Illinois 93rd Regular Session Status: In Committee

HB 6958 — IL FINANCE AUTH-AGRICULTURE

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 93rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Agricultural Assistance Article of the Illinois Finance Authority Act. Provides that to be eligible for certain State guarantees, a farmer must be a principal operator of a farm or land, at least 30% (instead of 50%) of whose annual income is derived from farming and whose debt to asset ratio shall not exceed the maximum limit established by the Illinois Finance Authority (instead of "shall not be less than 40%"). Provides that State guarantees under certain programs shall not exceed $750,000 (instead of $500,000). Provides that the collateral acceptable to the Authority must be at least equal to the gross loan amount (instead of "at least equal to the State's portion of the Guarantee to be provided"). Deletes a provision that to be eligible for State guarantees, a farmer's net worth may not exceed $500,000. Deletes a provision stating that a lender may not withdraw a State guarantee if the loan contract provides for an interest rate that may vary. Changes the name of the "Young Farmer Loan Guarantee Program" to the "Illinois Farmer Loan Guarantee Program". Makes other changes. Effective immediately.

Bill Text

Action History

  1. Session Sine Die

  2. Referred to Rules Committee

  3. First Reading

  4. Co-Sponsor Rep. Richard P. Myers

  5. Chief Co-Sponsor Rep. Patricia R. Bellock

  6. Filed with the Clerk by Rep. Patricia Reid Lindner

Sponsors

  • Patricia Reid Lindner · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Patricia Reid Lindner

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance agriculture
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Frequently asked questions

What does HB 6958 do?
Amends the Agricultural Assistance Article of the Illinois Finance Authority Act. Provides that to be eligible for certain State guarantees, a farmer must be a principal operator of a farm or land, at least 30% (instead of 50%) of whose annual income is derived from farming and whose debt to asset ratio shall not exceed the maximum limit established by the Illinois Finance Authority (instead of "shall not be less than 40%"). Provides that State guarantees under certain programs shall not exceed $750,000 (instead of $500,000). Provides that the collateral acceptable to the Authority must be at least equal to the gross loan amount (instead of "at least equal to the State's portion of the Guarantee to be provided"). Deletes a provision that to be eligible for State guarantees, a farmer's net worth may not exceed $500,000. Deletes a provision stating that a lender may not withdraw a State guarantee if the loan contract provides for an interest rate that may vary. Changes the name of the "Young Farmer Loan Guarantee Program" to the "Illinois Farmer Loan Guarantee Program". Makes other changes. Effective immediately.
Who sponsors HB 6958?
HB 6958 is sponsored by Patricia Reid Lindner.
What is the current status of HB 6958?
This bill died with 93rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 6958?
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Last checked for changes 3 months ago · updated continuously

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