IFA-SCHOOL BUS REVOLVING LOAN House SponsorsRep. Donald L. Moffitt 1/8/2013HouseSession Sine Die 20 ILCS 3501/825-87 new30 ILCS 105/5.786 new Amends the Illinois Finance Authority Act. Creates a school bus revolving loan program. Provides for a 2% rate of interest on loans for the purchase of a school bus if the chassis and the passenger compartment are built outside of Illinois, a 1% rate of interest for a school bus if either the chassis or the passenger compartment is built in Illinois, or a 0% rate of interest for a school bus if both the chassis and the passenger compartment are built in Illinois. Creates the School Bus Revolving Loan Fund as a special fund in the State treasury. Provides that loan funds shall be paid out of the Fund, and repayments of loans shall be deposited into the Fund. Provides that a loan to a school district or unit of local government for the purchase of school buses may not exceed $100,000. Provides that the repayment period may not exceed 20 years. Effective immediately. 2/23/2011HouseFiled with the Clerk by Rep. Donald L. Moffitt 2/23/2011HouseFirst Reading 2/23/2011HouseReferred to Rules Committee 2/28/2011HouseAssigned to Executive Committee 3/2/2011HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Donald L. Moffitt 3/2/2011HouseHouse Committee Amendment No. 1 Referred to Rules Committee 3/17/2011HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40 3/17/2011HouseRule 19(a) / Re-referred to Rules Committee 1/8/2013HouseSession Sine Die