House Sponsors: SCHOENBERG-TURNER,ART, O'BRIEN. Short description: RECYCLABLE MARKETS DEVELOPMENT Synopsis of Bill as introduced: Creates the Recyclable Markets Development Act. Provides for a Recyclable Markets Development Advisory Council to review and recommend applications relating to the manufacturing, production, or constructing of recyclable markets commodities, buildings, or facilities that are filed with the Illinois Development Finance Authority. Amends the Illinois Development Finance Authority Act. Requires the Authority, upon recommendation of the Advisory Council, to provide certain financing to recyclable markets businesses. Establishes guidelines. Creates a trust fund in the State Treasury known as the Recyclable Markets Loan Guarantee Fund. Provides that the State Treasurer is ex officio custodian of the Fund and establishes obligations of the Fund. Effective immediately. BALANCED BUDGET NOTE (Bureau of the Budget) Since HB 732 is not a supplemental appropriation bill, the Balanced Budget Note Act is inapplicable. STATE DEBT NOTE (Economic and Fiscal Commission) HB 732 would not affect the level of bonding authorization of the State, and therefore, has no direct impact on the level of State indebtedness. FISCAL NOTE (Development Finance Authority) The legislation does not reference a funding level from the Authority and without specific information regarding the scale and scope of the proposal or the potential amount available from the Generation Skipping Tax Act, its fiscal effect on IDFA cannot be determined. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status