30 ILCS 435/1
Short title
Short title. This Act may be cited as the Human Services Provider Bond Reserve Payment Act. (Source: P.A. 88-117.)
Illinois Compiled Statutes 30 ILCS 435 — Human Services Provider Bond Reserve Payment Act.
Illinois · statute · 30 ILCS 435 · 7 active provisions
30 ILCS 435/5
Purpose
Purpose. It is the purpose of this Act to enable human service providers to obtain long-term funding on more favorable terms by providing a mechanism whereby payments may be paid by the State directly to a trustee to replenish a reserve fund. (Source: P.A. 88-117.)
30 ILCS 435/10
Definitions
Definitions. For the purposes of this Act: (a) "Service provider" means any nongovernmental entity, either for-profit or not-for-profit, that enters into a contract with a State agency under which the entity is paid or reimbursed by the State for providing human services to persons in Illinois. (b) "State agency" means…
30 ILCS 435/15
Provider contracts
Provider contracts. A State agency may include a provision authorizing payment to a bond trustee in accordance with Section 20 in any new or renewed contract with a service provider under which the provider is paid or reimbursed by the State for providing human services to persons in Illinois. At the request of a servi…
30 ILCS 435/20
Payment to bond trustee
Payment to bond trustee. (a) If authorized in the contract between a State agency and a service provider, whenever the service provider is required to replenish the reserve fund established under a covered bond issue, the trustee of the reserve fund shall certify to the affected State agency the amount required to meet…
30 ILCS 435/25
Report
Report. By November 1 of each year, every State agency shall report to the Governor's Office of Management and Budget and the Auditor General any direct payment to a bond paying agent made by the agency under this Act during the previous fiscal year. (Source: P.A. 94-793, eff. 5-19-06.)
30 ILCS 435/99
This Act takes effect upon becoming law
This Act takes effect upon becoming law. (Source: P.A. 88-117.)