104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB1567
 
Introduced 1/28/2025, 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
 
HB1567LRB104 05969 HLH 16002 b

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 
5by adding Section 825-120 as follows:
 
6    (20 ILCS 3501/825-120 new)
7    Sec. 825-120. Squad Car Revolving Loan Program.
8    (a) The Illinois Finance Authority and the Illinois Law 
9Enforcement Training and Standards Board may jointly 
10administer a squad car revolving loan program. The program 
11shall, in instances where sufficient loan funds exist to 
12permit applications to be accepted, provide zero-interest 
13loans for the purchase of squad cars by local Illinois law 
14enforcement agencies. The Authority shall make loans based on 
15need, as determined by the Illinois Law Enforcement Training 
16and Standards Board. 
17    (b) The loan funds shall be paid, subject to 
18appropriation, out of the Squad Car Revolving Loan Fund, a 
19special fund in the State Treasury. The Squad Car Revolving 
20Loan Fund shall consist of any moneys transferred or 
21appropriated into the Squad Car Revolving Loan Fund and all 
22repayments of loans made under the squad car revolving loan 
23program. The Squad Car Revolving Loan Fund shall be used for 
 
 
HB1567- 2 -LRB104 05969 HLH 16002 b

1loans to local Illinois law enforcement agencies to purchase 
2squad cars and for no other purpose. All interest earned on 
3moneys in the Fund shall be deposited into the Fund. 
4    (c) No local Illinois law enforcement agency may receive a 
5loan under this Section that exceeds $250,000. No local 
6Illinois law enforcement agency is eligible for a second or 
7subsequent loan under this Section until that local Illinois 
8law enforcement agency has repaid at least 50% of the amount 
9borrowed under the terms of each of the previous loans awarded 
10to the local Illinois law enforcement agency under this 
11Section. The repayment period for the loan may not exceed 5 
12years. The local Illinois law enforcement agency shall repay 
13each year at least 20% of the principal amount borrowed or the 
14remaining balance of the loan, whichever is less. All 
15repayments of loans under this Section shall be deposited into 
16the Squad Car Revolving Loan Fund. 
17    (d) The Authority, in consultation with the Illinois Law 
18Enforcement Training and Standards Board, may adopt rules to 
19administer this Section. 
20    (e) As used in this Section:
21    "Local Illinois law enforcement agency" means an agency of 
22any municipality or county that is vested by law or ordinance 
23with the duty to maintain public order and to enforce criminal 
24laws or ordinances. 
 
25    Section 10. The State Finance Act is amended by adding 
 
 
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1Section 5.1030 as follows:
 
2    (30 ILCS 105/5.1030 new)
3    Sec. 5.1030. The Squad Car Revolving Loan Fund.