HB5226 Enrolled LRB096 18771 JDS 34156 b

1     AN ACT concerning safety.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Environmental Protection Act is amended by
5 changing Section 19.3 as follows:
 
6     (415 ILCS 5/19.3)  (from Ch. 111 1/2, par. 1019.3)
7     Sec. 19.3. Water Revolving Fund.
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.
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:
17         (1) to accept and retain funds from grant awards,
18     appropriations, transfers, and payments of interest and
19     principal;
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
2     treatments works and projects that fulfill federal State
3     Revolving Fund grant requirements for a green project
4     reserve;
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;
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;
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;
8         (4) to guarantee or purchase insurance for local
9     obligations where such action would improve credit market
10     access or reduce interest rates;
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;
16         (6) to finance the reasonable costs incurred by the
17     Agency in the administration of the Fund; and
18         (7) to transfer funds to the Public Water Supply Loan
19     Program.
20     (c) The Loan Support Program shall be used and administered
21 by the Agency for the following purposes:
22         (1) to accept and retain funds from grant awards and
23     appropriations;
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;
2         (3) to transfer funds to the Water Pollution Control
3     Loan Program and the Public Water Supply Loan Program;
4         (4) to accept and retain a portion of the loan
5     repayments;
6         (5) to finance the development of the low interest loan
7     programs program for water pollution control and public
8     water supply projects;
9         (6) to finance the reasonable costs incurred by the
10     Agency to provide technical assistance for public water
11     supplies; and
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.
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:
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;
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
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;
11         (4) to guarantee local obligations where such action
12     would improve credit market access or reduce interest
13     rates;
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
19         (6) to transfer funds to the Water Pollution Control
20     Loan Program.
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.
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
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.
21 (Source: P.A. 96-8, eff. 4-28-09.)
 
22     Section 99. Effective date. This Act takes effect upon
23 becoming law.