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| | 99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
SB1707 Introduced 2/20/2015, by Sen. Dan Kotowski SYNOPSIS AS INTRODUCED:
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| 415 ILCS 5/19.3 | from Ch. 111 1/2, par. 1019.3 |
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Amends the Environmental Protection Act. Makes a change to a purpose for which the Water Pollution Control Loan Program shall be used. Effective immediately.
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| | A BILL FOR |
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| 1 | | AN ACT concerning safety.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Environmental Protection Act is amended by |
| 5 | | changing Section 19.3 as follows:
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| 6 | | (415 ILCS 5/19.3) (from Ch. 111 1/2, par. 1019.3)
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| 7 | | Sec. 19.3. Water Revolving Fund.
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| 8 | | (a) There is hereby created within the State Treasury a |
| 9 | | Water Revolving
Fund, consisting of 3 interest-bearing special |
| 10 | | programs to be known as the
Water Pollution Control Loan |
| 11 | | Program, the Public Water Supply Loan Program, and
the Loan |
| 12 | | Support Program, which shall be used and administered by the |
| 13 | | Agency.
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| 14 | | (b) The Water Pollution Control Loan Program shall be used |
| 15 | | and administered
by the Agency to provide assistance for the |
| 16 | | following purposes:
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| 17 | | (1) to accept and retain funds from grant awards, |
| 18 | | appropriations,
transfers, and payments of interest and |
| 19 | | principal;
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| 20 | | (2) to make direct loans at or below market interest |
| 21 | | rates and to provide additional subsidization, including, |
| 22 | | but not limited to, forgiveness of principal, negative |
| 23 | | interest rates, and grants, to any
eligible local |
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| 1 | | government unit to finance the construction of
treatments |
| 2 | | works, including storm water treatment systems that are |
| 3 | | treatment works, and projects that fulfill federal State |
| 4 | | Revolving Fund grant requirements for a green project |
| 5 | | reserve;
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| 6 | | (2.5) with respect to funds provided under the American |
| 7 | | Recovery and Reinvestment Act of 2009: |
| 8 | | (A) to make direct loans at or below market |
| 9 | | interest rates to any eligible local government unit |
| 10 | | and to provide additional subsidization to any |
| 11 | | eligible local government unit, including, but not |
| 12 | | limited to, forgiveness of principal, negative |
| 13 | | interest rates, and grants; |
| 14 | | (B) to make direct loans at or below market |
| 15 | | interest rates to any eligible local government unit to |
| 16 | | buy or refinance debt obligations for treatment works |
| 17 | | incurred on or after October 1, 2008; and |
| 18 | | (C) to provide additional subsidization, |
| 19 | | including, but not limited to, forgiveness of |
| 20 | | principal, negative interest rates, and grants for |
| 21 | | treatment works incurred on or after October 1, 2008; |
| 22 | | (3) to make direct loans at or below market interest |
| 23 | | rates and to provide additional subsidization, including, |
| 24 | | but not limited to, forgiveness of principal, negative |
| 25 | | interest rates, and grants, to any
eligible local |
| 26 | | government unit to buy or refinance debt obligations for |
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| 1 | | costs
incurred after March 7, 1985, for the construction of |
| 2 | | treatment works, including storm water treatment systems |
| 3 | | that are treatment works, and projects that fulfill federal |
| 4 | | State Revolving Fund grant requirements for a green project |
| 5 | | reserve;
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| 6 | | (3.5) to make loans, including, but not limited to, |
| 7 | | loans through a linked deposit program, at or below market |
| 8 | | interest rates for the
implementation of a management |
| 9 | | program established under Section 319 of the
Federal Water |
| 10 | | Pollution Control Act, as amended;
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| 11 | | (4) to guarantee or purchase insurance for local |
| 12 | | obligations
where such action would improve credit market |
| 13 | | access or reduce interest rates;
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| 14 | | (5) as a source of revenue or security for the payment |
| 15 | | of principal and
interest on revenue or general obligation |
| 16 | | bonds issued by the State or any
political subdivision or |
| 17 | | instrumentality thereof, if the proceeds of such
bonds will |
| 18 | | be deposited in the Fund;
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| 19 | | (6) to finance the reasonable costs incurred by the |
| 20 | | Agency in the
administration of the Fund;
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| 21 | | (7) to transfer funds to the Public Water Supply Loan |
| 22 | | Program; and
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| 23 | | (8) notwithstanding any other provision of this |
| 24 | | subsection (b), to provide, in accordance with rules |
| 25 | | adopted under this Title, any other financial assistance |
| 26 | | that may be provided under Section 603 of the Federal Water |
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| 1 | | Pollution Control Act for any other projects or activities |
| 2 | | eligible for assistance under subsections (c)(1) or (c)(2) |
| 3 | | of that Section or federal rules adopted to implement that |
| 4 | | Section under those subsections. |
| 5 | | (c) The Loan Support Program shall be used and administered |
| 6 | | by the Agency
for the following purposes:
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| 7 | | (1) to accept and retain funds from grant awards and |
| 8 | | appropriations;
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| 9 | | (2) to finance the reasonable costs incurred by the |
| 10 | | Agency in the
administration of the Fund, including |
| 11 | | activities under Title III of this
Act, including the |
| 12 | | administration of the State
construction grant program;
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| 13 | | (3) to transfer funds to the Water Pollution Control |
| 14 | | Loan
Program and the Public Water Supply Loan Program;
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| 15 | | (4) to accept and retain a portion of the loan |
| 16 | | repayments;
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| 17 | | (5) to finance the development of the low interest loan
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| 18 | | programs for water pollution control and public water |
| 19 | | supply projects;
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| 20 | | (6) to finance the reasonable costs incurred by the |
| 21 | | Agency to provide
technical assistance for public water |
| 22 | | supplies; and
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| 23 | | (7) to finance the reasonable costs incurred by the |
| 24 | | Agency for
public water system supervision programs, to |
| 25 | | administer or provide for
technical assistance through |
| 26 | | source water protection programs, to develop and
implement |
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| 1 | | a capacity development strategy, to delineate and assess |
| 2 | | source water
protection areas, and for an operator |
| 3 | | certification program in accordance with
Section 1452 of |
| 4 | | the federal Safe Drinking Water Act.
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| 5 | | (d) The Public Water Supply Loan Program shall be used and |
| 6 | | administered by
the Agency to provide assistance to local |
| 7 | | government units and privately owned
community water supplies |
| 8 | | for public water
supplies for the following public purposes:
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| 9 | | (1) to accept and retain funds from grant awards, |
| 10 | | appropriations,
transfers, and payments of interest and |
| 11 | | principal;
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| 12 | | (2) to make direct loans at or below market interest |
| 13 | | rates and to provide additional subsidization, including, |
| 14 | | but not limited to, forgiveness of principal, negative |
| 15 | | interest rates, and grants, to any eligible
local |
| 16 | | government unit or to any eligible privately owned |
| 17 | | community water supply
to finance the construction of water |
| 18 | | supplies and projects that fulfill federal State Revolving |
| 19 | | Fund grant requirements for a green project reserve;
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| 20 | | (2.5) with respect to funds provided under the American |
| 21 | | Recovery and Reinvestment Act of 2009: |
| 22 | | (A) to make direct loans at or below market |
| 23 | | interest rates to any eligible local government unit or |
| 24 | | to any eligible privately owned community water |
| 25 | | supply, and to provide additional subsidization to any |
| 26 | | eligible local government unit or to any eligible |
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| 1 | | privately owned community water supply, including, but |
| 2 | | not limited to, forgiveness of principal, negative |
| 3 | | interest rates, and grants; |
| 4 | | (B) to buy or refinance the debt obligation of a |
| 5 | | local government unit for costs incurred on or after |
| 6 | | October 1, 2008; and
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| 7 | | (C) to provide additional subsidization, |
| 8 | | including, but not limited to, forgiveness of |
| 9 | | principal, negative interest rates, and grants for a |
| 10 | | local government unit for costs incurred on or after |
| 11 | | October 1, 2008; |
| 12 | | (3) to make direct loans at or below market interest |
| 13 | | rates and to provide additional subsidization, including, |
| 14 | | but not limited to, forgiveness of principal, negative |
| 15 | | interest rates, and grants, to any eligible local |
| 16 | | government unit or to any eligible privately owned |
| 17 | | community water supply to buy or refinance debt obligations |
| 18 | | for
costs incurred on or after July 17, 1997, for the |
| 19 | | construction of water supplies and projects that fulfill |
| 20 | | federal State Revolving Fund requirements for a green |
| 21 | | project reserve;
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| 22 | | (4) to guarantee local obligations where such action |
| 23 | | would improve credit
market access or reduce interest |
| 24 | | rates;
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| 25 | | (5) as a source of revenue or security for the payment |
| 26 | | of principal and
interest on revenue or general obligation |
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| 1 | | bonds issued by the State or any
political subdivision or |
| 2 | | instrumentality thereof, if the proceeds of such
bonds will |
| 3 | | be deposited into the Fund; and
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| 4 | | (6) to transfer funds to the Water Pollution Control |
| 5 | | Loan Program.
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| 6 | | (e) The Agency is designated as the administering agency of |
| 7 | | the Fund.
The Agency shall submit to the Regional Administrator |
| 8 | | of the United States
Environmental Protection Agency an |
| 9 | | intended use plan which outlines the
proposed use of funds |
| 10 | | available to the State. The Agency shall take all
actions |
| 11 | | necessary to secure to the State the benefits of the federal
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| 12 | | Water Pollution Control Act and the federal Safe Drinking Water |
| 13 | | Act, as now
or hereafter amended.
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| 14 | | (f) The Agency shall have the power to enter into |
| 15 | | intergovernmental
agreements with the federal government or |
| 16 | | the State, or any instrumentality
thereof, for purposes of |
| 17 | | capitalizing the Water Revolving Fund.
Moneys on deposit in the |
| 18 | | Water Revolving Fund may be used for the
creation of reserve |
| 19 | | funds or pledged funds that secure the obligations
of repayment |
| 20 | | of loans made pursuant to this Section. For the purpose
of |
| 21 | | obtaining capital for deposit into the Water Revolving Fund, |
| 22 | | the
Agency may also enter into agreements with financial |
| 23 | | institutions and other
persons for the purpose of selling loans |
| 24 | | and developing a secondary market
for such loans. The Agency |
| 25 | | shall have the power to create and establish such
reserve funds |
| 26 | | and accounts as may be necessary or desirable to accomplish its
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| 1 | | purposes under this subsection and to allocate its available |
| 2 | | moneys into such
funds and accounts. Investment earnings on |
| 3 | | moneys held in the Water Revolving
Fund, including any reserve |
| 4 | | fund or pledged fund, shall be deposited into the
Water |
| 5 | | Revolving Fund.
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| 6 | | (Source: P.A. 98-782, eff. 7-23-14.)
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| 7 | | Section 99. Effective date. This Act takes effect upon |
| 8 | | becoming law.
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