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IL SB1779
Bill
AI Summary
- Changes "with" to "within" on page 21, line 19 of SB1779
- Adds exception language regarding Section 146 permits on page 27, line 26
- Creates new Section 7.5 establishing required findings for State authority to approve financing or refinancing of environmental facilities located outside Illinois
- State authority may approve out-of-state environmental facility financing only if: the financing entity operates environmental facilities within Illinois or maintains significant state presence, the financing promotes state interests by reducing pollution or lowering facility costs, and the state authority retains ability to issue at least $250 million in additional bonds; or the financing substantially reduces environmental damage within the state
- Prohibits State authority from financing any projects outside the United States or using State volume cap under Internal Revenue Code Section 146 for out-of-state projects, except as permitted by Section 146
Legislative Description
IFA-MUNICIPAL BONDS
Last Action
Session Sine Die
1/13/2015
Committee Referrals
Assignments4/30/2013
State Government & Veterans Affairs2/27/2013
Assignments2/15/2013
Full Bill Text
No bill text available