Illinois Senate Bill 2416

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 10 2023 - 25% progression
Action: 2023-03-10 - Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Creates the Resilient Illinois Revolving Loan Fund Act. Presents the General Assembly's findings. States the purpose of the Act. Establishes the Illinois Revolving Loan Fund as a special fund in the State treasury and makes a conforming change in the State Finance Act. Provides that moneys in the Fund (1) shall be used to provide low-interest or no-interest loans to counties and nonprofit organizations for local resilience projects that address mitigation of all hazards and (2) may be used for administrative support associated with the Fund, including the hiring of necessary staff. Tasks the Director of the Illinois Emergency Management Agency with the Fund's administration. Requires the Director to apply to the Federal Emergency Management Agency when funding is available under the federal STORM Act to capitalize the Fund. Directs the Agency to prioritize providing loans to projects it determines to have the greatest impact on eliminating hazards. Provides that the Fund shall be administered, operated, and maintained to remain available in perpetuity to provide loans and other financial assistance. Requires the Agency to establish application procedures and eligibility criteria for loans from the Fund that meet specified requirements. Effective immediately.

RESILIENT ILLINOIS LOAN FUND

Sen. Michael Halpin [D]

Date	Chamber	Action
2023-03-10	Senate	Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
2023-03-10	Senate	Rule 3-9(a) / Re-referred to Assignments
2023-03-07	Senate	Senate Committee Amendment No. 1 Assignments Refers to Appropriations
2023-03-03	Senate	Senate Committee Amendment No. 1 Referred to Assignments
2023-03-03	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Michael W. Halpin
2023-02-28	Senate	Assigned to Appropriations
2023-02-10	Senate	Referred to Assignments
2023-02-10	Senate	First Reading
2023-02-10	Senate	Filed with Secretary by Sen. Michael W. Halpin

Chapter	Article	Section	Citation Type	Statute Text
30	105	5.990	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2416&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB2416.htm
Amendment	https://www.ilga.gov/legislation/103/SB/10300SB2416sam001.htm