Illinois · Senate Bill 2416 · 103rd General Assembly

RESILIENT ILLINOIS LOAN FUND

SB 2416 Sponsored by Michael W. Halpin Died in committee

  1. Introduced Feb 10, 2023
  2. In committee Feb 10, 2023
  3. Died  
  4. Passed the House  
  5. To the governor  
  6. Became law  

What it does

The legislature's own summary of the bill, or its official long title.

Creates the Resilient Illinois Revolving Loan Fund Act. Presents the General Assembly's findings. States the purpose of the Act. Establishes the Illinois Revolving Loan Fund as a special fund in the State treasury and makes a conforming change in the State Finance Act. Provides that moneys in the Fund (1) shall be used to provide low-interest or no-interest loans to counties and nonprofit organizations for local…

Read the full title (191 words)

Creates the Resilient Illinois Revolving Loan Fund Act. Presents the General Assembly's findings. States the purpose of the Act. Establishes the Illinois Revolving Loan Fund as a special fund in the State treasury and makes a conforming change in the State Finance Act. Provides that moneys in the Fund (1) shall be used to provide low-interest or no-interest loans to counties and nonprofit organizations for local resilience projects that address mitigation of all hazards and (2) may be used for administrative support associated with the Fund, including the hiring of necessary staff. Tasks the Director of the Illinois Emergency Management Agency with the Fund's administration. Requires the Director to apply to the Federal Emergency Management Agency when funding is available under the federal STORM Act to capitalize the Fund. Directs the Agency to prioritize providing loans to projects it determines to have the greatest impact on eliminating hazards. Provides that the Fund shall be administered, operated, and maintained to remain available in perpetuity to provide loans and other financial assistance. Requires the Agency to establish application procedures and eligibility criteria for loans from the Fund that meet specified requirements. Effective immediately.

Every action

10 steps, oldest first, as the legislature records them.

  1. SenateFiled with Secretary by Sen. Michael W. Halpin
  2. SenateFirst Reading
  3. CommitteeReferred to Assignments · Senate Assignments
  4. CommitteeAssigned to Appropriations · Senate Appropriations
  5. SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Michael W. Halpin
  6. CommitteeSenate Committee Amendment No. 1 Referred to Assignments · Senate Assignments
  7. CommitteeSenate Committee Amendment No. 1 Assignments Refers to Appropriations · Senate Appropriations
  8. CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
  9. CommitteeSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments · Senate Assignments
  10. SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it.

From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.