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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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