Bill Status of HB 3053   97th General Assembly


Short Description:  IFA-SCHOOL BUS REVOLVING LOAN

House Sponsors
Rep. Donald L. Moffitt

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 3501/825-87 new
30 ILCS 105/5.786 new

Synopsis As Introduced
Amends the Illinois Finance Authority Act. Creates a school bus revolving loan program. Provides for a 2% rate of interest on loans for the purchase of a school bus if the chassis and the passenger compartment are built outside of Illinois, a 1% rate of interest for a school bus if either the chassis or the passenger compartment is built in Illinois, or a 0% rate of interest for a school bus if both the chassis and the passenger compartment are built in Illinois. Creates the School Bus Revolving Loan Fund as a special fund in the State treasury. Provides that loan funds shall be paid out of the Fund, and repayments of loans shall be deposited into the Fund. Provides that a loan to a school district or unit of local government for the purchase of school buses may not exceed $100,000. Provides that the repayment period may not exceed 20 years. Effective immediately.

Actions 
DateChamber Action
  2/23/2011HouseFiled with the Clerk by Rep. Donald L. Moffitt
  2/23/2011HouseFirst Reading
  2/23/2011HouseReferred to Rules Committee
  2/28/2011HouseAssigned to Executive Committee
  3/2/2011HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Donald L. Moffitt
  3/2/2011HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/17/2011HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40
  3/17/2011HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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