Illinois SB 3018: $09 DMA OCE

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SB3018 EngrossedLRB104 20258 HLH 33709 b

1 AN ACT concerning finance.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Finance Authority Act is amended 

5by changing Sections 825-80, 825-81, and 825-85 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112003, and repealed by Public Act 93-205, effective January 1, 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 

14Marshal.

15 (a-5) For purposes of this Section, "brush truck" means a 

16pickup chassis with or equipped with a flatbed or a pickup box. 

17The truck must be rated by the manufacturer as between 

18three-fourths of a ton and one ton and outfitted with a fire or 

19rescue apparatus. 

20 (b) The Authority and the State Fire Marshal may jointly 

21administer a fire truck revolving loan program. The program 

22shall, in instances where sufficient loan funds exist to 

23permit applications to be accepted, provide zero-interest and 

SB3018 Engrossed- 2 -LRB104 20258 HLH 33709 b

1low-interest loans for the purchase of fire trucks by a fire 

2department, a fire protection district, or a township fire 

3department. For the purchase of brush trucks by a fire 

4department, a fire protection district, or a township fire 

5department, the program shall provide loans at a 2% rate of 

6simple interest per year for a brush truck i