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Public Act 100-0152


 

Public Act 0152 100TH GENERAL ASSEMBLY

  
  
  

 


 
Public Act 100-0152
 
HB3108 EnrolledLRB100 10456 HLH 20668 b

    AN ACT concerning finance.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Illinois Finance Authority Act is amended by
changing Section 825-85 as follows:
 
    (20 ILCS 3501/825-85)
    Sec. 825-85. Ambulance revolving loan program.
    (a) The Authority and the State Fire Marshal may jointly
administer an ambulance revolving loan program. The program
shall, in instances where sufficient loan funds exist to permit
applications to be accepted, provide zero-interest and
low-interest loans for the purchase of ambulances by a fire
department, a fire protection district, a township fire
department, or a non-profit ambulance service. The Authority
shall make loans based on need, as determined by the State Fire
Marshal.
    (b) The loan funds, subject to appropriation, shall be paid
out of the Ambulance Revolving Loan Fund, a special fund in the
State treasury. The Fund shall consist of any moneys
transferred or appropriated into the Fund, as well as all
repayments of loans made under the program. The Fund shall be
used for loans to fire departments, fire protection districts,
and non-profit ambulance services to purchase ambulances and
for no other purpose. All interest earned on moneys in the Fund
shall be deposited into the Fund. As soon as practical after
the effective date of this amendatory Act of the 97th General
Assembly, all moneys in the Ambulance Revolving Loan Fund shall
be paid by the State Fire Marshal to the Authority, and, on and
after the effective date of this amendatory Act of the 97th
General Assembly, all future moneys deposited into the
Ambulance Revolving Loan Fund under this Section shall be paid
by the State Fire Marshal to the Authority under the continuing
appropriation provision of subsection (b-1) of this Section;
provided that the Authority and the State Fire Marshal enter
into an intergovernmental agreement to use the moneys
transferred to the Authority from the Fund solely for the
purposes for which the moneys would otherwise be used under
this Section and to set forth procedures to otherwise
administer the use of the moneys.
    (b-1) There is hereby appropriated, on a continuing annual
basis in each fiscal year, from the Ambulance Revolving Loan
Fund, the amount, if any, of funds received into the Ambulance
Revolving Loan Fund to the State Fire Marshal for payment to
the Authority for the purposes for which the moneys would
otherwise be used under this Section.
    (c) A loan for the purchase of ambulances may not exceed
$200,000 $100,000 to any fire department, fire protection
district, or non-profit ambulance service. The repayment
period for the loan may not exceed 10 years. The fire
department, fire protection district, or non-profit ambulance
service` shall repay each year at least 5% of the principal
amount borrowed or the remaining balance of the loan, whichever
is less. All repayments of loans shall be deposited into the
Ambulance Revolving Loan Fund.
    (d) The Authority and the State Fire Marshal may adopt
rules in accordance with the Illinois Administrative Procedure
Act to administer the program.
(Source: P.A. 97-901, eff. 1-1-13.)

Effective Date: 1/1/2018