LOCAL INFRASTRUCTURE LOAN PROG
Summary
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2019
Committee Review
Floor Vote
Governor
Introduced Jan 24, 2019
Last action Mar 29, 2019
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
1
Committee
4
Mar 29, 2019
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Feb 14, 2019
Lower · Passed
To Sales, Amusement & Other Taxes Subcommittee
lower
Feb 5, 2019
Committee
Assigned to Revenue & Finance Committee
lower
Jan 28, 2019
Committee
Referred to Rules Committee
lower
0 primary · 3 co-sponsors
Sponsors
No sponsor information available.
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