Bill Text: IL HB1567 | 2025-2026 | 104th General Assembly | Introduced

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Bill Title: Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority and the Illinois Law Enforcement Training and Standards Board may jointly administer a squad car revolving loan program. Creates the Squad Car Revolving Loan Fund. Provides that loans under the program shall be paid out of the Squad Car Revolving Loan Fund. Amends the State Finance Act to make conforming changes.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2025-02-18 - Assigned to Revenue & Finance Committee [HB1567 Detail]

Download: Illinois-2025-HB1567-Introduced.html

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104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1567 Introduced , by Rep. Dave Vella SYNOPSIS AS INTRODUCED:
20 ILCS 3501/825-120 new
30 ILCS 105/5.1030 new
Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority and the Illinois Law Enforcement Training and Standards Board may jointly administer a squad car revolving loan program. Creates the Squad Car Revolving Loan Fund. Provides that loans under the program shall be paid out of the Squad Car Revolving Loan Fund. Amends the State Finance Act to make conforming changes.
LRB104 05969 HLH 16002 b
A BILL FOR
HB1567 LRB104 05969 HLH 16002 b
AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Finance Authority Act is amended
by adding Section 825-120 as follows:
(20 ILCS 3501/825-120 new)
Sec. 825-120. Squad Car Revolving Loan Program.
(a) The Illinois Finance Authority and the Illinois Law
Enforcement Training and Standards Board may jointly
administer a squad car revolving loan program. The program
shall, in instances where sufficient loan funds exist to
permit applications to be accepted, provide zero-interest
loans for the purchase of squad cars by local Illinois law
enforcement agencies. The Authority shall make loans based on
need, as determined by the Illinois Law Enforcement Training
and Standards Board.
(b) The loan funds shall be paid, subject to
appropriation, out of the Squad Car Revolving Loan Fund, a
special fund in the State Treasury. The Squad Car Revolving
Loan Fund shall consist of any moneys transferred or
appropriated into the Squad Car Revolving Loan Fund and all
repayments of loans made under the squad car revolving loan
program. The Squad Car Revolving Loan Fund shall be used for

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loans to local Illinois law enforcement agencies to purchase
squad cars and for no other purpose. All interest earned on
moneys in the Fund shall be deposited into the Fund.
(c) No local Illinois law enforcement agency may receive a
loan under this Section that exceeds $250,000. No local
Illinois law enforcement agency is eligible for a second or
subsequent loan under this Section until that local Illinois
law enforcement agency has repaid at least 50% of the amount
borrowed under the terms of each of the previous loans awarded
to the local Illinois law enforcement agency under this
Section. The repayment period for the loan may not exceed 5
years. The local Illinois law enforcement agency shall repay
each year at least 20% of the principal amount borrowed or the
remaining balance of the loan, whichever is less. All
repayments of loans under this Section shall be deposited into
the Squad Car Revolving Loan Fund.
(d) The Authority, in consultation with the Illinois Law
Enforcement Training and Standards Board, may adopt rules to
administer this Section.
(e) As used in this Section:
"Local Illinois law enforcement agency" means an agency of
any municipality or county that is vested by law or ordinance
with the duty to maintain public order and to enforce criminal
laws or ordinances.
Section 10. The State Finance Act is amended by adding

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Section 5.1030 as follows:
(30 ILCS 105/5.1030 new)
Sec. 5.1030. The Squad Car Revolving Loan Fund.