Bill Text: IL SB3458 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Creates the Resilient Illinois Revolving Loan Fund Act. Establishes the Resilient Illinois Revolving Loan Fund as a special fund in the State treasury. Provides that moneys in the Fund shall be used to provide low-interest or no-interest loans to counties and nonprofit organizations for local resilience projects that address mitigation of hazards. Specifies that moneys in the Fund may also be used for administrative support associated with the Fund, including the hiring of necessary staff. Tasks the Illinois Emergency Management Agency and Office of Homeland Security with the Fund's administration. Requires the Director of the Illinois Emergency Management Agency and Office of Homeland Security (IEMA-OHS) to apply to the Federal Emergency Management Agency when funding is available under the federal STORM Act to capitalize the Fund. Directs IEMA-OHS to prioritize providing loans to projects it determines to have the greatest impact on eliminating hazards. Provides that the Fund shall be administered, operated, and maintained to remain available in perpetuity to provide loans and other financial assistance. Requires the Agencies to establish application procedures and eligibility criteria for loans from the Fund. Amends the State Finance Act to make a conforming change. Effective immediately.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced) 2024-05-17 - Rule 3-9(a) / Re-referred to Assignments [SB3458 Detail]

Download: Illinois-2023-SB3458-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB3458 Introduced 2/8/2024, by Sen. Michael W. Halpin SYNOPSIS AS INTRODUCED:
New Act
30 ILCS 105/5.1015 new
Creates the Resilient Illinois Revolving Loan Fund Act. Establishes the Resilient Illinois Revolving Loan Fund as a special fund in the State treasury. Provides that moneys in the Fund shall be used to provide low-interest or no-interest loans to counties and nonprofit organizations for local resilience projects that address mitigation of hazards. Specifies that moneys in the Fund may also be used for administrative support associated with the Fund, including the hiring of necessary staff. Tasks the Illinois Emergency Management Agency and Office of Homeland Security with the Fund's administration. Requires the Director of the Illinois Emergency Management Agency and Office of Homeland Security (IEMA-OHS) to apply to the Federal Emergency Management Agency when funding is available under the federal STORM Act to capitalize the Fund. Directs IEMA-OHS to prioritize providing loans to projects it determines to have the greatest impact on eliminating hazards. Provides that the Fund shall be administered, operated, and maintained to remain available in perpetuity to provide loans and other financial assistance. Requires the Agencies to establish application procedures and eligibility criteria for loans from the Fund. Amends the State Finance Act to make a conforming change. Effective immediately.
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A BILL FOR
SB3458 LRB103 36608 JAG 66717 b
AN ACT concerning safety.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 1. Short title. This Act may be cited as the
Resilient Illinois Revolving Loan Fund Act.
Section 5. Findings; purpose.
(a) The General Assembly finds that:
(1) Congress enacted the Safeguarding Tomorrow through
Ongoing Risk Mitigation (STORM) Act, enacted as Public Law
116-284, in 2021 to provide a conduit through which states
can establish a revolving loan fund and make loans to
local municipalities to conduct hazard mitigation and
resiliency projects.
(2) As emergencies become more prevalent, it is
important for the State to take advantage of as many
federal funding opportunities as possible.
(b) The purpose of this Act is:
(1) to ensure that the State is ready to receive
federal funds from the STORM Act by establishing the
Resilient Illinois Revolving Loan Fund; and
(2) to provide administrative support for the Fund by
establishing a position within the Department of Natural
Resources, a position within the Environmental Protection

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Agency, and a position within the Illinois Emergency
Management Agency and Office of Homeland Security.
Section 10. Definitions. In this Act:
"Agencies" means the Illinois Emergency Management Agency
and Office of Homeland Security, the Department of Natural
Resources, and the Environmental Protection Agency.
"Directors" means the Director of Natural Resources, the
Director of the Environmental Protection Agency, and the
Director of the Illinois Emergency Management Agency and
Office of Homeland Security.
"Full-time equivalent position" means an employment
position in which the employee's scheduled working hours
divided by the employer's required hours for a full-time
workweek equal 1.0.
"Fund" means the Resilient Illinois Revolving Loan Fund
established under subsection (a) of Section 15.
"STORM Act" means the federal Safeguarding Tomorrow
through Ongoing Risk Mitigation Act, enacted as Public Law
116-284.
Section 15. Resilient Illinois Revolving Loan Fund.
(a) The Resilient Illinois Revolving Loan Fund is
established as a special fund in the State treasury, which
shall be used and co-administered by the Environmental
Protection Agency, the Department of Natural Resources, and

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the Illinois Emergency Management Agency and Office of
Homeland Security. Notwithstanding any other law, the Fund is
not subject to sweeps, administrative charge-backs, or any
other fiscal or budgetary maneuver that would in any way
transfer any amounts from the Fund into any other fund of the
State. The following moneys shall be deposited into the Fund:
(1) moneys from federal or private funding sources;
(2) moneys appropriated by the General Assembly to the
Fund;
(3) investment and interest earnings of the Fund;
(4) moneys received as repayment of loans, including,
but not limited to, interest and payments received on
account of principal; and
(5) all other moneys received by the Fund from any
other source.
(b) Moneys in the Fund shall be used to provide
low-interest or no-interest loans to municipalities, counties,
and nonprofit organizations for local resilience projects that
address mitigation of hazards, including, but not limited to,
natural disasters. Moneys in the Fund may be used for
administrative support associated with the Fund, including,
but not limited to, the hiring of necessary staff.
(c) Loans from the Fund shall be for a fixed loan period
and may be used to satisfy the nonfederal match for federal
mitigation grants.
(d) Expenditures from the Fund shall be co-administered by

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the Director of the Environmental Protection Agency, the
Director of Natural Resources, and the Director of the
Illinois Emergency Management Agency and Office of Homeland
Security. When funding is available, the Directors shall apply
to the Federal Emergency Management Agency under the STORM Act
to capitalize the Fund. All moneys appropriated or provided
from the Fund shall be expended. The Agencies shall prioritize
using moneys in the fund to provide loans for projects that the
Agencies determine have the greatest impact on eliminating
hazards.
(e) The Fund shall be administered, operated, and
maintained in order to remain available in perpetuity and to
provide loans and other financial assistance under this Act
and pursuant to the STORM Act. All moneys deposited or paid
into the Fund and any interest earned on the balance of the
Fund shall be continuously available to the Directors for
expenditure consistent with this Act.
(f) The State Treasurer shall hold and invest moneys in
the Fund as permitted by law.
(g) Moneys expended from the Fund shall be supplemental to
and shall not take the place of funding that otherwise would be
appropriated to counties for resilience projects.
(h) The Agencies shall establish application procedures
and eligibility criteria for loans from the Fund. The
eligibility criteria shall require that a county or nonprofit
organization demonstrate:

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(1) the need for a loan to address hazard mitigation;
and
(2) the ability to repay the loan, if required, at a
later date.
Section 20. Administrative structure and employment
positions.
(a) The Agencies may each establish and fill one full-time
equivalent position in order to implement and administer this
Act and the Fund.
(b) The Department of Natural Resources shall be the
primary administrator of the Fund, with coordination and
support from the Environmental Protection Agency and the
Illinois Emergency Management Agency and Office of Homeland
Security.
Section 25. The State Finance Act is amended by adding
Section 5.1015 as follows:
(30 ILCS 105/5.1015 new)
Sec. 5.1015. The Resilient Illinois Revolving Loan Fund.