96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB0038


 
Introduced 1/14/2009, by Rep. Donald L. Moffitt
 
SYNOPSIS AS INTRODUCED:
 		













20 ILCS 3501/825-81 new






30 ILCS 105/5.719 new










    Amends the Illinois Finance Authority Act and the State Finance Act.  Authorizes the Authority and the State Fire Marshal jointly to administer a revolving loan program for the construction, rehabilitation, remodeling, and expansion of fire stations and the acquisition of land for the construction or expansion of fire stations by fire departments (including township fire departments) and fire protection districts.  Specifies terms of loans.  Creates the necessary special fund in the State treasury.  Effective July 1, 2009.
















LRB096 03381 JAM 13404 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB0038

LRB096 03381 JAM 13404 b






1
    AN ACT concerning State government.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:



 
4
    Section 5. The Illinois Finance Authority Act is amended  by 
5
adding Section 825-81 as follows:
 
6
    (20 ILCS 3501/825-81  new)
7
    Sec. 825-81. Fire station revolving loan program. 
8
    (a) The Authority and the State Fire Marshal may jointly 
9
administer a fire station revolving loan program. The program 
10
may provide zero-interest loans for the construction, 
11
rehabilitation, remodeling, or expansion of a fire station or 
12
the acquisition of land for the construction or expansion of a 
13
fire station by a fire department, a fire protection district, 
14
or a township fire department. Once the program receives 
15
funding, the Authority shall make loans based on need, as 
16
determined by the State Fire Marshal.
17
    (b) The loan funds, subject to appropriation, may be paid 
18
out of the Fire Station Revolving Loan Fund, a special fund in 
19
the State treasury. The Fund may consist of any moneys 
20
transferred or appropriated into the Fund, as well as all 
21
repayments of loans made under the program. Once the program 
22
receives funding, the Fund may be used for loans to fire 
23
departments and fire protection districts to construct, 
 


 






HB0038
- 2 -
LRB096 03381 JAM 13404 b




1
rehabilitate, remodel, or expand fire stations or acquire land 
2
for the construction or expansion of fire stations and for no 
3
other purpose. All interest earned on moneys in the Fund shall 
4
be deposited into the Fund.
5
    (c) A loan under the program may not exceed $2,000,000 to 
6
any fire department or fire protection district. The repayment 
7
period for the loan may not exceed 20 years. The fire 
8
department or fire protection district shall repay each year at 
9
least 5% of the principal amount borrowed or the remaining 
10
balance of the loan, whichever is less. All repayments of loans 
11
shall be deposited into the Fire Station Revolving Loan Fund.
 
12
    Section 10. The State Finance Act is amended by adding 
13
Section 5.719 as follows:
 
14
    (30 ILCS 105/5.719 new)
15
    Sec. 5.719. The Fire Station Revolving Loan  Fund.
 

16
    Section 99. Effective date. This Act takes effect July 1, 
17
2009.