Bill > HB1567

This bill establishes a Squad Car Revolving Loan Program jointly administered by the Illinois Finance Authority and the Illinois Law Enforcement Training and Standards Board to help local law enforcement agencies purchase squad cars. The program will offer zero-interest loans of up to $250,000 to local law enforcement agencies, with loans paid from a special Squad Car Revolving Loan Fund created in the State Treasury. To be eligible, agencies must repay at least 50% of any previous loans before receiving subsequent funding, and each loan must be repaid within 5 years, with at least 20% of the principal paid annually. The fund will consist of appropriated moneys and loan repayments, and can only be used to purchase squad cars. Local law enforcement agencies are defined as municipal or county agencies responsible for maintaining public order and enforcing criminal laws. The Illinois Finance Authority, in consultation with the Law Enforcement Training and Standards Board, may develop rules to implement the program, ensuring that loans are distributed based on need as determined by the Standards Board.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1567&GAID=18&DocTypeID=HB&SessionID=114&GA=104