IllinoisSB1776104th General Assembly (2025–2026)Senate

FINANCE-YOUNG FARMER

Sponsored By: Michael W. Halpin (Democratic)

In Committee

Summary

Amends the Illinois Finance Authority Act. In provisions concerning the Young Farmer Loan Guarantee Program, provides that State Guarantees under the program shall not exceed $1,000,000 (currently $500,000) per young farmer. Provides that the Illinois Finance Authority is authorized to issue State Guarantees to lenders for loans to finance or refinance tuition debt incurred by or on behalf of an eligible farmer for post-secondary education in an agriculture field. Provides that the Illinois Finance Authority may use moneys under the Working Capital Loan Guarantee Program to finance rental payments for land leased to the farmer. Provides that State Guarantees provided under the Working Capital Loan Guarantee Program may not exceed $500,000 per borrower. Effective immediately

assignments

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Michael W. Halpin

    Democratic • Senate

Cosponsors

  • Doris Turner

    Democratic • Senate

  • Paul Faraci

    Democratic • Senate

  • Sally J. Turner

    Republican • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added as Chief Co-Sponsor Sen. Sally J. Turner

    5/19/2026Senate
  2. Added as Chief Co-Sponsor Sen. Paul Faraci

    2/26/2025Senate
  3. Added as Chief Co-Sponsor Sen. Doris Turner

    2/6/2025Senate
  4. Referred to Assignments

    2/6/2025Senate
  5. First Reading

    2/6/2025Senate
  6. Filed with Secretary by Sen. Michael W. Halpin

    2/6/2025Senate

Bill Text

Related Bills

Back to State Legislation