Illinois 104th General Assembly Status: Introduced Bipartisan · 3 D · 1 R cosponsors

SB1776      — FINANCE-YOUNG FARMER

Last action — Added as Chief Co-Sponsor Sen. Sally J. Turner

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

This bill has been introduced in the Senate. Introduced February 06, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 30% · moderate confidence

  • Introduced

    Current position in the legislative process.

  • 4 sponsors

    1 primary, 3 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (3 D · 1 R) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill increases loan guarantees for young farmers and supports education financing in agriculture.

This bill amends the Young Farmer Loan Guarantee Program by increasing the maximum state loan guarantees to $1,000,000. It also allows financing for post-secondary agricultural education and land rental payments.

What this means for you
  • Workers: Young farmers may have increased access to financial support for education and land leases.

Summary

Amends the Illinois Finance Authority Act. In provisions concerning the Young Farmer Loan Guarantee Program, provides that State Guarantees under the program shall not exceed $1,000,000 (currently $500,000) per young farmer. Provides that the Illinois Finance Authority is authorized to issue State Guarantees to lenders for loans to finance or refinance tuition debt incurred by or on behalf of an eligible farmer for post-secondary education in an agriculture field. Provides that the Illinois Finance Authority may use moneys under the Working Capital Loan Guarantee Program to finance rental payments for land leased to the farmer. Provides that State Guarantees provided under the Working Capital Loan Guarantee Program may not exceed $500,000 per borrower. Effective immediately

Bill Text

We don't have the full text on file for this bill yet.

Read SB1776 on the official Illinois source →

Action History

  1. Added as Chief Co-Sponsor Sen. Sally J. Turner

  2. Added as Chief Co-Sponsor Sen. Paul Faraci

  3. Added as Chief Co-Sponsor Sen. Doris Turner

  4. Referred to Assignments

  5. First Reading

  6. Filed with Secretary by Sen. Michael W. Halpin

Sponsors

Sponsorship breakdown

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1 sponsors · 3 co-sponsors · 179 not signed on

Sponsors (1)

Co-sponsors (3)

Not signed on (179)

179 members have not signed on to this bill.

Show all 179 →

"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 education agriculture
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB1776      do?
Amends the Illinois Finance Authority Act. In provisions concerning the Young Farmer Loan Guarantee Program, provides that State Guarantees under the program shall not exceed $1,000,000 (currently $500,000) per young farmer. Provides that the Illinois Finance Authority is authorized to issue State Guarantees to lenders for loans to finance or refinance tuition debt incurred by or on behalf of an eligible farmer for post-secondary education in an agriculture field. Provides that the Illinois Finance Authority may use moneys under the Working Capital Loan Guarantee Program to finance rental payments for land leased to the farmer. Provides that State Guarantees provided under the Working Capital Loan Guarantee Program may not exceed $500,000 per borrower. Effective immediately
Who sponsors SB1776     ?
SB1776      is sponsored by Michael W. Halpin (Democrat), Doris Turner (Democrat), Paul Faraci (Democrat), and Sally J. Turner (Republican).
What is the current status of SB1776     ?
This bill has been introduced in the Senate. Introduced February 06, 2025. It must pass committee before a floor vote.
Where can I track SB1776     ?
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Last checked for changes 3 months ago · updated continuously

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