Executive Committee
Adopted in House Comm. on Mar 04, 2004
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1 | AMENDMENT TO HOUSE BILL 4361
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2 | AMENDMENT NO. ______. Amend House Bill 4361 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 1. Short title. This Act may be cited as the Fire | ||||||
5 | Sprinkler Dormitory Act. | ||||||
6 | Section 5. Definition. "Post-secondary educational | ||||||
7 | institution" means an Illinois public or private college or | ||||||
8 | university offering degrees and instruction above the high | ||||||
9 | school level. This term does not include any public or private | ||||||
10 | college or university that does not provide on-campus housing | ||||||
11 | for its students in dormitories or equivalent facilities that | ||||||
12 | are owned, operated, or maintained by the pubic or private | ||||||
13 | college or university. This term does not include (i) any | ||||||
14 | public or private junior or community college or (ii) any | ||||||
15 | institution offering degrees and instruction that uses | ||||||
16 | correspondence as its primary mode of student instruction. | ||||||
17 | Section 10. Fire sprinkler systems required. Subject to the | ||||||
18 | establishment of a fire sprinkler dormitory revolving loan | ||||||
19 | program under Section 15 of this Act, fire sprinkler systems | ||||||
20 | are required in the dormitories of all post-secondary | ||||||
21 | educational institutions by 2013. This includes current | ||||||
22 | structures as well as newly constructed dormitories. |
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1 | Section 15. Fire Sprinkler Dormitory Revolving Loan | ||||||
2 | Program. The Illinois Finance Authority and the Office of the | ||||||
3 | State Fire Marshal shall jointly administer a fire sprinkler | ||||||
4 | dormitory revolving loan program. The program shall provide | ||||||
5 | low-interest loans for the installation of fire sprinkler | ||||||
6 | systems in college dormitories by post-secondary educational | ||||||
7 | institutions. The loan funds, subject to appropriation, shall | ||||||
8 | be paid out of the Fire Sprinkler Dormitory Revolving Loan | ||||||
9 | Fund, a special fund in the State treasury. The Fund shall | ||||||
10 | consist of any moneys transferred into or appropriated to the | ||||||
11 | Fund as well as all repayments of loans made under this | ||||||
12 | Section. The Fund shall be used for loans to post-secondary | ||||||
13 | educational institutions for the installation of fire | ||||||
14 | sprinkler systems in dormitories and for no other purpose. All | ||||||
15 | interest earned on moneys in the Fund shall be deposited into | ||||||
16 | the Fund.
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17 | Section 20. Student fee surcharge. Post-secondary | ||||||
18 | educational institutions may levy a surcharge on their student | ||||||
19 | fees in order to repay the loan. The post-secondary educational | ||||||
20 | institution shall repay each year at least 5% of the principal | ||||||
21 | amount borrowed or the remaining balance of the loan, whichever | ||||||
22 | is less. All repayments of loans shall be deposited into the | ||||||
23 | Fire Sprinkler Dormitory Revolving Loan Fund. | ||||||
24 | Section 25. Rules. The Illinois Finance Authority and the | ||||||
25 | Office of the State Fire Marshal shall each adopt rules to | ||||||
26 | administer the revolving loan program.
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28 | Section 30. The State Finance Act is amended by adding | ||||||
29 | Section
5.625 as follows:
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30 | (30 ILCS 105/5.625 new)
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1 | Sec. 5.625. The Fire Sprinkler Dormitory Revolving Loan | ||||||
2 | Fund.
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3 | Section 99. Effective date. This Act takes effect January | ||||||
4 | 1, 2005.".
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