Illinois HB1567 establishes a squad car revolving loan program for local law enforcement agencies.
Illinois HB1567 amends the Illinois Finance Authority Act to create a squad car revolving loan program. The Illinois Finance Authority and the Illinois Law Enforcement Training and Standards Board will jointly administer the program. It provides zero-interest loans for local law enforcement agencies to purchase squad cars. The Squad Car Revolving Loan Fund, a special fund in the State Treasury, will finance these loans. Each loan cannot exceed $250,000, and agencies must repay at least 50% of previous loans before qualifying for another.
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- Core Provisions
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- Legal Framework
- Critical Issues
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