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1 | AN ACT concerning safety.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Environmental Protection Act is amended by | ||||||||||||||||||||||||
5 | changing Section 19.3 as follows:
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6 | (415 ILCS 5/19.3) (from Ch. 111 1/2, par. 1019.3)
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7 | Sec. 19.3. Water Revolving Fund.
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8 | (a) There is hereby created within the State Treasury a | ||||||||||||||||||||||||
9 | Water Revolving
Fund, consisting of 3 interest-bearing special | ||||||||||||||||||||||||
10 | programs to be known as the
Water Pollution Control Loan | ||||||||||||||||||||||||
11 | Program, the Public Water Supply Loan Program, and
the Loan | ||||||||||||||||||||||||
12 | Support Program, which shall be used and administered by the | ||||||||||||||||||||||||
13 | Agency.
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14 | (b) The Water Pollution Control Loan Program shall be used | ||||||||||||||||||||||||
15 | and administered
by the Agency to provide assistance for the | ||||||||||||||||||||||||
16 | following purposes:
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17 | (1) to accept and retain funds from grant awards, | ||||||||||||||||||||||||
18 | appropriations,
transfers, and payments of interest and | ||||||||||||||||||||||||
19 | principal;
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20 | (2) to make direct loans at or below market interest | ||||||||||||||||||||||||
21 | rates and to provide additional subsidization, including, | ||||||||||||||||||||||||
22 | but not limited to, forgiveness of principal, negative | ||||||||||||||||||||||||
23 | interest rates, and grants, to any
eligible local |
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1 | government unit to finance the construction of wastewater
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2 | treatments works;
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3 | (2.5) with respect to funds provided under the American | ||||||
4 | Recovery and Reinvestment Act of 2009: | ||||||
5 | (A) to make direct loans at or below market | ||||||
6 | interest rates to any eligible local government unit | ||||||
7 | and to provide additional subsidization to any | ||||||
8 | eligible local government unit, including, but not | ||||||
9 | limited to, forgiveness of principal, negative | ||||||
10 | interest rates, and grants; | ||||||
11 | (B) to make direct loans at or below market | ||||||
12 | interest rates to any eligible local government unit to | ||||||
13 | buy or refinance debt obligations for treatment works | ||||||
14 | incurred on or after October 1, 2008; and | ||||||
15 | (C) to provide additional subsidization, | ||||||
16 | including, but not limited to, forgiveness of | ||||||
17 | principal, negative interest rates, and grants for | ||||||
18 | treatment works incurred on or after October 1, 2008;
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19 | (3) to make direct loans at or below market interest | ||||||
20 | rates and to provide additional subsidization, including, | ||||||
21 | but not limited to, forgiveness of principal, negative | ||||||
22 | interest rates, and grants, to any
eligible local | ||||||
23 | government unit to buy or refinance debt obligations for | ||||||
24 | costs
treatment works incurred after March 7, 1985 , for the | ||||||
25 | construction of wastewater treatment works ;
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26 | (3.5) to make direct loans at or below market interest |
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1 | rates for the
implementation of a management program | ||||||
2 | established under Section 319 of the
Federal Water | ||||||
3 | Pollution Control Act, as amended;
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4 | (4) to guarantee or purchase insurance for local | ||||||
5 | obligations
where such action would improve credit market | ||||||
6 | access or reduce interest rates;
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7 | (5) as a source of revenue or security for the payment | ||||||
8 | of principal and
interest on revenue or general obligation | ||||||
9 | bonds issued by the State or any
political subdivision or | ||||||
10 | instrumentality thereof, if the proceeds of such
bonds will | ||||||
11 | be deposited in the Fund;
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12 | (6) to finance the reasonable costs incurred by the | ||||||
13 | Agency in the
administration of the Fund; and
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14 | (7) to transfer funds to the Public Water Supply Loan | ||||||
15 | Program.
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16 | (c) The Loan Support Program shall be used and administered | ||||||
17 | by the Agency
for the following purposes:
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18 | (1) to accept and retain funds from grant awards and | ||||||
19 | appropriations;
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20 | (2) to finance the reasonable costs incurred by the | ||||||
21 | Agency in the
administration of the Fund, including | ||||||
22 | activities under Title III of this
Act, including the | ||||||
23 | administration of the State
construction grant program;
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24 | (3) to transfer funds to the Water Pollution Control | ||||||
25 | Loan
Program and the Public Water Supply Loan Program;
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26 | (4) to accept and retain a portion of the loan |
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1 | repayments;
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2 | (5) to finance the development of the low interest loan
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3 | programs program for water pollution control and public | ||||||
4 | water supply projects;
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5 | (6) to finance the reasonable costs incurred by the | ||||||
6 | Agency to provide
technical assistance for public water | ||||||
7 | supplies; and
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8 | (7) to finance the reasonable costs incurred by the | ||||||
9 | Agency for
public water system supervision programs, to | ||||||
10 | administer or provide for
technical assistance through | ||||||
11 | source water protection programs, to develop and
implement | ||||||
12 | a capacity development strategy, to delineate and assess | ||||||
13 | source water
protection areas, and for an operator | ||||||
14 | certification program in accordance with
Section 1452 of | ||||||
15 | the federal Safe Drinking Water Act.
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16 | (d) The Public Water Supply Loan Program shall be used and | ||||||
17 | administered by
the Agency to provide assistance to local | ||||||
18 | government units and privately owned
community water supplies | ||||||
19 | for public water
supplies for the following public purposes:
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20 | (1) to accept and retain funds from grant awards, | ||||||
21 | appropriations,
transfers, and payments of interest and | ||||||
22 | principal;
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23 | (2) to make direct loans at or below market interest | ||||||
24 | rates and to provide additional subsidization, including, | ||||||
25 | but not limited to, forgiveness of principal, negative | ||||||
26 | interest rates, and grants, to any eligible
local |
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1 | government unit or to any eligible privately owned | ||||||
2 | community water supply
to finance the construction of water | ||||||
3 | supplies;
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4 | (2.5) with respect to funds provided under the American | ||||||
5 | Recovery and Reinvestment Act of 2009: | ||||||
6 | (A) to make direct loans at or below market | ||||||
7 | interest rates to any eligible local government unit or | ||||||
8 | to any eligible privately owned community water | ||||||
9 | supply, and to provide additional subsidization to any | ||||||
10 | eligible local government unit or to any eligible | ||||||
11 | privately owned community water supply, including, but | ||||||
12 | not limited to, forgiveness of principal, negative | ||||||
13 | interest rates, and grants; | ||||||
14 | (B) to buy or refinance the debt obligation of a | ||||||
15 | local government unit for costs incurred on or after | ||||||
16 | October 1, 2008; and
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17 | (C) to provide additional subsidization, | ||||||
18 | including, but not limited to, forgiveness of | ||||||
19 | principal, negative interest rates, and grants for a | ||||||
20 | local government unit for costs incurred on or after | ||||||
21 | October 1, 2008;
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22 | (3) to make direct loans at or below market interest | ||||||
23 | rates and to provide additional subsidization, including, | ||||||
24 | but not limited to, forgiveness of principal, negative | ||||||
25 | interest rates, and grants, to any eligible local | ||||||
26 | government unit or to any eligible privately owned |
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1 | community water supply to buy or refinance the debt | ||||||
2 | obligations obligation of a local government unit for
costs | ||||||
3 | incurred on or after July 17, 1997 , for the construction of | ||||||
4 | water supplies ;
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5 | (4) to guarantee local obligations where such action | ||||||
6 | would improve credit
market access or reduce interest | ||||||
7 | rates;
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8 | (5) as a source of revenue or security for the payment | ||||||
9 | of principal and
interest on revenue or general obligation | ||||||
10 | bonds issued by the State or any
political subdivision or | ||||||
11 | instrumentality thereof, if the proceeds of such
bonds will | ||||||
12 | be deposited into the Fund; and
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13 | (6) to transfer funds to the Water Pollution Control | ||||||
14 | Loan Program.
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15 | (e) The Agency is designated as the administering agency of | ||||||
16 | the Fund.
The Agency shall submit to the Regional Administrator | ||||||
17 | of the United States
Environmental Protection Agency an | ||||||
18 | intended use plan which outlines the
proposed use of funds | ||||||
19 | available to the State. The Agency shall take all
actions | ||||||
20 | necessary to secure to the State the benefits of the federal
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21 | Water Pollution Control Act and the federal Safe Drinking Water | ||||||
22 | Act, as now
or hereafter amended.
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23 | (f) The Agency shall have the power to enter into | ||||||
24 | intergovernmental
agreements with the federal government or | ||||||
25 | the State, or any instrumentality
thereof, for purposes of | ||||||
26 | capitalizing the Water Revolving Fund.
Moneys on deposit in the |
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1 | Water Revolving Fund may be used for the
creation of reserve | ||||||
2 | funds or pledged funds that secure the obligations
of repayment | ||||||
3 | of loans made pursuant to this Section. For the purpose
of | ||||||
4 | obtaining capital for deposit into the Water Revolving Fund, | ||||||
5 | the
Agency may also enter into agreements with financial | ||||||
6 | institutions and other
persons for the purpose of selling loans | ||||||
7 | and developing a secondary market
for such loans. The Agency | ||||||
8 | shall have the power to create and establish such
reserve funds | ||||||
9 | and accounts as may be necessary or desirable to accomplish its
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10 | purposes under this subsection and to allocate its available | ||||||
11 | moneys into such
funds and accounts. Investment earnings on | ||||||
12 | moneys held in the Water Revolving
Fund, including any reserve | ||||||
13 | fund or pledged fund, shall be deposited into the
Water | ||||||
14 | Revolving Fund.
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15 | (Source: P.A. 96-8, eff. 4-28-09.)
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16 | Section 99. Effective date. This Act takes effect upon | ||||||
17 | becoming law.
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