Rep. Donald L. Moffitt

Filed: 3/24/2011

 

 


 

 


 
09700HB2313ham001LRB097 07892 PJG 53366 a

1
AMENDMENT TO HOUSE BILL 2313

2    AMENDMENT NO. ______. Amend House Bill 2313 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Finance Authority Act is amended
5by changing Section 825-80 as follows:
 
6    (20 ILCS 3501/825-80)
7    Sec. 825-80. Fire truck revolving loan program.
8    (a) This Section is a continuation and re-enactment of the
9fire truck revolving loan program enacted as Section 3-27 of
10the Rural Bond Bank Act by Public Act 93-35, effective June 24,
112003, and repealed by Public Act 93-205, effective January 1,
122004. Under the Rural Bond Bank Act, the program was
13administered by the Rural Bond Bank and the State Fire Marshal.
14    (a-5) For purposes of this Section, "brush truck" means a
15pickup chassis with or equipped with a flatbed or a pickup box.
16The truck must be rated by the manufacturer as between

 

 

09700HB2313ham001- 2 -LRB097 07892 PJG 53366 a

1three-fourths of a ton and one ton and outfitted with a fire or
2rescue apparatus.
3    (b) The Authority and the State Fire Marshal shall jointly
4administer a fire truck revolving loan program. The program
5shall provide zero-interest loans for the purchase of fire
6trucks by a fire department, a fire protection district, or a
7township fire department. For the purchase of brush trucks by a
8fire department, a fire protection district, or a township fire
9department, the program shall provide loans at a 2% rate of
10simple interest per year for a brush truck if both the chassis
11and the apparatus are built outside of Illinois, a 1% rate of
12simple interest per year for a brush truck if either the
13chassis or the apparatus is built in Illinois, or a 0% rate of
14interest for a brush truck if both the chassis and the
15apparatus are built in Illinois. The Authority shall make loans
16based on need, as determined by the State Fire Marshal.
17    (c) The loan funds, subject to appropriation, shall be paid
18out of the Fire Truck Revolving Loan Fund, a special fund in
19the State Treasury. The Fund shall consist of any moneys
20transferred or appropriated into the Fund, as well as all
21repayments of loans made under the program and any balance
22existing in the Fund on the effective date of this Section. The
23Fund shall be used for loans to fire departments and fire
24protection districts to purchase fire trucks and brush trucks
25and for no other purpose. All interest earned on moneys in the
26Fund shall be deposited into the Fund.

 

 

09700HB2313ham001- 3 -LRB097 07892 PJG 53366 a

1    (d) A loan for the purchase of fire trucks or brush trucks
2may not exceed $250,000 to any fire department or fire
3protection district. A loan for the purchase of brush trucks
4may not exceed $100,000 per truck. The repayment period for the
5loan may not exceed 20 years. The fire department or fire
6protection district shall repay each year at least 5% of the
7principal amount borrowed or the remaining balance of the loan,
8whichever is less. All repayments of loans shall be deposited
9into the Fire Truck Revolving Loan Fund.
10    (e) The Authority and the State Fire Marshal shall adopt
11rules to administer the program.
12    (f) Notwithstanding the repeal of Section 3-27 of the Rural
13Bond Bank Act, all otherwise lawful actions taken on or after
14January 1, 2004 and before the effective date of this Section
15by any person under the authority originally granted by that
16Section 3-27, including without limitation the granting,
17acceptance, and repayment of loans for the purchase of fire
18trucks, are hereby validated, and the rights and obligations of
19all parties to any such loan are hereby acknowledged and
20confirmed.
21(Source: P.A. 94-221, eff. 7-14-05.)
 
22    Section 99. Effective date. This Act takes effect upon
23becoming law.".