Illinois General Assembly - Bill Status for HB3053

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Bill Status of HB3053 97th General Assembly

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Short Description: IFA-SCHOOL BUS REVOLVING LOAN

House Sponsors
Rep. Donald L. Moffitt

Last Action

Date	Chamber	Action
1/8/2013	House	Session Sine Die

Statutes Amended In Order of Appearance

20 ILCS 3501/825-87 new

30 ILCS 105/5.786 new

Synopsis As Introduced
Amends the Illinois Finance Authority Act. Creates a school bus revolving loan program. Provides for a 2% rate of interest on loans for the purchase of a school bus if the chassis and the passenger compartment are built outside of Illinois, a 1% rate of interest for a school bus if either the chassis or the passenger compartment is built in Illinois, or a 0% rate of interest for a school bus if both the chassis and the passenger compartment are built in Illinois. Creates the School Bus Revolving Loan Fund as a special fund in the State treasury. Provides that loan funds shall be paid out of the Fund, and repayments of loans shall be deposited into the Fund. Provides that a loan to a school district or unit of local government for the purchase of school buses may not exceed $100,000. Provides that the repayment period may not exceed 20 years. Effective immediately.

Actions

Date	Chamber	Action
2/23/2011	House	Filed with the Clerk by Rep. Donald L. Moffitt
2/23/2011	House	First Reading
2/23/2011	House	Referred to Rules Committee
2/28/2011	House	Assigned to Executive Committee
3/2/2011	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Donald L. Moffitt
3/2/2011	House	House Committee Amendment No. 1 Referred to Rules Committee
3/17/2011	House	House Committee Amendment No. 1 Tabled Pursuant to Rule 40
3/17/2011	House	Rule 19(a) / Re-referred to Rules Committee
1/8/2013	House	Session Sine Die

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