Bill Text: IL HB3108 | 2017-2018 | 100th General Assembly | Enrolled

Bill Title: Amends the Illinois Finance Authority Act. In Sections concerning the fire truck revolving loan program, the fire station revolving loan program, and the ambulance revolving loan program, provides that repayments of loans made under those programs (and interest on those moneys) may be retained by the Authority and used for the purposes for which they are otherwise authorized to be used (currently, deposited into the Fire Truck Revolving Loan Fund, the Fire Station Revolving Loan Fund, and the Ambulance Revolving Loan Fund, as applicable). Provides that a loan for the purchase of an ambulance may not exceed $200,000 (instead of $100,000).

Spectrum: Bipartisan Bill

Status: (Enrolled) 2017-06-23 - Sent to the Governor [HB3108 Detail]

Download: Illinois-2017-HB3108-Enrolled.html

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1 AN ACT concerning finance.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Illinois Finance Authority Act is amended by
5changing Section 825-85 as follows:
6 (20 ILCS 3501/825-85)
7 Sec. 825-85. Ambulance revolving loan program.
8 (a) The Authority and the State Fire Marshal may jointly
9administer an ambulance revolving loan program. The program
10shall, in instances where sufficient loan funds exist to permit
11applications to be accepted, provide zero-interest and
12low-interest loans for the purchase of ambulances by a fire
13department, a fire protection district, a township fire
14department, or a non-profit ambulance service. The Authority
15shall make loans based on need, as determined by the State Fire
17 (b) The loan funds, subject to appropriation, shall be paid
18out of the Ambulance Revolving Loan Fund, a special fund in the
19State treasury. The Fund shall consist of any moneys
20transferred or appropriated into the Fund, as well as all
21repayments of loans made under the program. The Fund shall be
22used for loans to fire departments, fire protection districts,
23and non-profit ambulance services to purchase ambulances and

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1for no other purpose. All interest earned on moneys in the Fund
2shall be deposited into the Fund. As soon as practical after
3the effective date of this amendatory Act of the 97th General
4Assembly, all moneys in the Ambulance Revolving Loan Fund shall
5be paid by the State Fire Marshal to the Authority, and, on and
6after the effective date of this amendatory Act of the 97th
7General Assembly, all future moneys deposited into the
8Ambulance Revolving Loan Fund under this Section shall be paid
9by the State Fire Marshal to the Authority under the continuing
10appropriation provision of subsection (b-1) of this Section;
11provided that the Authority and the State Fire Marshal enter
12into an intergovernmental agreement to use the moneys
13transferred to the Authority from the Fund solely for the
14purposes for which the moneys would otherwise be used under
15this Section and to set forth procedures to otherwise
16administer the use of the moneys.
17 (b-1) There is hereby appropriated, on a continuing annual
18basis in each fiscal year, from the Ambulance Revolving Loan
19Fund, the amount, if any, of funds received into the Ambulance
20Revolving Loan Fund to the State Fire Marshal for payment to
21the Authority for the purposes for which the moneys would
22otherwise be used under this Section.
23 (c) A loan for the purchase of ambulances may not exceed
24$200,000 $100,000 to any fire department, fire protection
25district, or non-profit ambulance service. The repayment
26period for the loan may not exceed 10 years. The fire

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1department, fire protection district, or non-profit ambulance
2service` shall repay each year at least 5% of the principal
3amount borrowed or the remaining balance of the loan, whichever
4is less. All repayments of loans shall be deposited into the
5Ambulance Revolving Loan Fund.
6 (d) The Authority and the State Fire Marshal may adopt
7rules in accordance with the Illinois Administrative Procedure
8Act to administer the program.
9(Source: P.A. 97-901, eff. 1-1-13.)