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.)