093_HB3934

                                     LRB093 14483 BDD 20229 b

 1        AN ACT concerning finance.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Illinois Private Activity Bond Allocation
 5    Act is amended by adding Section 7.5 as follows:

 6        (30 ILCS 345/7.5 new)
 7        Sec.  7.5.  Annual report. For any private activity bonds
 8    issued from bond volume cap designated for the  State  Agency
 9    Pool  or  the  Local Government Pool, the issuer of the bonds
10    must file an annual report to the Governor and to the General
11    Assembly. The annual report must include, but is not  limited
12    to, the following information:
13        (1)  the type of projects funded;
14        (2)  the  location  of each project and loan generated by
15    the bond proceeds;
16        (3)  the actual and effective interest rates  offered  to
17    consumers;
18        (4)  any special characteristics of the loans; and
19        (5)  the  percentage of bond proceeds used in conjunction
20    with the projects and loans.