SB86 amends the Delaware Volunteer Fire Service Revolving Loan Fund to allow for loan repayments and interest earnings.
SB86 amends Title 29 of the Delaware Code to enhance the Delaware Volunteer Fire Service Revolving Loan Fund. The bill allows the fund to accept loan repayments and earn interest on deposited amounts. It also establishes interest-bearing accounts for loan repayments and authorizes the fund to finance administrative costs. The fund can be used to upgrade equipment and improve facilities for volunteer fire, rescue, and emergency medical service companies. Loan funds must be used within the county where they are received, except for certain expansions already in progress.
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