SB3018 amends the Illinois Finance Authority Act to revise loan programs for fire trucks, fire stations, and ambulances.

SB3018 amends the Illinois Finance Authority Act to revise loan programs for fire trucks, fire stations, and ambulances. The bill sets a maximum loan amount of $750,000 per fire truck and $350,000 per ambulance. It also establishes a 2% interest rate for brush trucks if both the chassis and apparatus are built outside Illinois, a 1% rate if either is built in Illinois, and a 0% rate if both are built in Illinois. The repayment period for fire truck loans is capped at 10 years, while fire station and ambulance loans have a maximum repayment period of 25 years.

SB3018 amends the Illinois Finance Authority Act to revise loan programs for fire trucks, fire stations, and ambulances.

SB3018 amends the Illinois Finance Authority Act to revise loan programs for fire trucks, fire stations, and ambulances. The bill sets a maximum loan amount of $750,000 per fire truck and $350,000 per ambulance. It also establishes a 2% interest rate for brush trucks if both the chassis and apparatus are built outside Illinois, a 1% rate if either is built in Illinois, and a 0% rate if both are built in Illinois. The repayment period for fire truck loans is capped at 10 years, while fire station and ambulance loans have a maximum repayment period of 25 years.