Illinois Compiled Statutes 20 Executive Branch: Article -

• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 1
  Short title. This Act may be cited as the Illinois Investment and Development Authority Act. (Source: P.A. 92-864, eff. 6-1-03.)
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 5
  Purpose. The purpose of this Act is to create a State entity to support the creation and growth of community development financial institutions, which...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 10
  Definitions. In this Act: "Authority" means the Illinois Investment and Development Authority. "Community development financial institution" or "CDFI" means an Illinois community development financial...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 15
  Creation of Illinois Investment and Development Authority; members. (a) There is created a political subdivision, body politic and corporate, to be known as the Illinois...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 20
  Executive Director; other employees. The members of the Authority shall appoint an Executive Director to hold office at the pleasure of the members. The...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 25
  Powers of Authority. (a) The Authority possesses all the powers as a body corporate necessary and convenient to accomplish the purposes of this Act,...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 30
  Office. The Authority may maintain an office or branch office anywhere in this State and may utilize, without the payment of rent, any office...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 35
  Secretary; treasurer; funds. (a) The Authority shall appoint a secretary and treasurer, who may be a member or members of the Authority, to hold...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 40
  Conflict of interest. (a) No member, officer, agent, or employee of the Authority shall, in his or her own name or in the name...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 45
  Audit; fiscal year; report. The accounts and books of the Authority, including its receipts, disbursements, contracts, and other matters relating to its finances, operation,...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 50
  Accreditation. (a) A CDFI must be accredited by the Authority in order to receive assistance from the Authority, unless otherwise specified in this Act....
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 55
  Authority's responsibilities. (a) The Authority shall make grants and low-rate loans to CDFIs so that CDFIs may fill a credit gap by engaging in...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 60
  Authority grants. The Authority may issue grants to CDFIs or to nonprofit organizations that are attempting to obtain federal certification or Authority accreditation as...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 65
  Authority loans. The Authority may make loans to CDFIs, from moneys appropriated for this purpose, on such terms and conditions as the Authority may...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 70
  Community development loans. (a) CDFIs that receive loans from the Authority under Section 65 of this Act shall make and use community development loans...
• Illinois Investment and Development Authority Act. - 20 ILCS 3820, Section 75
  Report to General Assembly. Within 90 days after the end of each fiscal year, the Authority shall prepare a report for that fiscal year...

Last modified: February 18, 2015