Illinois § 30-20 Eligible institutions

Illinois Statutes

§ 30-20 — Eligible institutions

Illinois § 30-20

TopicGOVERNMENT

Ch. 15EXECUTIVE OFFICERS

Act 15 ILCS 516/Community Development Loan Guarantee Act.

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Bluebook

15 Ill. Comp. Stat. 30-20 (2026).

Text

The State Treasurer shall determine the eligibility of financial institutions to participate in the Program. In addition to any other requirements of this Act and in accordance with any applicable federal law or program, the State Treasurer in determining eligibility of financial institutions shall consider (i) the financial institution's commitment to low-income communities as defined in Section 45D(e) of the Internal Revenue Code of 1986 codified at 26 U.S.C. Section 45D(e), and (ii) the financial institution's commitment to communities considered disproportionately impacted areas, depressed areas, or enterprise zones as determined, designated, or certified by the Department of Commerce and Economic Opportunity in accordance with any applicable federal law or program.

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The State Treasurer shall determine the eligibility of financial institutions to participate in the Program. In addition to any other requirements of this Act and in accordance with any applicable federal law or program, the State Treasurer in determining eligibility of financial institutions shall consider (i) the financial institution's commitment to low-income communities as defined in Section 45D(e) of the Internal Revenue Code of 1986 codified at 26 U.S.C. Section 45D(e), and (ii) the financial institution's commitment to communities considered disproportionately impacted areas, depressed areas, or enterprise zones as determined, designated, or certified by the Department of Commerce and Economic Opportunity in accordance with any applicable federal law or program.