House Sponsors: SMITH,MICHAEL-BLACK-REITZ-FOWLER-O'BRIEN, WAIT, MOFFITT, NOVAK, BOST, MYERS,RICHARD, MITCHELL,BILL, LAWFER, JONES,JOHN, WINTERS, MITCHELL,JERRY, RIGHTER AND BOLAND. Senate Sponsors: LUECHTEFELD Short description: FARM DEVELOP AUTHY-INCR BONDS Synopsis of Bill as introduced: Amends the Illinois Farm Development Act. Increases to $350,000,000 (now, $300,000,000) the aggregate principal amount of bonds that the Illinois Farm Development Authority may issue. Effective immediately. FISCAL NOTE (Farm Development Authority) In its orginal form, this bill will have no fiscal impact; but, if amended to expand the guarantee umbrella for loans, the fiscal impact to the State in the short run will be zero and over time would be estimated at less than 3% of the total of loans approved. SENATE AMENDMENT NO. 1. Further amends the Illinois Farm Development Act. Deletes the increase in the aggregate principal amount of bonds that the Illinois Farm Development Authority may issue. Increases to $75,000,000 (now, $50,000,000) the aggregate principal amount of State Guarantees for the purposes of loans to farmers and agribusiness, the Young Farmer Loan Guarantee Program, and the Specialized Livestock Guarantee Program that the Authority may have outstanding at any one time. Last action on Bill: PUBLIC ACT.............................. 91-0611 Last action date: 99-08-19 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status