Illinois House Bill 3053 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Amended) [HTML]

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.

IFA-SCHOOL BUS REVOLVING LOAN

Rep. Donald Moffitt [R]

Date	Chamber	Action
2013-01-08	House	Session Sine Die
2011-03-17	House	Rule 19(a) / Re-referred to Rules Committee
2011-03-17	House	House Committee Amendment No. 1 Tabled Pursuant to Rule 40
2011-03-02	House	House Committee Amendment No. 1 Referred to Rules Committee
2011-03-02	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Donald L. Moffitt
2011-02-28	House	Assigned to Executive Committee
2011-02-23	House	Referred to Rules Committee
2011-02-23	House	First Reading
2011-02-23	House	Filed with the Clerk by Rep. Donald L. Moffitt

Chapter	Article	Section	Citation Type	Statute Text
20	3501	825-87	New Code	See Bill Text
30	105	5.786	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3053&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/HB/09700HB3053.htm
Text	https://www.ilga.gov/legislation/97/HB/09700HB3053ham001.htm