Illinois SB 2159: IFA-GUARANTEE FUNDS-CLIMATE BK

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB2159

Introduced 2/7/2025, by Sen. Rachel Ventura 

SYNOPSIS AS INTRODUCED:

20 ILCS 3501/830-30

20 ILCS 3501/830-35

 Amends the Illinois Finance Authority Act. In provisions concerning the Illinois Agricultural Loan Guarantee Fund and the Illinois Farmer and Agribusiness Loan Guarantee Fund, adds language allowing the moneys in the fund to be used by the Illinois Finance Authority, acting jointly with an appropriate administrative agency of the State using appropriations or other available funds with the Governor's approval, for certain purposes of the Authority regarding the Climate Bank. Effective immediately.

LRB104 11477 HLH 21566 b

A BILL FOR

SB2159LRB104 11477 HLH 21566 b

1 AN ACT concerning State government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Finance Authority Act is amended 

5by changing Sections 830-30 and 830-35 as follows:

6 (20 ILCS 3501/830-30)

7 Sec. 830-30. State Guarantees for existing debt. 

8 (a) The Authority is authorized to issue State Guarantees 

9for farmers' existing debts held by a lender. For the purposes 

10of this Section, a farmer shall be a resident of Illinois, who 

11is a principal operator of a farm or land, at least 50% of 

12whose annual gross income is derived from farming and whose 

13debt to asset ratio shall not be less than 40%, except in those 

14cases where the applicant has previously used the guarantee 

15program there shall be no debt to asset ratio or income 

16restriction. For the purposes of this Section, debt to asset 

17ratio shall mean the current outstanding liabilities of the 

18farmer divided by the current outsta