Illinois General Assembly - Full Text of HB5283
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Full Text of HB5283  97th General Assembly




HB5283 EnrolledLRB097 19341 PJG 64590 b

1    AN ACT concerning State government.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Illinois Finance Authority Act is amended by
5changing Section 825-80 as follows:
6    (20 ILCS 3501/825-80)
7    Sec. 825-80. Fire truck revolving loan program.
8    (a) This Section is a continuation and re-enactment of the
9fire truck revolving loan program enacted as Section 3-27 of
10the Rural Bond Bank Act by Public Act 93-35, effective June 24,
112003, and repealed by Public Act 93-205, effective January 1,
122004. Under the Rural Bond Bank Act, the program was
13administered by the Rural Bond Bank and the State Fire Marshal.
14    (a-5) For purposes of this Section, "brush truck" means a
15pickup chassis with or equipped with a flatbed or a pickup box.
16The truck must be rated by the manufacturer as between
17three-fourths of a ton and one ton and outfitted with a fire or
18rescue apparatus.
19    (b) The Authority and the State Fire Marshal shall jointly
20administer a fire truck revolving loan program. The program
21shall provide zero-interest loans for the purchase of fire
22trucks by a fire department, a fire protection district, or a
23township fire department. For the purchase of brush trucks by a



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1fire department, a fire protection district, or a township fire
2department, the program shall provide loans at a 2% rate of
3simple interest per year for a brush truck if both the chassis
4and the apparatus are built outside of Illinois, a 1% rate of
5simple interest per year for a brush truck if either the
6chassis or the apparatus is built in Illinois, or a 0% rate of
7interest for a brush truck if both the chassis and the
8apparatus are built in Illinois. The Authority shall make loans
9based on need, as determined by the State Fire Marshal.
10    (c) The loan funds, subject to appropriation, shall be paid
11out of the Fire Truck Revolving Loan Fund, a special fund in
12the State Treasury. The Fund shall consist of any moneys
13transferred or appropriated into the Fund, as well as all
14repayments of loans made under the program and any balance
15existing in the Fund on the effective date of this Section. The
16Fund shall be used for loans to fire departments and fire
17protection districts to purchase fire trucks and brush trucks
18and for no other purpose. All interest earned on moneys in the
19Fund shall be deposited into the Fund.
20    (d) A loan for the purchase of fire trucks or brush trucks
21may not exceed $250,000 to any fire department or fire
22protection district. A loan for the purchase of brush trucks
23may not exceed $100,000 per truck. The repayment period for the
24loan may not exceed 20 years. The fire department or fire
25protection district shall repay each year at least 5% of the
26principal amount borrowed or the remaining balance of the loan,



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1whichever is less. All repayments of loans shall be deposited
2into the Fire Truck Revolving Loan Fund.
3    (e) The Authority and the State Fire Marshal shall adopt
4rules to administer the program.
5    (f) Notwithstanding the repeal of Section 3-27 of the Rural
6Bond Bank Act, all otherwise lawful actions taken on or after
7January 1, 2004 and before the effective date of this Section
8by any person under the authority originally granted by that
9Section 3-27, including without limitation the granting,
10acceptance, and repayment of loans for the purchase of fire
11trucks, are hereby validated, and the rights and obligations of
12all parties to any such loan are hereby acknowledged and
14(Source: P.A. 94-221, eff. 7-14-05.)
15    Section 99. Effective date. This Act takes effect upon
16becoming law.