30 ILCS 346/1
Short title
Short title. This Act may be cited as the Private Activity Bond Approval Act. (Source: P.A. 96-1493, eff. 1-1-11.)
Illinois Compiled Statutes 30 ILCS 346 — Private Activity Bond Approval Act.
Illinois · statute · 30 ILCS 346 · 5 active provisions
30 ILCS 346/5
Public policy
Public policy. It is the policy of this State that in order to maintain an effective system of monitoring the use of federal subsidies within the State, facilities within the State proposed to be financed with bonds issued by an issuer that does not have jurisdiction over the location of those facilities must receive p…
30 ILCS 346/10
Definition
Definition. "Host approval" means an approval by an applicable elected representative of a governmental unit, for purposes of Section 147(f)(2)(A)(ii) of the Internal Revenue Code, having jurisdiction over the area in which a facility is located that is to be financed with bonds issued by an issuer that does not have j…
30 ILCS 346/15
Qualifications for facility requiring host approval
Qualifications for facility requiring host approval. (a) Host approval shall not be granted unless and until the Governor has received the items and information listed in subsection (b) of this Section and has issued an approval as set forth in subsection (c) of this Section. (b) The following items and information mus…
30 ILCS 346/99
Effective date
Effective date. This Act takes effect January 1, 2011. (Source: P.A. 96-1493, eff. 1-1-11.)