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| [ Introduced ] | [ House Amendment 002 ] |
92_SB2192eng 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 mayToaward 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 mayshallmaintain 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 mayshall have the authority tomake 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 mayshallestablish and publish 7 guidelines to be followed in making the grants and loans. 8 Grant funds maywillbe 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 maywillbe 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 mayTo19 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 mayTomake 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 maytomake 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 mayTocooperate 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 provideOffice'sfinancing 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 mayshallestablish 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 mayis authorized and directed to8 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 11shallinclude, 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.