|
|
Sen. Deanna Demuzio
Filed: 2/14/2006
|
|
09400SB2949sam001 |
|
LRB094 19194 RCE 56001 a |
|
|
| 1 |
| AMENDMENT TO SENATE BILL 2949
|
| 2 |
| AMENDMENT NO. ______. Amend Senate Bill 2949 by replacing |
| 3 |
| everything after the enacting clause with the following:
|
| 4 |
| "Section 5. The Illinois Finance Authority Act is amended |
| 5 |
| by changing Section 825-80 as follows:
|
| 6 |
| (20 ILCS 3501/825-80) |
| 7 |
| Sec. 825-80. Fire truck and EMS service vehicle revolving |
| 8 |
| loan program. |
| 9 |
| (a) This Section is a continuation and re-enactment of the |
| 10 |
| fire truck revolving loan program enacted as Section 3-27 of |
| 11 |
| the Rural Bond Bank Act by Public Act 93-35, effective June 24, |
| 12 |
| 2003, and repealed by Public Act 93-205, effective January 1, |
| 13 |
| 2004. Under the Rural Bond Bank Act, the program was |
| 14 |
| administered by the Rural Bond Bank and the State Fire Marshal. |
| 15 |
| (b) The Authority and the State Fire Marshal shall jointly |
| 16 |
| administer a fire truck and EMS service vehicle revolving loan |
| 17 |
| program. The program shall provide zero-interest loans for the |
| 18 |
| purchase of fire trucks and EMS service vehicles by a fire |
| 19 |
| department, a fire protection district, or a township fire |
| 20 |
| department, or an EMS provider. The Authority shall make loans |
| 21 |
| based on need, as determined by the State Fire Marshal. EMS |
| 22 |
| providers that operate as a for-profit business are not |
| 23 |
| eligible for loans.
|
| 24 |
| (c) The loan funds, subject to appropriation, shall be paid |
|
|
|
09400SB2949sam001 |
- 2 - |
LRB094 19194 RCE 56001 a |
|
|
| 1 |
| out of the Fire Truck and EMS Service Vehicle Revolving Loan |
| 2 |
| Fund, a special fund in the State Treasury. The Fund shall |
| 3 |
| consist of any moneys transferred or appropriated into the |
| 4 |
| Fund, as well as all repayments of loans made under the program |
| 5 |
| and any balance existing in the Fund on the effective date of |
| 6 |
| this Section. The Fund shall be used for loans to fire |
| 7 |
| departments,
and fire protection districts, and EMS providers
|
| 8 |
| to purchase fire trucks and EMS service vehicles and for no |
| 9 |
| other purpose other than the ordinary and contingent expenses |
| 10 |
| of administering the program. All interest earned on moneys in |
| 11 |
| the Fund shall be deposited into the Fund. |
| 12 |
| (d) A loan for the purchase of fire trucks or EMS service |
| 13 |
| vehicles may not exceed $250,000 to any fire department,
or
|
| 14 |
| fire protection district, or EMS provider. The repayment period |
| 15 |
| for the loan may not exceed 20 years. The fire department,
or
|
| 16 |
| fire protection district, or EMS provider shall repay each year |
| 17 |
| at least 5% of the principal amount borrowed or the remaining |
| 18 |
| balance of the loan, whichever is less. All repayments of loans |
| 19 |
| shall be deposited into the Fire Truck and EMS Service Vehicle
|
| 20 |
| Revolving Loan Fund. |
| 21 |
| (e) The Authority and the State Fire Marshal shall adopt |
| 22 |
| rules to administer the program.
|
| 23 |
| (f) Notwithstanding the repeal of Section 3-27 of the Rural |
| 24 |
| Bond Bank Act, all otherwise lawful actions taken on or after |
| 25 |
| January 1, 2004 and before the effective date of this Section |
| 26 |
| by any person under the authority originally granted by that |
| 27 |
| Section 3-27, including without limitation the granting, |
| 28 |
| acceptance, and repayment of loans for the purchase of fire |
| 29 |
| trucks, are hereby validated, and the rights and obligations of |
| 30 |
| all parties to any such loan are hereby acknowledged and |
| 31 |
| confirmed.
|
| 32 |
| (Source: P.A. 94-221, eff. 7-14-05.)
|
| 33 |
| Section 10. The State Finance Act is amended by renumbering |