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