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90_HB2038
Amends the Civil Administrative Code of Illinois in the
Section concerning DCCA's safety loan program. Provides that
DCCA may provide loans or loan guarantees (now loans) under
the program.
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1 AN ACT to amend the Civil Administrative Code of Illinois
2 by changing Section 46.68.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Civil Administrative Code of Illinois is
6 amended by changing Section 46.68 as follows:
7 (20 ILCS 605/46.68)
8 Sec. 46.68. Safety loan program.
9 (a) The Department of Commerce and Community Affairs may
10 develop and implement a small business safety loan and loan
11 guarantee program to allow employers the opportunity to
12 improve workplace safety. The loans or loan guarantee
13 payments shall be made from appropriations for that purpose.
14 The loans or loan guarantees shall be secured by adequate
15 collateral and, may be for a term of no more than 5 years.
16 Loans, and may bear interest at a discounted rate. The
17 Department shall promulgate all necessary rules to implement
18 the program.
19 (b) Any loan or loan guarantee made under this Section
20 shall: (1) be made only if an on-site safety and health
21 consultation and recommendations for correction have been
22 completed by the Department's Industrial Service Division;
23 and (2) finance or guarantee no more than $50,000 or 80% of
24 the total project and no less than $10,000.
25 (c) The Illinois Safety Revolving Loan Fund is created
26 as a separate fund within the State Treasury.
27 The purpose of the Fund is to provide loans or loan
28 guarantees to and finance administration of loans or loan
29 guarantees to small businesses in Illinois.
30 There shall be deposited into the Fund amounts including,
31 but not limited to, the following:
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1 (1) all receipts, including dividends, principal,
2 and interest payments from any applicable loan or loan
3 guarantee agreement made from the Fund or from direct
4 appropriations;
5 (2) all proceeds of assets of whatever nature
6 received by the Department as a result of default or
7 delinquency with respect to loan or loan guarantee
8 agreements made from the Fund or from direct
9 appropriations by the General Assembly, including
10 proceeds from the sale, disposal, lease, or rental of
11 real or personal property that the Department may have
12 received as a result of the default or delinquency;
13 (3) any appropriations, grants, or gifts made to
14 the Fund; and
15 (4) any income received from interest on
16 investments of moneys in the Fund.
17 (d) The implementation of or continuation of this
18 program during any fiscal year is dependent upon federal
19 funding, through the Department of Labor, committed to the
20 Onsite Safety and Health Consultation Program prior to the
21 beginning of that fiscal year.
22 (Source: P.A. 89-423, eff. 6-1-96.)