Environment & Energy Committee

Filed: 3/10/2010

 

 


 

 


 
09600HB5226ham001 LRB096 18771 JDS 38105 a

1
AMENDMENT TO HOUSE BILL 5226

2     AMENDMENT NO. ______. Amend House Bill 5226 by replacing
3 everything after the enacting clause with the following:
 
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:

 

 

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1         (1) to accept and retain funds from grant awards,
2     appropriations, transfers, and payments of interest and
3     principal;
4         (2) to make direct loans at or below market interest
5     rates and to provide additional subsidization, including,
6     but not limited to, forgiveness of principal, negative
7     interest rates, and grants, to any eligible local
8     government unit to finance the construction of wastewater
9     treatments works and projects that fulfill federal State
10     Revolving Fund grant requirements for a green project
11     reserve;
12         (2.5) with respect to funds provided under the American
13     Recovery and Reinvestment Act of 2009:
14             (A) to make direct loans at or below market
15         interest rates to any eligible local government unit
16         and to provide additional subsidization to any
17         eligible local government unit, including, but not
18         limited to, forgiveness of principal, negative
19         interest rates, and grants;
20             (B) to make direct loans at or below market
21         interest rates to any eligible local government unit to
22         buy or refinance debt obligations for treatment works
23         incurred on or after October 1, 2008; and
24             (C) to provide additional subsidization,
25         including, but not limited to, forgiveness of
26         principal, negative interest rates, and grants for

 

 

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1         treatment works incurred on or after October 1, 2008;
2         (3) to make direct loans at or below market interest
3     rates and to provide additional subsidization, including,
4     but not limited to, forgiveness of principal, negative
5     interest rates, and grants, to any eligible local
6     government unit to buy or refinance debt obligations for
7     costs treatment works incurred after March 7, 1985, for the
8     construction of wastewater treatment works, and projects
9     that fulfill federal State Revolving Fund grant
10     requirements for a green project reserve;
11         (3.5) to make direct loans at or below market interest
12     rates for the implementation of a management program
13     established under Section 319 of the Federal Water
14     Pollution Control Act, as amended;
15         (4) to guarantee or purchase insurance for local
16     obligations where such action would improve credit market
17     access or reduce interest rates;
18         (5) as a source of revenue or security for the payment
19     of principal and interest on revenue or general obligation
20     bonds issued by the State or any political subdivision or
21     instrumentality thereof, if the proceeds of such bonds will
22     be deposited in the Fund;
23         (6) to finance the reasonable costs incurred by the
24     Agency in the administration of the Fund; and
25         (7) to transfer funds to the Public Water Supply Loan
26     Program.

 

 

09600HB5226ham001 - 4 - LRB096 18771 JDS 38105 a

1     (c) The Loan Support Program shall be used and administered
2 by the Agency for the following purposes:
3         (1) to accept and retain funds from grant awards and
4     appropriations;
5         (2) to finance the reasonable costs incurred by the
6     Agency in the administration of the Fund, including
7     activities under Title III of this Act, including the
8     administration of the State construction grant program;
9         (3) to transfer funds to the Water Pollution Control
10     Loan Program and the Public Water Supply Loan Program;
11         (4) to accept and retain a portion of the loan
12     repayments;
13         (5) to finance the development of the low interest loan
14     programs program for water pollution control and public
15     water supply projects;
16         (6) to finance the reasonable costs incurred by the
17     Agency to provide technical assistance for public water
18     supplies; and
19         (7) to finance the reasonable costs incurred by the
20     Agency for public water system supervision programs, to
21     administer or provide for technical assistance through
22     source water protection programs, to develop and implement
23     a capacity development strategy, to delineate and assess
24     source water protection areas, and for an operator
25     certification program in accordance with Section 1452 of
26     the federal Safe Drinking Water Act.

 

 

09600HB5226ham001 - 5 - LRB096 18771 JDS 38105 a

1     (d) The Public Water Supply Loan Program shall be used and
2 administered by the Agency to provide assistance to local
3 government units and privately owned community water supplies
4 for public water supplies for the following public purposes:
5         (1) to accept and retain funds from grant awards,
6     appropriations, transfers, and payments of interest and
7     principal;
8         (2) to make direct loans at or below market interest
9     rates and to provide additional subsidization, including,
10     but not limited to, forgiveness of principal, negative
11     interest rates, and grants, to any eligible local
12     government unit or to any eligible privately owned
13     community water supply to finance the construction of water
14     supplies and projects that fulfill federal State Revolving
15     Fund grant requirements for a green project reserve;
16         (2.5) with respect to funds provided under the American
17     Recovery and Reinvestment Act of 2009:
18             (A) to make direct loans at or below market
19         interest rates to any eligible local government unit or
20         to any eligible privately owned community water
21         supply, and to provide additional subsidization to any
22         eligible local government unit or to any eligible
23         privately owned community water supply, including, but
24         not limited to, forgiveness of principal, negative
25         interest rates, and grants;
26             (B) to buy or refinance the debt obligation of a

 

 

09600HB5226ham001 - 6 - LRB096 18771 JDS 38105 a

1         local government unit for costs incurred on or after
2         October 1, 2008; and
3             (C) to provide additional subsidization,
4         including, but not limited to, forgiveness of
5         principal, negative interest rates, and grants for a
6         local government unit for costs incurred on or after
7         October 1, 2008;
8         (3) to make direct loans at or below market interest
9     rates and to provide additional subsidization, including,
10     but not limited to, forgiveness of principal, negative
11     interest rates, and grants, to any eligible local
12     government unit or to any eligible privately owned
13     community water supply to buy or refinance the debt
14     obligations obligation of a local government unit for costs
15     incurred on or after July 17, 1997, for the construction of
16     water supplies and projects that fulfill federal State
17     Revolving Fund requirements for a green project reserve;
18         (4) to guarantee local obligations where such action
19     would improve credit market access or reduce interest
20     rates;
21         (5) as a source of revenue or security for the payment
22     of principal and interest on revenue or general obligation
23     bonds issued by the State or any political subdivision or
24     instrumentality thereof, if the proceeds of such bonds will
25     be deposited into the Fund; and
26         (6) to transfer funds to the Water Pollution Control

 

 

09600HB5226ham001 - 7 - LRB096 18771 JDS 38105 a

1     Loan Program.
2     (e) The Agency is designated as the administering agency of
3 the Fund. The Agency shall submit to the Regional Administrator
4 of the United States Environmental Protection Agency an
5 intended use plan which outlines the proposed use of funds
6 available to the State. The Agency shall take all actions
7 necessary to secure to the State the benefits of the federal
8 Water Pollution Control Act and the federal Safe Drinking Water
9 Act, as now or hereafter amended.
10     (f) The Agency shall have the power to enter into
11 intergovernmental agreements with the federal government or
12 the State, or any instrumentality thereof, for purposes of
13 capitalizing the Water Revolving Fund. Moneys on deposit in the
14 Water Revolving Fund may be used for the creation of reserve
15 funds or pledged funds that secure the obligations of repayment
16 of loans made pursuant to this Section. For the purpose of
17 obtaining capital for deposit into the Water Revolving Fund,
18 the Agency may also enter into agreements with financial
19 institutions and other persons for the purpose of selling loans
20 and developing a secondary market for such loans. The Agency
21 shall have the power to create and establish such reserve funds
22 and accounts as may be necessary or desirable to accomplish its
23 purposes under this subsection and to allocate its available
24 moneys into such funds and accounts. Investment earnings on
25 moneys held in the Water Revolving Fund, including any reserve
26 fund or pledged fund, shall be deposited into the Water

 

 

09600HB5226ham001 - 8 - LRB096 18771 JDS 38105 a

1 Revolving Fund.
2 (Source: P.A. 96-8, eff. 4-28-09.)
 
3     Section 99. Effective date. This Act takes effect upon
4 becoming law.".