SPRINGFIELD, IL –Legislation sponsored by State Senator Terry Link (D-Waukegan) will allow the State Treasurer’s Office to combine a number of loan programs for fire departments.  This will help in cutting down the administrative costs associated with running the programs.

“By consolidating these programs we are going to help save the state dollars while ensuring the integrity of the existing programs,” said Senator Terry Link.  “It is important that the state continue to help local fire departments with low/no interest loans to guarantee they have the necessary tools to keep our communities safe.”

Senate Bill 3373 creates the Fire and Ambulance Services Revolving Loan Fund as a special fund in the State treasury. The Fund provides low interest and interest free loans to local communities in need of new equipment for their fire departments and emergency services.   This one program will replace the three currently in operation which are the Fire Truck Revolving Loan Fund, the Fire Station Revolving Loan Fund and the Ambulance Revolving Loan Fund.

The Fund will be used for loans to fire departments and fire protection districts to purchase fire trucks; to build, remodel or expand fire stations; and allow fire departments, fire protection districts, and non-profit ambulance services to purchase ambulances.

Senate Snapshot:
What: SB 3373 passed the Senate
The Vote: 55-0-0
Lead Senate Sponsor: Senator Terry Link (D-Waukegan)
Next: Goes to the House of Representatives

Category: Releases


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