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HB5419 • 2026
FINANCE-AGRICULTURAL BORROWER
This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
FINANCE-AGRICULTURAL BORROWER
Rule 19(a) / Re-referred to Rules Committee
Assigned to Revenue & Finance Committee
First Reading
Referred to Rules Committee
Filed with the Clerk by Rep. Ann M. Williams
FINANCE-AGRICULTURAL BORROWER
Illinois General Assembly - Full Text of HB5419 Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein. Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet. The English language version is always the official and authoritative version of this website. NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window. 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Full Text of HB5419 Home Legislation Full Text HB5419 - 104th General Assembly Bill Status Full Text Votes Witness Slips Select Menu Bill Status Full Text Votes Witness Slips Printer Friendly Version Introduced Printer Friendly Version Introduced Open PDF 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB5419 Introduced 2/13/2026, by Rep. Ann M. Williams SYNOPSIS AS INTRODUCED: 20 ILCS 3501/830-20 Amends the Illinois Finance Authority Act. Provides that the maximum amount of notes or bonds that may be issued by the Illinois Finance Authority for any one agricultural real estate borrower may be increased by a higher amount than currently allowed if a higher amount is permitted by statute or regulation. In provisions concerning agricultural assistance loans, removes provisions providing that no proceeds from any bonds issued by the Illinois Finance Authority shall be loaned for the purchase of new depreciable agricultural property to any natural person who has a net worth in excess of $500,000. Effective immediately. LRB104 20257 HLH 33708 b A BILL FOR HB5419 LRB104 20257 HLH 33708 b 1 AN ACT concerning finance. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Finance Authority Act is amended 5 by changing Section 830-20 as follows: 6 (20 ILCS 3501/830-20) 7 Sec. 830-20. The Authority may not pass a resolution 8 authorizing the issuance of any notes or bonds in excess of 9 $450,000 for any one agricultural real estate borrower. In any 10 calendar year after 2007, the $450,000 amount shall be 11 increased by an amount equal to such dollar amount multiplied 12 by the inflation percentage determined under Section 305(c) of 13 the federal Consolidated Farm and Rural Development Act (7 14 U.S.C. 1925) as of June 18, 2008 , unless a higher amount is 15 permitted by statute or regulation . Any increase determined 16 under the preceding sentence shall be rounded to the nearest 17 multiple of $100. No proceeds from any bonds issued by the 18 Authority shall be loaned to any natural person who has a net 19 worth in excess of $500,000 for the purchase of new 20 depreciable agricultural property or to any agribusiness that, 21 including all affiliates and subsidiaries, has more than 100 22 employees and a gross income exceeding $2,000,000 for the 23 preceding calendar year; provided, however, that the employee HB5419 - 2 - LRB104 20257 HLH 33708 b 1 size and gross income limitations shall not apply to any loans 2 to agribusinesses for research and development purposes, and 3 provided further that the Authority shall retain the power to 4 waive such limitations for any agribusiness that, at the time 5 of application, does not operate a facility within this State. 6 (Source: P.A. 96-531, eff. 8-14-09.) 7 Section 99. Effective date. This Act takes effect upon 8 becoming law. 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