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<xml>
<title>Illinois General Assembly - Bill Status for HB 5117   </title>
<shortdesc>IFA-NATURAL GAS LOAN GUARANTEE</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Wayne Rosenthal</sponsors>
</sponsor>
<lastaction>
<statusdate>1/8/2013</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>20 ILCS 3501/830-60 new</reference><aliasreference></aliasreference><SynopsisText>     Amends the Illinois Finance Authority Act. Creates the Rural Natural Gas Expansion Loan Guarantee Program. Authorizes the Authority to issue State Guarantees to lenders for loans to agribusinesses for the purpose of expanding or increasing capacity of natural gas lines for their agribusiness. Provides that lenders shall apply for the State Guarantees on forms provided by the Authority. Provides that the lender must agree to charge an interest rate, which may vary, that the Authority determines to be below the market rate of interest generally available to the agribusiness. Provides that a State Guarantee shall not exceed $5,000,000 per agribusiness. Provides that the Illinois Farmer and Agribusiness Loan Guarantee Fund may be used to secure State Guarantees.</SynopsisText></synopsis>
<actions>
<statusdate>2/8/2012</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Wayne Rosenthal</action>
<statusdate>2/8/2012</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/8/2012</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>1/8/2013</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

