Chapter 20 — EXECUTIVE BRANCH

(20 ILCS 3501/825-75) Sec. 825-75. Additional Security. In the event that the Authority determines that monies of the Authority will not be sufficient for the payment of the principal of and interest on any bonds issued by the Authority under Sections 825-65 through 825-75 of thi…

(20 ILCS 3501/825-80) Sec. 825-80. Fire truck revolving loan program. (a) This Section is a continuation and re-enactment of the fire truck revolving loan program enacted as Section 3-27 of the Rural Bond Bank Act by Public Act 93-35, effective June 24, 2003, and repealed by Publ…

(20 ILCS 3501/825-81) Sec. 825-81. Fire station revolving loan program. (a) The Authority and the State Fire Marshal may jointly administer a fire station revolving loan program. The program shall, in instances where sufficient loan funds exist to permit applications to be accept…

(20 ILCS 3501/825-85) Sec. 825-85. Ambulance revolving loan program. (a) The Authority and the State Fire Marshal may jointly administer an ambulance revolving loan program. The program shall, in instances where sufficient loan funds exist to permit applications to be accepted, p…

(20 ILCS 3501/825-87) Sec. 825-87. Public life safety capital investment finance program. (a) In addition to the powers set forth in Sections 825-80, 825-81, and 825-85 of this Act and in furtherance of the purposes and programs set forth in those Sections, the Authority may use …

(20 ILCS 3501/825-90) Sec. 825-90. Illinois Power Agency Bonds. (a) In this Section: "Agency" means the Illinois Power Agency. "Agency loan agreement" means any agreement pursuant to which the Illinois Finance Authority agrees to loan the proceeds of its revenue bonds issued with…

(20 ILCS 3501/825-95) Sec. 825-95. Emerald ash borer revolving loan program. (a) The Illinois Finance Authority may administer an emerald ash borer revolving loan program. The program shall provide low-interest or zero-interest loans to units of local government for the treatment…

(20 ILCS 3501/830-10) Sec. 830-10. (a) The Authority may establish a Farm Debt Relief Program to help provide eligible Illinois farmers with State assistance in meeting their farming-related debts. (b) To be eligible for the program, a person must (1) be actively engaged in farmi…

(20 ILCS 3501/830-15) Sec. 830-15. Interest-buy-back program. (a) The Authority may establish an interest-buy-back program to subsidize the interest cost on certain loans to Illinois farmers. (b) To be eligible an applicant must (i) be a resident of Illinois; (ii) be a principal …

(20 ILCS 3501/830-20) Sec. 830-20. The Authority may not pass a resolution authorizing the issuance of any notes or bonds in excess of $450,000 for any one agricultural real estate borrower. In any calendar year after 2007, the $450,000 amount shall be increased by an amount equa…

(20 ILCS 3501/830-25) Sec. 830-25. Bonded indebtedness limitation. The Authority shall not have outstanding at any one time State Guarantees under Section 830-30 in an aggregate principal amount exceeding $160,000,000. The Authority shall not have outstanding at any one time Stat…

(20 ILCS 3501/830-30) Sec. 830-30. State Guarantees for existing debt. (a) The Authority is authorized to issue State Guarantees for farmers' existing debts held by a lender. For the purposes of this Section, a farmer shall be a resident of Illinois, who is a principal operator o…

(20 ILCS 3501/830-35) Sec. 830-35. State Guarantees for loans to farmers and agribusiness; eligibility. (a) The Authority is authorized to issue State Guarantees to lenders for loans to eligible farmers and agribusinesses for purposes set forth in this Section. For purposes of th…

(20 ILCS 3501/830-40) Sec. 830-40. Cooperative agreement with the University of Illinois. (a) The Authority may enter into a cooperative agreement with the University of Illinois whereby the University's College of Agriculture, or a department thereof, shall assess and evaluate t…

(20 ILCS 3501/830-45) Sec. 830-45. Young Farmer Loan Guarantee Program. (a) The Authority is authorized to issue State Guarantees to lenders for loans to finance or refinance debts of young farmers. For the purposes of this Section, a young farmer is a resident of Illinois who is…

(20 ILCS 3501/830-5) Sec. 830-5. The Authority shall have the following powers: (a) To loan its funds to one or more persons to be used by such persons to pay the costs of acquiring, constructing, reconstructing or improving Agricultural Facilities, soil or water conservation pro…

(20 ILCS 3501/830-50) Sec. 830-50. Specialized Livestock Guarantee Program. (a) The Authority is authorized to issue State Guarantees to lenders for loans to finance or refinance debts for specialized livestock operations that are or will be located in Illinois. For purposes of t…

(20 ILCS 3501/830-55) Sec. 830-55. Working Capital Loan Guarantee Program. (a) The Authority is authorized to issue State Guarantees to lenders for loans to finance needed input costs related to and in connection with planting and raising agricultural crops and commodities in Ill…

(20 ILCS 3501/835-10) Sec. 835-10. Definitions. As used or referred to in this Article 835, the following words and terms shall have the following meanings, except where the context clearly requires otherwise: "Fund" means one or more of the Industrial Project Insurance Fund, the…

(20 ILCS 3501/835-15) Sec. 835-15. Powers and duties. The Authority may enter into a State Guarantee with a lender, or a person holding a note, of a loan or loans to a qualified veteran-owned small business and may make payment, in whole or in part, on a State Guarantee from any …

(20 ILCS 3501/835-20) Sec. 835-20. State Guarantees for loans to qualified veteran-owned small businesses. (a) The Authority is authorized to issue State Guarantees to lenders for loans to qualified veteran-owned small businesses for the general corporate purposes of those qualif…

(20 ILCS 3501/835-25) Sec. 835-25. (Repealed). (Source: P.A. 99-509, eff. 6-24-16. Repealed internally, eff. 8-1-19.)

(20 ILCS 3501/835-5) Sec. 835-5. Legislative findings. The General Assembly hereby finds and declares the following: (i) that there is an inadequate supply of funds available in this State at rates sufficiently low to enable veterans to own and operate small businesses successful…

(20 ILCS 3501/840-10) Sec. 840-10. By means of this Act it is the intent of the General Assembly to provide a measure of assistance and alternative methods of financing to participating health institutions to aid them in providing needed health facilities that will assure admissi…

(20 ILCS 3501/840-15) Sec. 840-15. The Authority is authorized and empowered to acquire, directly or by and through a participating health institution as its agent, by purchase solely from funds provided under the authority of this Act, or by gift or legacy, such lands, structure…

(20 ILCS 3501/840-20) Sec. 840-20. It is the intent and purpose of this Act that the exercise by the Authority of the powers granted to it shall be in all respects for the benefit of the people of this State to assist them to provide needed health facilities of the number, size, …

(20 ILCS 3501/840-25) Sec. 840-25. The Authority shall fix, revise, charge and collect rents for the use of each health facility owned by the Authority and contract with any person, partnership, association or corporation, or other body, public or private, in respect thereof. Eac…

(20 ILCS 3501/840-30) Sec. 840-30. It is intended that all private health facilities in this State be enabled to benefit from and participate in the provisions of this Act. To this end, all private health facilities operating, or authorized to be operated, under any statute of th…

(20 ILCS 3501/840-5) Sec. 840-5. The Authority shall have the following powers: (a) To fix and revise from time to time and charge and collect rates, rents, fees and charges for the use of and for the services furnished or to be furnished by a project or other health facilities o…

(20 ILCS 3501/845-10) Sec. 845-10. The Authority may issue a single bond issue pursuant to this Act for a group of industrial projects, a group of corporations or a group of business entities, a group of units of local government or other borrowers or any combination thereof. A b…

(20 ILCS 3501/845-15) Sec. 845-15. The Authority may maintain an office or branch office anywhere in the State, and may utilize, without the payment of rent, any office facilities which the State may conveniently make available to it. (Source: P.A. 93-205, eff. 1-1-04.)

(20 ILCS 3501/845-20) Sec. 845-20. The Authority shall not have power to levy taxes for any purpose whatsoever. (Source: P.A. 93-205, eff. 1-1-04.)

(20 ILCS 3501/845-25) Sec. 845-25. The Authority shall not incur any obligations for salaries, office or other administrative expenses prior to the making of appropriations to meet such expenses. Interest earned from investments of any funds of the Authority and repayments of pri…

(20 ILCS 3501/845-30) Sec. 845-30. The State and all counties, cities, villages, incorporated towns and other municipal corporations, political subdivisions and public bodies, and public officers of any thereof, all banks, bankers, trust companies, savings banks and institutions,…

(20 ILCS 3501/845-35) Sec. 845-35. Under no circumstances shall any bonds or other evidences of indebtedness issued by the Authority or the Predecessor Authorities under this Act or under any other law be or become an indebtedness or obligation of the State of Illinois, within th…

(20 ILCS 3501/845-40) Sec. 845-40. The Authority shall appoint a secretary and treasurer, who may, but need not, be a member or members of the Authority to hold office during the pleasure of the Authority. Before entering upon the duties of the respective offices such person or p…

(20 ILCS 3501/845-45) Sec. 845-45. (a) No member, officer, agent, or employee of the Authority shall, in his or her own name or in the name of a nominee, be an officer or director or hold an ownership interest of more than 7 1/2% in any person, association, trust, corporation, pa…

(20 ILCS 3501/845-5) Sec. 845-5. Bond limitations. (a) The Authority may not have outstanding at any one time bonds for any of its corporate purposes in an aggregate principal amount exceeding $28,150,000,000, excluding bonds issued to refund the bonds of the Authority or bonds o…

(20 ILCS 3501/845-50) Sec. 845-50. The fiscal year for the Authority shall commence on the first of July. As soon after the end of each fiscal year as may be expedient, the Authority shall cause to be prepared and printed a complete report and financial statement of its operation…

(20 ILCS 3501/845-55) Sec. 845-55. For the purposes of the Illinois Securities Law of 1953, bonds issued by the Authority shall be deemed to be securities issued by a public instrumentality of the State of Illinois. (Source: P.A. 93-205, eff. 1-1-04.)

(20 ILCS 3501/845-60) Sec. 845-60. Tax Exemption. The tax exemptions of outstanding bonds issued by the Predecessor Authorities pursuant to sections of the enabling acts of the Predecessor Authorities applicable to those bonds when issued shall remain valid and continue to be rec…

(20 ILCS 3501/845-65) Sec. 845-65. If any provision of this Act is held invalid, such provision shall be deemed to be excised and the invalidity thereof shall not affect any of the other provisions of this Act. If the application of any provision of this Act to any person or circ…

(20 ILCS 3501/845-70) Sec. 845-70. Tax avoidance. Notwithstanding any other provision of law, the Authority shall not enter into any agreement providing for the purchase and lease of tangible personal property that results in the avoidance of taxation under the Retailers' Occupat…

(20 ILCS 3501/845-75) Sec. 845-75. Transfer of functions from previously existing authorities to the Illinois Finance Authority. (a) The Illinois Finance Authority created by the Illinois Finance Authority Act shall succeed to, assume and exercise all rights, powers, duties and r…

(20 ILCS 3501/845-80) Sec. 845-80. Any reference in statute, in rule, or otherwise to the following entities is a reference to the Illinois Finance Authority created by this Act: The Illinois Development Finance Authority. The Illinois Farm Development Authority. The Illinois Hea…

(20 ILCS 3501/845-85) Sec. 845-85. Any reference in statute, in rule, or otherwise to the following Acts is a reference to this Act: The Illinois Development Finance Authority Act. The Illinois Farm Development Act. The Illinois Health Facilities Authority Act. The Illinois Resea…

(20 ILCS 3501/850-10) Sec. 850-10. Powers and duties. (a) The Authority shall have the powers enumerated in this Act to assist in the development and implementation of clean energy in the State. The powers enumerated in this Article shall be in addition to all other powers of the…

(20 ILCS 3501/850-15) Sec. 850-15. Purposes; Climate Bank. In its role as the Climate Bank for the State, the Authority shall consider the following purposes: (1) the distribution of the benefits of clean energy in an equitable manner, including by evaluating benefits to eligible…

(20 ILCS 3501/850-20) (This Section may contain text from a Public Act with a delayed effective date) Sec. 850-20. Thermal Energy Network Revolving Loan and Financial Assistance Program. (a) As used in this Section: "Program" means the Thermal Energy Network Revolving Loan and Fi…

(20 ILCS 3501/850-5) Sec. 850-5. Climate Bank. The General Assembly designates the Authority as the Climate Bank to aid in all respects with providing financial assistance, programs, and products to finance and otherwise develop and facilitate opportunities to develop clean energ…