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Executive Committee
Filed: 3/2/2005
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09400HB0056ham001 |
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LRB094 05269 NHT 42653 a |
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| AMENDMENT TO HOUSE BILL 56
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| AMENDMENT NO. ______. Amend House Bill 56 on page 1, line |
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| 5, by replacing "Section 10" with "Sections 10 and 15"; and
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| on page 1, immediately below line 16, by inserting the |
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| following:
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| "(110 ILCS 47/15)
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| Sec. 15. Fire Sprinkler Dormitory Revolving Loan Program. |
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| The Illinois Finance Authority and the Office of the State Fire |
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| Marshal shall jointly administer a fire sprinkler dormitory |
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| revolving loan program. The program shall provide low-interest |
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| loans for the installation of fire sprinkler systems in college |
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| dormitories by post-secondary educational institutions. The |
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| loan funds, subject to appropriation or other funding sources, |
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| shall be paid out of the Fire Sprinkler Dormitory Revolving |
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| Loan Fund, a special fund in the State treasury. The Fund shall |
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| consist of any moneys transferred into or appropriated to the |
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| Fund as well as all repayments of loans made under this |
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| Section. The Fund shall be used for loans to post-secondary |
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| educational institutions for costs associated with the |
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| installation of fire sprinkler systems in dormitories and for |
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| no other purpose. All interest earned on moneys in the Fund |
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| shall be deposited into the Fund.
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| (Source: P.A. 93-887, eff. 1-1-05.)".
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