Bill Text: IL SB1779 | 2013-2014 | 98th General Assembly | Amended

---

Bill Title: Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority may undertake a municipal bond program project. Provides that the Authority may provide financing for other projects located outside of the State if the project is owned, operated, leased, or managed by an entity located within the State or an entity affiliated with an entity located within the State. Makes other changes. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2015-01-13 - Session Sine Die [SB1779 Detail]

Download: Illinois-2013-SB1779-Amended.html

---

Sen. Donne E. Trotter

Filed: 4/9/2013

09800SB1779sam002 LRB098 10232 HLH 44015 a
AMENDMENT TO SENATE BILL 1779
AMENDMENT NO. ______. Amend Senate Bill 1779 on page 21,
line 19, by changing "with" to "within"; and
on page 27, line 26, by changing "amended," to "amended, except
as permitted under said Section 146,"; and
by replacing line 14 on page 43 through line 23 on page 44 with
the following:
"(20 ILCS 3515/7.5 new)
Sec. 7.5. Required findings for environmental facilities
located outside the State. The State authority may approve an
application to finance or refinance environmental facilities
located outside of the State only after it has made either of
the following findings with respect to such financing or
refinancing, all of which shall be deemed conclusive:
(1) that all of the following conditions exist:

09800SB1779sam002 - 2 - LRB098 10232 HLH 44015 a
(A) the entity financing or refinancing an
environmental facility located outside the State, or
an affiliate thereof, is also engaged in the financing
or refinancing of an environmental facility located
within the State or, alternately, the entity seeking
the financing or refinancing, or an affiliate thereof,
maintains a significant presence within the State;
(B) financing or refinancing the out-of-state
environmental facility would promote the interests of
the State for the benefit of the health, welfare,
safety, trade, commerce, industry, and economy of the
people of the State by reducing, controlling, or
preventing environmental damage and pollution within
the State or lowering the cost of environmental
facilities within the State by reducing the cost of
financing, refinancing, or operating environmental
facilities; and
(C) after giving effect to the financing or
refinancing of the out-of-state environmental
facility, the State authority shall have the ability to
issue at least an additional $250,000,000 in bonds
under Section 9 of this Act; or
(2) that financing or refinancing the out-of-state
environmental facility will substantially reduce, control,
or prevent environmental damage within the State.
The State authority shall not provide financing or

09800SB1779sam002 - 3 - LRB098 10232 HLH 44015 a
refinancing for any project, or portion thereof, located
outside the boundaries of the United States of America.
Notwithstanding any other provision of this Act, the
Authority shall not provide financing or refinancing that uses
State volume cap under Section 146 of the Internal Revenue Code
of 1986, as amended, except as permitted under said Section
146, or constitutes an indebtedness or obligation, general or
moral, or a pledge of the full faith or loan of credit of the
State for any project, or portion thereof, that is located
outside of the State.".