104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB1567 Introduced , by Rep. Dave Vella SYNOPSIS AS INTRODUCED: 20 ILCS 3501/825-120 new30 ILCS 105/5.1030 new Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority and the Illinois Law Enforcement Training and Standards Board may jointly administer a squad car revolving loan program. Creates the Squad Car Revolving Loan Fund. Provides that loans under the program shall be paid out of the Squad Car Revolving Loan Fund. Amends the State Finance Act to make conforming changes. LRB104 05969 HLH 16002 b A BILL FOR 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB1567 Introduced , by Rep. Dave Vella SYNOPSIS AS INTRODUCED: 20 ILCS 3501/825-120 new30 ILCS 105/5.1030 new 20 ILCS 3501/825-120 new 30 ILCS 105/5.1030 new Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority and the Illinois Law Enforcement Training and Standards Board may jointly administer a squad car revolving loan program. Creates the Squad Car Revolving Loan Fund. Provides that loans under the program shall be paid out of the Squad Car Revolving Loan Fund. Amends the State Finance Act to make conforming changes. LRB104 05969 HLH 16002 b LRB104 05969 HLH 16002 b A BILL FOR
104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB1567 Introduced , by Rep. Dave Vella SYNOPSIS AS INTRODUCED:
20 ILCS 3501/825-120 new30 ILCS 105/5.1030 new 20 ILCS 3501/825-120 new 30 ILCS 105/5.1030 new
20 ILCS 3501/825-120 new
30 ILCS 105/5.1030 new
Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority and the Illinois Law Enforcement Training and Standards Board may jointly administer a squad car revolving loan program. Creates the Squad Car Revolving Loan Fund. Provides that loans under the program shall be paid out of the Squad Car Revolving Loan Fund. Amends the State Finance Act to make conforming changes.
LRB104 05969 HLH 16002 b LRB104 05969 HLH 16002 b
LRB104 05969 HLH 16002 b
A BILL FOR
HB1567LRB104 05969 HLH 16002 b HB1567 LRB104 05969 HLH 16002 b
HB1567 LRB104 05969 HLH 16002 b
1 AN ACT concerning finance.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Finance Authority Act is amended
5 by adding Section 825-120 as follows:
6 (20 ILCS 3501/825-120 new)
7 Sec. 825-120. Squad Car Revolving Loan Program.
8 (a) The Illinois Finance Authority and the Illinois Law
9 Enforcement Training and Standards Board may jointly
10 administer a squad car revolving loan program. The program
11 shall, in instances where sufficient loan funds exist to
12 permit applications to be accepted, provide zero-interest
13 loans for the purchase of squad cars by local Illinois law
14 enforcement agencies. The Authority shall make loans based on
15 need, as determined by the Illinois Law Enforcement Training
16 and Standards Board.
17 (b) The loan funds shall be paid, subject to
18 appropriation, out of the Squad Car Revolving Loan Fund, a
19 special fund in the State Treasury. The Squad Car Revolving
20 Loan Fund shall consist of any moneys transferred or
21 appropriated into the Squad Car Revolving Loan Fund and all
22 repayments of loans made under the squad car revolving loan
23 program. The Squad Car Revolving Loan Fund shall be used for
104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB1567 Introduced , by Rep. Dave Vella SYNOPSIS AS INTRODUCED:
20 ILCS 3501/825-120 new30 ILCS 105/5.1030 new 20 ILCS 3501/825-120 new 30 ILCS 105/5.1030 new
20 ILCS 3501/825-120 new
30 ILCS 105/5.1030 new
Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority and the Illinois Law Enforcement Training and Standards Board may jointly administer a squad car revolving loan program. Creates the Squad Car Revolving Loan Fund. Provides that loans under the program shall be paid out of the Squad Car Revolving Loan Fund. Amends the State Finance Act to make conforming changes.
LRB104 05969 HLH 16002 b LRB104 05969 HLH 16002 b
LRB104 05969 HLH 16002 b
A BILL FOR
20 ILCS 3501/825-120 new
30 ILCS 105/5.1030 new
LRB104 05969 HLH 16002 b
HB1567 LRB104 05969 HLH 16002 b
HB1567- 2 -LRB104 05969 HLH 16002 b HB1567 - 2 - LRB104 05969 HLH 16002 b
HB1567 - 2 - LRB104 05969 HLH 16002 b
1 loans to local Illinois law enforcement agencies to purchase
2 squad cars and for no other purpose. All interest earned on
3 moneys in the Fund shall be deposited into the Fund.
4 (c) No local Illinois law enforcement agency may receive a
5 loan under this Section that exceeds $250,000. No local
6 Illinois law enforcement agency is eligible for a second or
7 subsequent loan under this Section until that local Illinois
8 law enforcement agency has repaid at least 50% of the amount
9 borrowed under the terms of each of the previous loans awarded
10 to the local Illinois law enforcement agency under this
11 Section. The repayment period for the loan may not exceed 5
12 years. The local Illinois law enforcement agency shall repay
13 each year at least 20% of the principal amount borrowed or the
14 remaining balance of the loan, whichever is less. All
15 repayments of loans under this Section shall be deposited into
16 the Squad Car Revolving Loan Fund.
17 (d) The Authority, in consultation with the Illinois Law
18 Enforcement Training and Standards Board, may adopt rules to
19 administer this Section.
20 (e) As used in this Section:
21 "Local Illinois law enforcement agency" means an agency of
22 any municipality or county that is vested by law or ordinance
23 with the duty to maintain public order and to enforce criminal
24 laws or ordinances.
25 Section 10. The State Finance Act is amended by adding
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HB1567 - 3 - LRB104 05969 HLH 16002 b
1 Section 5.1030 as follows:
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