Bill Text: IL HB4334 | 2013-2014 | 98th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Illinois Finance Authority Act. Provides that loans for the purchase of fire trucks or brush trucks may not exceed $350,000 (now, $250,000) to any fire department or fire protection district. Effective immediately.
Spectrum: Slight Partisan Bill (Democrat 17-10)
Status: (Failed) 2014-12-03 - Session Sine Die [HB4334 Detail]
Download: Illinois-2013-HB4334-Introduced.html
Bill Title: Amends the Illinois Finance Authority Act. Provides that loans for the purchase of fire trucks or brush trucks may not exceed $350,000 (now, $250,000) to any fire department or fire protection district. Effective immediately.
Spectrum: Slight Partisan Bill (Democrat 17-10)
Status: (Failed) 2014-12-03 - Session Sine Die [HB4334 Detail]
Download: Illinois-2013-HB4334-Introduced.html
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1 | AN ACT concerning finance.
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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 Illinois Finance Authority Act is amended by | |||||||||||||||||||
5 | changing Section 825-80 as follows:
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6 | (20 ILCS 3501/825-80)
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7 | Sec. 825-80. Fire truck revolving loan program. | |||||||||||||||||||
8 | (a) This Section is a continuation and re-enactment of the | |||||||||||||||||||
9 | fire truck revolving loan program enacted as Section 3-27 of | |||||||||||||||||||
10 | the Rural Bond Bank Act by Public Act 93-35, effective June 24, | |||||||||||||||||||
11 | 2003, and repealed by Public Act 93-205, effective January 1, | |||||||||||||||||||
12 | 2004. Under the Rural Bond Bank Act, the program was | |||||||||||||||||||
13 | administered by the Rural Bond Bank and the State Fire Marshal. | |||||||||||||||||||
14 | (a-5) For purposes of this Section, "brush truck" means a | |||||||||||||||||||
15 | pickup chassis with or equipped with a flatbed or a pickup box. | |||||||||||||||||||
16 | The truck must be rated by the manufacturer as between | |||||||||||||||||||
17 | three-fourths of a ton and one ton and outfitted with a fire or | |||||||||||||||||||
18 | rescue apparatus. | |||||||||||||||||||
19 | (b) The Authority and the State Fire Marshal may jointly | |||||||||||||||||||
20 | administer a fire truck revolving loan program. The program | |||||||||||||||||||
21 | shall, in instances where sufficient loan funds exist to permit | |||||||||||||||||||
22 | applications to be accepted, provide zero-interest and | |||||||||||||||||||
23 | low-interest loans for the purchase of fire trucks by a fire |
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1 | department, a fire protection district, or a township fire | ||||||
2 | department. For the purchase of brush trucks by a fire | ||||||
3 | department, a fire protection district, or a township fire | ||||||
4 | department, the program shall provide loans at a 2% rate of | ||||||
5 | simple interest per year for a brush truck if both the chassis | ||||||
6 | and the apparatus are built outside of Illinois, a 1% rate of | ||||||
7 | simple interest per year for a brush truck if either the | ||||||
8 | chassis or the apparatus is built in Illinois, or a 0% rate of | ||||||
9 | interest for a brush truck if both the chassis and the | ||||||
10 | apparatus are built in Illinois. The Authority shall make loans | ||||||
11 | based on need, as determined by the State Fire Marshal. | ||||||
12 | (c) The loan funds, subject to appropriation, shall be paid | ||||||
13 | out of the Fire Truck Revolving Loan Fund, a special fund in | ||||||
14 | the State Treasury. The Fund shall consist of any moneys | ||||||
15 | transferred or appropriated into the Fund, as well as all | ||||||
16 | repayments of loans made under the program and any balance | ||||||
17 | existing in the Fund on the effective date of this Section. The | ||||||
18 | Fund shall be used for loans to fire departments and fire | ||||||
19 | protection districts to purchase fire trucks and brush trucks | ||||||
20 | and for no other purpose. All interest earned on moneys in the | ||||||
21 | Fund shall be deposited into the Fund. As soon as practical | ||||||
22 | after January 1, 2013 (the effective date of Public Act | ||||||
23 | 97-901), all moneys in the Fire Truck Revolving Loan Fund shall | ||||||
24 | be paid by the State Fire Marshal to the Authority, and, on and | ||||||
25 | after that date, all future moneys deposited into the Fire | ||||||
26 | Truck Revolving Loan Fund under this Section shall be paid by |
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1 | the State Fire Marshal to the Authority under the continuing | ||||||
2 | appropriation provision of subsection (c-1) of this Section; | ||||||
3 | provided that the Authority and the State Fire Marshal enter | ||||||
4 | into an intergovernmental agreement to use the moneys | ||||||
5 | transferred to the Authority from the Fund solely for the | ||||||
6 | purposes for which the moneys would otherwise be used under | ||||||
7 | this Section and to set forth procedures to otherwise | ||||||
8 | administer the use of the moneys. | ||||||
9 | (c-1) There is hereby appropriated, on a continuing annual | ||||||
10 | basis in each fiscal year, from the Fire Truck Revolving Loan | ||||||
11 | Fund, the amount, if any, of funds received into the Fire Truck | ||||||
12 | Revolving Loan Fund to the State Fire Marshal for payment to | ||||||
13 | the Authority for the purposes for which the moneys would | ||||||
14 | otherwise be used under this Section. | ||||||
15 | (d) A loan for the purchase of fire trucks or brush trucks | ||||||
16 | may not exceed $350,000 $250,000 to any fire department or fire | ||||||
17 | protection district. A loan for the purchase of brush trucks | ||||||
18 | may not exceed $100,000 per truck. The repayment period for the | ||||||
19 | loan may not exceed 20 years. The fire department or fire | ||||||
20 | protection district shall repay each year at least 5% of the | ||||||
21 | principal amount borrowed or the remaining balance of the loan, | ||||||
22 | whichever is less. All repayments of loans shall be deposited | ||||||
23 | into the Fire Truck Revolving Loan Fund. | ||||||
24 | (e) The Authority and the State Fire Marshal may adopt | ||||||
25 | rules in accordance with the Illinois Administrative Procedure | ||||||
26 | Act to administer the program.
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1 | (f) Notwithstanding the repeal of Section 3-27 of the Rural | ||||||
2 | Bond Bank Act, all otherwise lawful actions taken on or after | ||||||
3 | January 1, 2004 and before the effective date of this Section | ||||||
4 | by any person under the authority originally granted by that | ||||||
5 | Section 3-27, including without limitation the granting, | ||||||
6 | acceptance, and repayment of loans for the purchase of fire | ||||||
7 | trucks, are hereby validated, and the rights and obligations of | ||||||
8 | all parties to any such loan are hereby acknowledged and | ||||||
9 | confirmed.
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10 | (Source: P.A. 97-900, eff. 8-6-12; 97-901, eff. 1-1-13; 98-463, | ||||||
11 | eff. 8-16-13.)
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12 | Section 99. Effective date. This Act takes effect upon | ||||||
13 | becoming law.
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