
23    promote local diversification.
24        (c)  The Office may shall establish  an  internal  review
25    committee  with the Director of the Rural Affairs Council, or
26    his designee, the Director of the Department of  Agriculture,
27    or  his  designee,  and  the  Director  of  the Illinois Farm
28    Development Authority, or his designee, as members to  assist
29    in the review of all project applications.
30        (d)  The  Office  shall  not provide financing to a rural
31    business or  agribusiness  unless  the  application  includes
32    convincing  evidence  that  a  specific agricultural or rural
33    diversification project is ready to occur and will only occur
34    if the financing is made.  The Office shall also consider the
SB2192 Engrossed            -7-                LRB9212302BDdv
 1    applicability of other state and federal  programs  prior  to
 2    financing any project.
 3    (Source: P.A. 85-180.)

 4        Section  15.   The  Local Government Debt Offering Act is
 5    amended by changing Section 3 as follows:

 6        (30 ILCS 375/3) (from Ch. 85, par. 843)
 7        Sec. 3. The Department may is authorized and directed  to
 8    provide  technical  and  advisory  assistance  regarding  the
 9    issuance  of  long-term debt to those local governments whose
10    governing bodies request such assistance. Such assistance may
11    shall include, but need not be limited to: (1) advice on  the
12    marketing  of bonds by local governments, (2) advisory review
13    of proposed  local  government  debt  issues,  including  the
14    rendering  of  opinions  as to their legality, (3) conduct of
15    training courses  in  debt  management  for  local  financial
16    officers, and (4) promotion of the use by local government of
17    such tools for sound financial management as adequate systems
18    of budgeting, accounting, auditing, and reporting.
19    (Source: P.A. 77-1504.)

20        Section  99.  Effective date.  This Act takes effect upon
21    becoming law.

[ Top ]