Bill Title: Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority may administer a local infrastructure revolving loan program. Provides that the program shall, in instances where sufficient loan funds exist to permit applications to be accepted, provide zero-interest and low-interest loans to units of local government to be used for specified infrastructure projects. Creates the Local Infrastructure Revolving Loan Fund, and provides for the use of the Fund. Provides for a continuing appropriation of moneys from the Fund to the Authority for payment to units of local government for specified purposes. Provides for the maximum amount of the loan to be given and repayment of the loan. Authorizes the Authority to adopt rules to administer the program. Amends the State Finance Act to provide for the Local Infrastructure Revolving Loan Fund.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee [HB0884 Detail]

Text: Latest bill text (Introduced) [HTML]

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Voting Records

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