MOFFITT-HARTKE-BLACK-BOST-BERNS AND CROTTY. 15 ILCS 505/21 new 30 ILCS 105/5.570 new Amends the State Treasurer Act. Provides that the Treasurer shall administer a road grader revolving loan program to provide loans to units local government for the purchase of road graders that are manufactured in the United States of America. Provides that the Treasurer shall determine eligibility for the loans based on need as determined by the Treasurer, and that the loan funds, subject to appropriation, shall be paid out of the Road Grader Revolving Loan Fund, a special fund in the State treasury. Provides that (i) the aggregate outstanding principal amount of loans to any one unit of local government for the purchase of road graders may not exceed $350,000; (ii) the repayment period for the loan may not exceed 15 years; and (iii) the unit of local government must repay each year at least 5% of the principal amount borrowed or the remaining balance of the loan, whichever is less. Provides that the the loan interest is 3% annually. Provides that the Treasurer must adopt rules to administer the program. Amends the State Finance Act to create the Fund. FISCAL NOTE (State Treasurer) HB 4326 will have a financial impact on the State. The start-up costs of this program would depend on the number of local governments to be loaned money in the first year. With 10 local governments, the cost for the loans would be a one-time start-up increase of $1,000,000 to $3,500,000. This money would be repaid over 15 years and could be used to make other loans which would not increase any future years' expenditures. JAN-31-2002 H FILED WITH CLERK JAN-31-2002 H ADDED AS A JOINT SPONSOR HARTKE JAN-31-2002 H ADDED AS A JOINT SPONSOR BLACK JAN-31-2002 H ADDED AS A JOINT SPONSOR BOST JAN-31-2002 H ADDED AS A JOINT SPONSOR BERNS FEB-01-2002 H FIRST READING FEB-01-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-05-2002 H ASSIGNED TO COMMITTEE CONST OFFICER FEB-13-2002 H ADDED AS A CO-SPONSOR CROTTY FEB-14-2002 H DO PASS/SHORT DEBATE 008-000-000 HCOF FEB-14-2002 H PLACED CALENDAR 2ND READING-SHORT DEBATE FEB-27-2002 H FISCAL NOTE FILED FEB-27-2002 H CALENDAR ORDER 2ND READING-SHORT DEBATE MAR-22-2002 H SECOND READING-SHORT DEBATE MAR-22-2002 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE APR-04-2002 H PLCD CAL ORDER 3RD READING-SHORT DEBATE APR-04-2002 H THIRD READING/SHORT DEBATE/PASSED 117-000-000 APR-09-2002 S ARRIVE IN SENATE APR-09-2002 S PLACED CALENDAR ORDER OF FIRST READING 02-04-10 JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary