summary
Introduced
01/29/2026
01/29/2026
In Committee
02/10/2026
02/10/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Finance Authority Act. Makes changes concerning the fire truck revolving loan program, the fire station revolving loan program, and the ambulance revolving loan program. Provides that those loans shall be paid out of certain locally held funds established by the Illinois Finance Authority. Provides that loans for the purchase of fire trucks may not exceed $750,000 per truck. Provides that loans for the purchase of ambulances may not exceed $350,000 to any fire department, fire protection district, or non-profit ambulance service. Makes other changes.
AI Summary
This bill amends the Illinois Finance Authority Act to modify three revolving loan programs: the fire truck, fire station, and ambulance programs. Key changes include specifying that loans for these programs will be paid out of locally held funds established by the Illinois Finance Authority (IFA), rather than from state appropriations. For the fire truck program, loans for purchasing fire trucks are capped at $750,000 per truck. For the ambulance program, loans for ambulances are limited to $350,000 to any eligible entity, which includes fire departments, fire protection districts, and non-profit ambulance services. The bill also makes other technical adjustments to these programs.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Senate Financial Institutions Committee Hearing (10:00:00 2/25/2026 Room 212) (on 02/25/2026)
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