Sen. James F. Clayborne Jr.
Filed: 4/16/2007
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1 | AMENDMENT TO HOUSE BILL 277
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2 | AMENDMENT NO. ______. Amend House Bill 277 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Environmental Protection Act is amended by | ||||||
5 | adding Section 57.8a as follows: | ||||||
6 | (415 ILCS 5/57.8a new) | ||||||
7 | Sec. 57.8a. Assignment of payments from the Underground | ||||||
8 | Storage Tank Fund. | ||||||
9 | (a) If the Agency has formed a priority list for payment | ||||||
10 | under Section 57.8(a)(3) of this Act, an owner or operator on | ||||||
11 | the priority list may assign the full approved payment amount | ||||||
12 | on the list for which the owner or operator is awaiting payment | ||||||
13 | to any third party for any purpose including, without | ||||||
14 | limitation, repaying a bond, loan, or other form of financing | ||||||
15 | secured by or payable from the approved payment. Each | ||||||
16 | assignment must be made on an approved payment by approved |
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1 | payment basis and must be made by completing the forms and | ||||||
2 | procedures prescribed by the Agency. No assignment under this | ||||||
3 | Section prevents or affects the right of the State Comptroller | ||||||
4 | to make the deductions and off-sets provided in Section 10.05 | ||||||
5 | of the State Comptroller Act. | ||||||
6 | (b) An assignee has no right of appeal relating to the | ||||||
7 | assigned payment. | ||||||
8 | (c) An owner's or operator's assignment under this Section | ||||||
9 | is irrevocable. The State shall pay the full assigned amount to | ||||||
10 | the assignee, subject to right of the State Comptroller to make | ||||||
11 | the deductions and off-sets provided in Section 10.05 of the | ||||||
12 | State Comptroller Act. | ||||||
13 | (d) The State and its officers and employees are discharged | ||||||
14 | of all liability upon payment of the assigned amount to the | ||||||
15 | assignee. The assignor and assignee shall hold harmless and | ||||||
16 | indemnify the State and its officers and employees from all | ||||||
17 | claims, actions, suits, complaints, and liabilities related to | ||||||
18 | the assignment. | ||||||
19 | (e) An assignee of an approved payment from the priority | ||||||
20 | list shall be entitled to receive the full approved payment | ||||||
21 | amount set forth on the priority list for the owner or operator | ||||||
22 | making such assignment, subject to the right of the State | ||||||
23 | Comptroller to make the deductions and off-sets provided in | ||||||
24 | Section 10.05 of the State Comptroller Act. The assignee may | ||||||
25 | use any payment received as a result of the assignment for any | ||||||
26 | purpose including, without limitation, paying principal, |
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1 | interest, or other costs due on a bond, loan, or other form of | ||||||
2 | financing for which the payment was assigned. The approved | ||||||
3 | payment amount set forth on the priority list shall not be | ||||||
4 | increased as a result of the assignment.
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5 | Section 99. Effective date. This Act takes effect upon | ||||||
6 | becoming law.".
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