Illinois § 5

§ 5.

Definitions. In this Act: "Department" means the Department of Agriculture. "Director" means the Director of Agriculture. "Fund" means the Local Food Infrastructure Grant Fund. "Grant administrator" means the Department or a nonprofit organization that is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code, that represents farmers, and that has entered into a subcontract with the Department under Section 15 to administer the grant. "Grantee" means the person or entity to whom a grant is made from the Fund. "Lender" means a federal or State chartered bank, a federal land bank, a production credit association, a bank for cooperatives, a federal or State chartered savings and loan association, a federal or State chartered building and loan association, a small business investment company, or any other institution qualified within this State to originate and service loans, including, but not limited to, an insurance company, a credit union, and a mortgage loan company. "Lender" includes a wholly owned subsidiary of a manufacturer, seller, or distributor of goods or services that makes loans to businesses or individuals, commonly known as a captive finance company. "Liability" includes, but is not limited to, accounts payable; notes or other indebtedness owed to any source; taxes; rent; amounts owed on real estate contracts or real estate mortgages; judgments; accrued interest payable; and any other liability. "State" means the State of Illinois. "Underserved farmer" means a farmer or rancher who meets the United States Department of Agriculture criteria to be designated as a beginning farmer, socially disadvantaged farmer, veteran farmer, or limited resource farmer. "Underserved community" means a community that has limited or no access to resources or that is otherwise disenfranchised as determined by the Department. These communities may include people who are socioeconomically disadvantaged; people with limited English proficiency; geographically isolated or educationally disenfranchised people; people of color as well as ethnic and national origin minorities; women and children; individuals with disabilities and others with access and functional needs; and seniors. "Value-added agricultural product" means any farm or agricultural product or by-product that has its value enhanced through processing in Illinois, packaging in Illinois, or any other activity in Illinois. (Source: P.A. 103-772, eff. 8-2-24.)