Bill Status of SB 3458   103rd General Assembly

Short Description:  RESILIENT ILLINOIS LOAN FUND

Senate Sponsors
Sen. Michael W. Halpin and Laura M. Murphy

Last Action  View All Actions

DateChamber Action
  5/17/2024SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
New Act
30 ILCS 105/5.1015 new

Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/8/2024SenateFiled with Secretary by Sen. Michael W. Halpin
  2/8/2024SenateFirst Reading
  2/8/2024SenateReferred to Assignments
  2/20/2024SenateAssigned to Appropriations
  3/15/2024SenateRule 2-10 Committee Deadline Established As April 5, 2024
  3/18/2024SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  4/5/2024SenateRule 2-10 Committee Deadline Established As May 3, 2024
  5/3/2024SenateRule 2-10 Committee/3rd Reading Deadline Established As May 17, 2024
  5/17/2024SenateRule 3-9(a) / Re-referred to Assignments

Back To Top