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 prior approval from the Governor in accordance with this Act.
30 ILCS 346/5
Public policy
Known as the Private Activity Bond Approval Act
The act spans §§ 30-346-1 to 30-346-99 (5 sections).
P.A. 96-1493, eff. 1-1-11.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.