093_HB3506ham001
LRB093 02586 EFG 12634 a
1 AMENDMENT TO HOUSE BILL 3506
2 AMENDMENT NO. . Amend House Bill 3506 on page 1, in
3 line 5, by changing "Section 13" to "Sections 13 and 19.3";
4 and
5 on page 5, below line 20, by inserting the following:
6 "(415 ILCS 5/19.3) (from Ch. 111 1/2, par. 1019.3)
7 Sec. 19.3. Water Revolving Fund.
8 (a) There is hereby created within the State Treasury a
9 Water Revolving Fund, consisting of 3 interest-bearing
10 special programs to be known as the Water Pollution Control
11 Loan Program, the Public Water Supply Loan Program, and the
12 Loan Support Program, which shall be used and administered by
13 the Agency.
14 (b) The Water Pollution Control Loan Program shall be
15 used and administered by the Agency to provide assistance for
16 the following purposes:
17 (1) to accept and retain funds from grant awards,
18 appropriations, transfers, and payments of interest and
19 principal;
20 (2) to make direct loans at or below market
21 interest rates to any eligible local government unit to
22 finance the construction of wastewater treatments works;
-2- LRB093 02586 EFG 12634 a
1 (3) to make direct loans at or below market
2 interest rates to any eligible local government unit to
3 buy or refinance debt obligations for treatment works
4 incurred after March 7, 1985;
5 (3.5) to make direct loans at or below market
6 interest rates for the implementation of a management
7 program established under Section 319 of the Federal
8 Water Pollution Control Act, as amended;
9 (4) to guarantee or purchase insurance for local
10 obligations where such action would improve credit market
11 access or reduce interest rates;
12 (5) as a source of revenue or security for the
13 payment of principal and interest on revenue or general
14 obligation bonds issued by the State or any political
15 subdivision or instrumentality thereof, if the proceeds
16 of such bonds will be deposited in the Fund;
17 (6) to finance the reasonable costs incurred by the
18 Agency in the administration of the Fund; and
19 (7) to transfer funds to the Public Water Supply
20 Loan Program (blank).
21 (c) The Loan Support Program shall be used and
22 administered by the Agency for the following purposes:
23 (1) to accept and retain funds from grant awards
24 and appropriations;
25 (2) to finance the reasonable costs incurred by the
26 Agency in the administration of the Fund, including
27 activities under Title III of this Act, including the
28 administration of the State construction grant program;
29 (3) to transfer funds to the Water Pollution
30 Control Loan Program and the Public Water Supply Loan
31 Program;
32 (4) to accept and retain a portion of the loan
33 repayments;
34 (5) to finance the development of the low interest
-3- LRB093 02586 EFG 12634 a
1 loan program for public water supply projects;
2 (6) to finance the reasonable costs incurred by the
3 Agency to provide technical assistance for public water
4 supplies; and
5 (7) to finance the reasonable costs incurred by the
6 Agency for public water system supervision programs, to
7 administer or provide for technical assistance through
8 source water protection programs, to develop and
9 implement a capacity development strategy, to delineate
10 and assess source water protection areas, and for an
11 operator certification program in accordance with Section
12 1452 of the federal Safe Drinking Water Act.
13 (d) The Public Water Supply Loan Program shall be used
14 and administered by the Agency to provide assistance to local
15 government units and privately owned community water supplies
16 for public water supplies for the following public purposes:
17 (1) to accept and retain funds from grant awards,
18 appropriations, transfers, and payments of interest and
19 principal;
20 (2) to make direct loans at or below market
21 interest rates to any eligible local government unit or
22 to any eligible privately owned community water supply to
23 finance the construction of water supplies;
24 (3) to buy or refinance the debt obligation of a
25 local government unit for costs incurred on or after July
26 17, 1997;
27 (4) to guarantee local obligations where such
28 action would improve credit market access or reduce
29 interest rates;
30 (5) as a source of revenue or security for the
31 payment of principal and interest on revenue or general
32 obligation bonds issued by the State or any political
33 subdivision or instrumentality thereof, if the proceeds
34 of such bonds will be deposited into the Fund; and
-4- LRB093 02586 EFG 12634 a
1 (6) to transfer funds to the Water Pollution
2 Control Loan Program (blank).
3 (e) The Agency is designated as the administering agency
4 of the Fund. The Agency shall submit to the Regional
5 Administrator of the United States Environmental Protection
6 Agency an intended use plan which outlines the proposed use
7 of funds available to the State. The Agency shall take all
8 actions necessary to secure to the State the benefits of the
9 federal Water Pollution Control Act and the federal Safe
10 Drinking Water Act, as now or hereafter amended.
11 (f) The Agency shall have the power to enter into
12 intergovernmental agreements with the federal government or
13 the State, or any instrumentality thereof, for purposes of
14 capitalizing the Water Revolving Fund. Moneys on deposit in
15 the Water Revolving Fund may be used for the creation of
16 reserve funds or pledged funds that secure the obligations of
17 repayment of loans made pursuant to this Section. For the
18 purpose of obtaining capital for deposit into the Water
19 Revolving Fund, the Agency may also enter into agreements
20 with financial institutions and other persons for the purpose
21 of selling loans and developing a secondary market for such
22 loans. The Agency shall have the power to create and
23 establish such reserve funds and accounts as may be necessary
24 or desirable to accomplish its purposes under this subsection
25 and to allocate its available moneys into such funds and
26 accounts. Investment earnings on moneys held in the Water
27 Revolving Fund, including any reserve fund or pledged fund,
28 shall be deposited into the Water Revolving Fund.
29 (Source: P.A. 91-36, eff. 6-15-99; 91-52, eff. 6-30-99;
30 91-501, eff. 8-13-99; 92-16, 6-28-01.)".