HB5412

HB5412 amends the Illinois Finance Authority Act to establish loan programs for fire trucks, fire stations, and ambulances.

HB5412 amends the Illinois Finance Authority Act to establish three revolving loan programs: fire truck, fire station, and ambulance. The fire truck program allows for zero-interest loans up to $750,000 per truck, with a 2% interest rate for brush trucks if built in Illinois. The fire station program provides loans up to $2 million for construction, rehabilitation, or expansion of fire stations. The ambulance program offers loans up to $350,000 for ambulances. All programs require repayment over a specified period, with interest earnings reinvested into the respective funds.