95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1617


 
Introduced 2/9/2007, by Sen. Jeffrey M. Schoenberg
 
SYNOPSIS AS INTRODUCED:
 		













20 ILCS 205/205-437 new






30 ILCS 105/5.675 new










    Amends the Department of Agriculture Law of the Civil Administrative
Code of Illinois. Creates the Emerald Ash Borer Revolving Loan Program and the Emerald Ash Borer Revolving Loan Fund. Provides that the program shall provide low-interest or zero-interest loans to units of local government for the reforestation of trees on public lands that are within quarantine areas infested by the emerald ash borer. Provides that a loan for the reforestation of trees on public lands within quarantine areas infested by the emerald ash borer may not exceed $5,000,000 to any one unit of local government.  Sets out other terms of the loans awarded under the program.  Provides that any loan under this Section made to a unit of local government may not exceed the moneys that the unit of local government expends or dedicates for the reforestation project for which the loan is made. Amends the State Finance Act to create the Emerald Ash Borer Revolving Loan Fund in the Act.
















LRB095 11111 CMK 31444 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











SB1617

LRB095 11111 CMK 31444 b






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    AN ACT concerning conservation.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Department of Agriculture Law of the Civil 
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Administrative
Code of Illinois is amended  by adding Section 
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205-437 as follows:
 
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    (20 ILCS 205/205-437 new)

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    Sec. 205-437. Emerald ash borer revolving loan program.
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    (a) The Department shall administer an emerald ash borer 
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damage revolving loan program. Under the program, the 
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Department shall provide low-interest or zero-interest loans 
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to units of local government for the reforestation of trees on 
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public lands that are within quarantine areas infested by the 
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emerald ash borer.

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    (b) The loan funds, subject to appropriation, must be paid 
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out of the Emerald Ash Borer Revolving Loan Fund, a special 
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fund created in the State Treasury.  The moneys in the Fund 
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consist of any moneys transferred or appropriated into the Fund 
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as well as all repayments of loans made under this program.  
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Moneys in the Fund may be used only for loans to units of local 
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government requiring reforestation of trees within quarantine 
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areas infested by the emerald ash borer and for no other 
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purpose.  All interest earned on moneys in the Fund must be 
 


 






SB1617
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LRB095 11111 CMK 31444 b




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deposited into the Fund.

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    (c) A loan for the reforestation of trees on public lands 
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within quarantine areas infested by the emerald ash borer may 
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not exceed $5,000,000 to any one unit of local government.  The 
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repayment period for the loan may not exceed 20 years. The unit 
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of local government shall repay, each year, at least 5% of the 
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principal amount borrowed or the remaining balance of the loan, 
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whichever is less.  All repayments of loans must be deposited 
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into the Emerald Ash Borer Revolving Loan Fund.

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    (d) Any loan under this Section to a unit of local 
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government may not exceed the moneys that the unit of local 
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government expends or dedicates for the reforestation project 
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for which the loan is made.


 
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    Section 10. The State Finance Act is amended by adding 
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Section 5.675 as follows:
 
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    (30 ILCS 105/5.675 new)
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    Sec. 5.675. The Emerald Ash Borer Revolving Loan Fund.
 
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    Section 99. Effective date. This Act takes effect upon 
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becoming law.