103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB3458

 

Introduced 2/8/2024, by Sen. Michael W. Halpin

 

SYNOPSIS AS INTRODUCED:
 
New Act
30 ILCS 105/5.1015 new

    Creates the Resilient Illinois Revolving Loan Fund Act. Establishes the Resilient Illinois Revolving Loan Fund as a special fund in the State treasury. Provides that moneys in the Fund shall be used to provide low-interest or no-interest loans to counties and nonprofit organizations for local resilience projects that address mitigation of hazards. Specifies that moneys in the Fund may also be used for administrative support associated with the Fund, including the hiring of necessary staff. Tasks the Illinois Emergency Management Agency and Office of Homeland Security with the Fund's administration. Requires the Director of the Illinois Emergency Management Agency and Office of Homeland Security (IEMA-OHS) to apply to the Federal Emergency Management Agency when funding is available under the federal STORM Act to capitalize the Fund. Directs IEMA-OHS to prioritize providing loans to projects it determines to have the greatest impact on eliminating hazards. Provides that the Fund shall be administered, operated, and maintained to remain available in perpetuity to provide loans and other financial assistance. Requires the Agencies to establish application procedures and eligibility criteria for loans from the Fund. Amends the State Finance Act to make a conforming change. Effective immediately.


LRB103 36608 JAG 66717 b

 

 

A BILL FOR

 

SB3458LRB103 36608 JAG 66717 b

1    AN ACT concerning safety.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 1. Short title. This Act may be cited as the
5Resilient Illinois Revolving Loan Fund Act.
 
6    Section 5. Findings; purpose.
7    (a) The General Assembly finds that:
8        (1) Congress enacted the Safeguarding Tomorrow through
9    Ongoing Risk Mitigation (STORM) Act, enacted as Public Law
10    116-284, in 2021 to provide a conduit through which states
11    can establish a revolving loan fund and make loans to
12    local municipalities to conduct hazard mitigation and
13    resiliency projects.
14        (2) As emergencies become more prevalent, it is
15    important for the State to take advantage of as many
16    federal funding opportunities as possible.
17    (b) The purpose of this Act is:
18        (1) to ensure that the State is ready to receive
19    federal funds from the STORM Act by establishing the
20    Resilient Illinois Revolving Loan Fund; and
21        (2) to provide administrative support for the Fund by
22    establishing a position within the Department of Natural
23    Resources, a position within the Environmental Protection

 

 

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1    Agency, and a position within the Illinois Emergency
2    Management Agency and Office of Homeland Security.
 
3    Section 10. Definitions. In this Act:
4    "Agencies" means the Illinois Emergency Management Agency
5and Office of Homeland Security, the Department of Natural
6Resources, and the Environmental Protection Agency.
7    "Directors" means the Director of Natural Resources, the
8Director of the Environmental Protection Agency, and the
9Director of the Illinois Emergency Management Agency and
10Office of Homeland Security.
11    "Full-time equivalent position" means an employment
12position in which the employee's scheduled working hours
13divided by the employer's required hours for a full-time
14workweek equal 1.0.
15    "Fund" means the Resilient Illinois Revolving Loan Fund
16established under subsection (a) of Section 15.
17    "STORM Act" means the federal Safeguarding Tomorrow
18through Ongoing Risk Mitigation Act, enacted as Public Law
19116-284.
 
20    Section 15. Resilient Illinois Revolving Loan Fund.
21    (a) The Resilient Illinois Revolving Loan Fund is
22established as a special fund in the State treasury, which
23shall be used and co-administered by the Environmental
24Protection Agency, the Department of Natural Resources, and

 

 

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1the Illinois Emergency Management Agency and Office of
2Homeland Security. Notwithstanding any other law, the Fund is
3not subject to sweeps, administrative charge-backs, or any
4other fiscal or budgetary maneuver that would in any way
5transfer any amounts from the Fund into any other fund of the
6State. The following moneys shall be deposited into the Fund:
7        (1) moneys from federal or private funding sources;
8        (2) moneys appropriated by the General Assembly to the
9    Fund;
10        (3) investment and interest earnings of the Fund;
11        (4) moneys received as repayment of loans, including,
12    but not limited to, interest and payments received on
13    account of principal; and
14        (5) all other moneys received by the Fund from any
15    other source.
16    (b) Moneys in the Fund shall be used to provide
17low-interest or no-interest loans to municipalities, counties,
18and nonprofit organizations for local resilience projects that
19address mitigation of hazards, including, but not limited to,
20natural disasters. Moneys in the Fund may be used for
21administrative support associated with the Fund, including,
22but not limited to, the hiring of necessary staff.
23    (c) Loans from the Fund shall be for a fixed loan period
24and may be used to satisfy the nonfederal match for federal
25mitigation grants.
26    (d) Expenditures from the Fund shall be co-administered by

 

 

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1the Director of the Environmental Protection Agency, the
2Director of Natural Resources, and the Director of the
3Illinois Emergency Management Agency and Office of Homeland
4Security. When funding is available, the Directors shall apply
5to the Federal Emergency Management Agency under the STORM Act
6to capitalize the Fund. All moneys appropriated or provided
7from the Fund shall be expended. The Agencies shall prioritize
8using moneys in the fund to provide loans for projects that the
9Agencies determine have the greatest impact on eliminating
10hazards.
11    (e) The Fund shall be administered, operated, and
12maintained in order to remain available in perpetuity and to
13provide loans and other financial assistance under this Act
14and pursuant to the STORM Act. All moneys deposited or paid
15into the Fund and any interest earned on the balance of the
16Fund shall be continuously available to the Directors for
17expenditure consistent with this Act.
18    (f) The State Treasurer shall hold and invest moneys in
19the Fund as permitted by law.
20    (g) Moneys expended from the Fund shall be supplemental to
21and shall not take the place of funding that otherwise would be
22appropriated to counties for resilience projects.
23    (h) The Agencies shall establish application procedures
24and eligibility criteria for loans from the Fund. The
25eligibility criteria shall require that a county or nonprofit
26organization demonstrate:

 

 

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1        (1) the need for a loan to address hazard mitigation;
2    and
3        (2) the ability to repay the loan, if required, at a
4    later date.
 
5    Section 20. Administrative structure and employment
6positions.
7    (a) The Agencies may each establish and fill one full-time
8equivalent position in order to implement and administer this
9Act and the Fund.
10    (b) The Department of Natural Resources shall be the
11primary administrator of the Fund, with coordination and
12support from the Environmental Protection Agency and the
13Illinois Emergency Management Agency and Office of Homeland
14Security.
 
15    Section 25. The State Finance Act is amended by adding
16Section 5.1015 as follows:
 
17    (30 ILCS 105/5.1015 new)
18    Sec. 5.1015. The Resilient Illinois Revolving Loan Fund.
 
19    Section 99. Effective date. This Act takes effect upon
20becoming law.