Ill. Admin. Code tit. 74, § 715.610 – Limitations on Funding | Midpage
§ 715.610
Ill. Admin. Code tit. 74, § 715.610
Limitations on Funding
AUTHORITY: Implementing and authorized by Section 30-40 of the Community Development Loan Guarantee Act [15 ILCS 516].TREASURER
a) Account Maximum. The Treasurer may set a cap on the total funds held in any Loan Guarantee Account. Funds in excess of the cap may be withdrawn by the Treasurer. [15 ILCS 516/30-30]
b) Funding Maximum. The Treasurer may allocate up to $10,000,000 of investment earnings each year for the Program, provided that no more than $50,000,000 may be used for guaranteeing loans at any given time. [15 ILCS 516/30-35]