reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart I - AMBULANCE REVOLVING LOAN PROGRAM › Section 1100.917 - Funding Criteria and Credit Review Process

Current through Register Vol. 48, No. 28, July 12, 2024
In addition to the Criteria for Review of Loan Applications
				  developed by OSFM (see 41 Ill. Adm. Code
				  292.60
				  ), the credit review process and funding criteria approved by the Authority for
				  this Program are as follows:
a) The
				Authority's Chief Financial Officer, or his or her designee, will serve as an
				ex officio, non-voting member of OSFM's Loan Application Review Committee for
				the purpose of reviewing submitted loan documentation to ensure that all
				documents necessary for the Authority to initiate its credit and due diligence
				review are present (see 41 Ill. Adm. Code
				292.40
				).
b) If an applicant is delinquent
				on a previous loan funded by the Authority, the applicant shall be
				automatically disqualified from funding under this Program until any loan
				repayment delinquency has been cured.
c) The applicant must demonstrate its ability
				to meet at least one of the following minimum debt service coverage
				requirements:
1) General fund revenues or
				specified revenue stream:
				1.25 x;
				or
2) State intercept revenues:
				1.25x; or
3) Direct property levy
				for the loan: 1.00 x.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart I - AMBULANCE REVOLVING LOAN PROGRAM › Section 1100.920 - Loan Documents and Servicing

Current through Register Vol. 48, No. 28, July 12, 2024
a) Loan applications approved by OSFM and the
				Authority will be submitted to the Authority to prepare loan documentation and
				funding. Subject to the availability of funds, the Authority will prepare the
				loan documentation, including, without limitation, the Loan Agreement to
				evidence the loan.
b) The loan
				documentation will be provided to the applicant for execution. Upon execution
				of the loan documentation, subject to the availability of funds, the Authority
				will execute the loan documentation and cause the loan to be funded.
c) The Authority will retain the executed
				loan documents and will service funded loans.
d) The Authority reserves the right to charge
				an origination/processing fee of up to $500 per applicant that receives an
				approved loan. The amounts attributable to this origination/processing fee
				shall be deducted from the loan proceeds released upon closing and funding of
				the loan.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart I - AMBULANCE REVOLVING LOAN PROGRAM › Section 1100.925 - Repayment Procedures

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Loans shall be repaid within 10 years.
b) The rate of interest on loans under the
				Program will be a 0% fixed interest rate (and remain in effect for the duration
				of the loan) unless the applicant has one or more investment grade credit
				ratings (i.e., at or above "Baa3" or "BBB-" or the equivalent) from any
				nationally recognized municipal credit rating agency.
c) For applicants that do not qualify for
				zero-percent loans pursuant to subsection (b), the interest rate shall be
				determined as follows:
1) The interest rate
				will be set each January 1 for loans that are documented and funded during that
				calendar year;
2) The interest rate
				rate will be equivalent to 50% of the mean of the Bond Buyer's 20-Bond General
				Obligation Index for the 12 month period that ended September 30 of the prior
				calendar year (and will represent the interest rates in effect as of October 1
				of each year under the Illinois Environmental Protection Agency's State
				Revolving Fund/Clean Water Initiative Program);
3) The loans will bear a fixed interest rate
				on a simple interest basis. The applicable interest rate shall be in effect for
				the duration of the loan.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart I - AMBULANCE REVOLVING LOAN PROGRAM › Section 1100.930 - Terms and Conditions of Loan Agreement

Current through Register Vol. 48, No. 28, July 12, 2024
A loan application approved by OSFM and the Authority is
				  subject to the following terms:
a)
				Loan proceeds under this Program shall be used exclusively for the purposes
				listed in Section
				1100.910
				and shall be expended in accordance with the approved application and the
				recipient's policies and procedures related to those expenditures. In the event
				that the loan proceeds are not expended in the manner approved, the recipient,
				upon written notification from the Authority, shall be required to submit, by
				the next payment due date, payment of the outstanding principal and accrued
				interest, if any, of the loan.
b)
				Loan proceeds shall be obligated no later than six months following the loan
				funding date.
c) Proof of use of
				loan proceeds for the funded zero-interest or low-interest loan shall be
				provided to the Authority and OSFM in writing pursuant to terms specified in
				the Loan Agreement.
d) Loan
				proceeds shall be included in the recipient's budget.
e) If a payment delinquency or default is not
				cured within 90 calendar days by payment of the amount owed to the Authority,
				the Authority shall notify the Office of the Comptroller to deduct the amount
				owed from any payments by the State to the recipient. OSFM and/or the Authority
				may avail themselves of all remedies, rights and provisions of law applicable
				in these circumstances. Failure to exercise any rights or remedies provided by
				law may not be used as a defense by the recipient in any proceeding brought
				against it by OSFM or the Authority.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart J - FIRE SPRINKLER DORMITORY REVOLVING LOAN PROGRAM › Section 1100.1000 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
The following definitions apply in this Subpart:
"Act" means the Fire Sprinkler Dormitory Act [110 ILCS 47
				  ].
"Applicant" means a post-secondary educational institution
				  applying to OSFM and the Authority for a low interest loan under the
				  Program.
"Authority" means the Illinois Finance Authority created by
				  the Illinois Finance Authority Act [20 ILCS 3501 ] or its successor
				  agency.
"Fire Sprinkler System" means a fire sprinkler system located
				  in an existing or newly constructed dormitory or residence hall of a
				  post-secondary educational institution that has received the permits,
				  certifications and inspections required by federal, State and local law, rule,
				  guideline or ordinance.
"Fund" means the Fire Sprinkler Dormitory Revolving Loan
				  Fund.
"Low Interest Loan" means a loan with a rate of interest to
				  be charged under the Program as determined by the Board of the Authority at the
				  time of the loan approval, at a rate lower than current market rates.
"OSFM" means the Office of the State Fire Marshal.
"Post-Secondary Educational Institution" means an Illinois
				  public or private college or university offering degrees and instruction above
				  the high school level. This term does not include:
any public or private college or university that does not
				  provide on-campus housing for its students in dormitories or equivalent
				  facilities that are owned, operated or maintained by the public or private
				  college or university;
any public or private junior college or community college;
				  or
any institution offering degrees and instruction that uses
				  correspondence as its primary mode of student instruction.
"Program" means the Illinois Fire Sprinkler Dormitory
				  Revolving Loan Program authorized by the Act and outlined in this
				  Subpart.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart J - FIRE SPRINKLER DORMITORY REVOLVING LOAN PROGRAM › Section 1100.1005 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
OSFM and the Authority will jointly administer a Program to
				  provide low interest loans to post-secondary educational institutions, the
				  proceeds of which shall be used to pay all or any portion of the costs
				  associated with planning, purchasing, installing, upgrading, altering,
				  modifying, fixing or repairing a fire sprinkler system. OSFM will determine
				  loan awards based on system needs, financial need and how recently the
				  applicant has received a previous loan under this Program, supplemented by
				  recommendations from the Authority based on creditworthiness. Low interest
				  loans for the purchase of fire sprinkler systems shall not exceed $1,000,000 in
				  any single fiscal year to any post-secondary educational
				  institution.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart J - FIRE SPRINKLER DORMITORY REVOLVING LOAN PROGRAM › Section 1100.1010 - Eligible Expenditures

Current through Register Vol. 48, No. 28, July 12, 2024
Subject to the availability of monies in the Fund, low
				  interest loans to post-secondary educational institutions will be available for
				  the purpose of paying all or a portion of the costs associated with planning,
				  purchasing, installing, upgrading, altering, modifying, fixing or repairing a
				  fire sprinkler system.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart J - FIRE SPRINKLER DORMITORY REVOLVING LOAN PROGRAM › Section 1100.1015 - Loan Application Review

Current through Register Vol. 48, No. 28, July 12, 2024
a) Applications by post-secondary educational
				institutions for low interest loans to be made pursuant to the Program shall be
				submitted to OSFM on forms provided by, and following the procedures
				established by, OSFM. Each application shall be reviewed by OSFM. OSFM will
				determine, based on system needs, financial need and how recently the applicant
				has received a previous loan under this Program, which eligible post-secondary
				educational institution will be recommended to the Authority to receive a low
				interest loan under this Program.
b) Applications approved by OSFM will be
				forwarded to the Authority. The Authority will review the low interest loan
				application and any information provided in connection with the application,
				including, without limitation, financial statements, certifications and
				assurances provided by officers of the post-secondary educational institution
				to determine the creditworthiness of the institution.
c) The Authority, after completion of its
				review of the applicant's creditworthiness, will notify OSFM of which loan
				applications have been approved. OSFM will notify each applicant of the
				approval or disapproval of its application. Applicants who are not approved may
				appeal the determination of OSFM by following the appeal process established by
				OSFM.
d) In the event that
				applications for low interest loans exceed available funds, OSFM and the
				Authority will jointly determine criteria for the award based on the financial
				need of the applicant and other criteria that may be deemed appropriate by OSFM
				and the Authority.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart J - FIRE SPRINKLER DORMITORY REVOLVING LOAN PROGRAM › Section 1100.1017 - Funding Criteria and Credit Review Process

Current through Register Vol. 48, No. 28, July 12, 2024
In addition to the criteria developed by OSFM, the credit
				  review process and funding criteria approved by the Authority for this Program
				  are as follows:
a) If an applicant is
				delinquent on a previous loan under the Program, the applicant is automatically
				disqualified for an additional low interest loan from the Program until it is
				current on its loan repayment.
b)
				Applicants are eligible for only one loan under the Program within any fiscal
				year.
c) The applicant must
				demonstrate its ability to meet at least one of the following minimum debt
				service coverage requirements:
1) General fund
				revenues or specified revenue stream:
				1.25 x;
				or
2) State intercept revenues:
				1.25x.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart J - FIRE SPRINKLER DORMITORY REVOLVING LOAN PROGRAM › Section 1100.1020 - Loan Documents and Servicing

Current through Register Vol. 48, No. 28, July 12, 2024
a) Approved loan applications will be
				submitted to the Authority for documentation and funding. Subject to the
				availability of monies in the Fund, the Authority will prepare a loan
				agreement, evidencing the loan to the post-secondary educational
				institution.
b) The loan documents
				will be provided to the post-secondary educational institution for execution.
				Upon execution of the loan documents, subject to the availability of monies in
				the Fund, the Authority will execute the loan documents and cause the loan to
				be funded.
c) The Authority will
				retain the executed loan documents, as well as evidence of security supporting
				the loan, and will service funded loans under the Program.
d) The Authority reserves the right to charge
				an origination/processing fee of up to $5,000 per applicant that receives an
				approved loan.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart J - FIRE SPRINKLER DORMITORY REVOLVING LOAN PROGRAM › Section 1100.1025 - Repayment Procedures

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				The maturity date of the loans shall be determined by OSFM and the Authority,
				but shall not exceed 20 years.
b)
				Payments of principal and interest on the loan shall be made according to the
				schedule determined by OSFM and the Authority. The Authority will provide
				invoices to loan recipients for those payments. Payments shall be made to the
				Illinois Finance Authority. Payments not received within 15 calendar days after
				the due date shall be assessed a penalty of 5 percent of the payment due;
				however, the late payment penalty will be waived when the postmark date on the
				envelope used to submit the payment is five days or more before the end of the
				15-day grace period.
c) A
				post-secondary educational institution may prepay the balance due on the loan
				in its entirety, or a portion of the balance, on any scheduled payment date,
				provided that the post-secondary educational institution first contacts the
				Authority to obtain the total amount of the principal due at that
				time.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart J - FIRE SPRINKLER DORMITORY REVOLVING LOAN PROGRAM › Section 1100.1030 - Terms and Conditions of Loan Agreement

Current through Register Vol. 48, No. 28, July 12, 2024
An approved loan is subject to the following terms:
a) Loan proceeds under this Program shall be
				used exclusively for the purposes listed in Section
				1100.1005 and shall be
				expended in accordance with the approved application and the applicant's
				policies and procedures related to the expenditures. In the event the loan
				proceeds are not expended in the manner approved, then the post-secondary
				educational institution, upon written notification from OSFM, shall, within 90
				calendar days after the date of the notification, submit payment of the
				outstanding principal of the loan.
b) Loan proceeds shall be spent no later than
				six months following the receipt of the loan.
c) Use of loan proceeds shall be accounted
				for in accordance with standard accounting practices. Loan recipients shall
				submit to OSFM a report detailing how the loan proceeds were used. This
				expenditure report, to be submitted on a form supplied by OSFM, shall be due
				not later than nine months following receipt of the loan.
d) In the event of default that is not cured
				within 90 calendar days, OSFM shall notify the Office of the Comptroller to
				deduct the amount owed from any payments from other State agencies, if any, and
				the post-secondary educational institution shall be ineligible for additional
				loans until good standing has been restored. In addition, OSFM and/or the
				Authority may avail itself of all remedies, rights and provisions of law
				applicable in the circumstances, and the failure to exercise or exert any
				rights or remedies provided by law may not be raised as defense by the
				post-secondary educational institution in default.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart K - FIRE STATION REVOLVING LOAN PROGRAM › Section 1100.1100 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
The following definitions apply in this Subpart:
"Applicant" means a unit of local government, including any
				  municipality, township, township fire department, or special district such as a
				  fire protection district that operates a fire department or provides fire
				  suppression services itself without contracting those services from another
				  entity.
"Authority" means the Illinois Finance Authority created by
				  the Illinois Finance Authority Act [20 ILCS 3501 ] or its successor
				  agency.
"Board" means the governing body of the entity receiving the
				  loan.
"Fire Department" means a fire department, fire protection
				  district, or township fire department that is a unit of local government (as
				  defined in Article VII, Section 1 of the Illinois Constitution of 1970 and in
				  Section 1.28 of the Statute on Statutes [5 ILCS
				  70/1.28 ] in Illinois that provides fire suppression
				  within a geographical area. For purposes of this Part, "Fire Department" is
				  defined to include volunteer fire departments and volunteer fire protection
				  districts (that are units of local government.
"Fire Station" means a building or structure set aside for
				  storage of firefighting apparatus, personal protective equipment, fire hose,
				  and other fire extinguishing equipment. It may also include dormitory living
				  facilities and work areas such as offices, meeting rooms, workshops, kitchens
				  or laundry facilities. The term includes additions to existing buildings as
				  well as new construction.
"Fund" means the Fire Station Revolving Loan Fund.
"Funding Date" means the date on which a zero-interest or
				  low-interest loan is closed and funded.
"Low Interest Loan" means a loan with a fixed rate of
				  interest lower than commercially available.
"OSFM" means the Office of the State Fire Marshal.
"Program" means the Illinois Fire Station Revolving Loan
				  Program.
"Recipient" means an applicant that has successfully applied
				  for and received all required approvals from OSFM and the Authority, agreed to
				  and executed loan documentation prepared by the Authority, and closed and
				  funded its fire station loan.
"Zero-Interest Loan" means a loan bearing a zero percent rate
				  of interest for the duration of the loan.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart K - FIRE STATION REVOLVING LOAN PROGRAM › Section 1100.1103 - Severability

Current through Register Vol. 48, No. 28, July 12, 2024
If any Section, subsection, sentence or clause this Subpart
				  shall be held by a court of competent jurisdiction to be invalid, that holding
				  shall not affect the remaining portions of this Subpart.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart K - FIRE STATION REVOLVING LOAN PROGRAM › Section 1100.1105 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
a) OSFM and the
				Authority may jointly administer a program to provide zero-interest or
				low-interest loans to eligible applicants to finance or reimburse all or a
				portion of the costs associated with the construction, rehabilitation,
				remodeling or expansion of a fire station or acquisition of land for the
				construction or expansion of a fire station, subject to the availability of
				funds. Loans for the purpose of a fire station shall not exceed $2,000,000 per
				fire department.
b) For-profit
				entities, nonprofit entities, associations and/or not-for-profit corporations
				are not eligible to apply for a loan under this Program. Units of local
				government that do not operate fire departments are similarly not eligible
				(e.g., a municipality that contracts for fire suppression from another
				municipality or fire protection district).
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart K - FIRE STATION REVOLVING LOAN PROGRAM › Section 1100.1110 - Eligible Expenditures

Current through Register Vol. 48, No. 28, July 12, 2024
Subject to availability of funds, loans are available to be
				  made under the Program for zero-interest or low-interest loans to applicants
				  for the construction, rehabilitation, remodeling or expansion of a fire station
				  or acquisition of land for the construction or expansion of a fire
				  station.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart K - FIRE STATION REVOLVING LOAN PROGRAM › Section 1100.1115 - Loan Application Review

Current through Register Vol. 48, No. 28, July 12, 2024
a) Applications for loans to be made pursuant
				to the Program shall be submitted to OSFM on forms provided by, and following
				the procedures established by, OSFM and the Authority. Each application shall
				be reviewed by OSFM. OSFM will determine, based on equipment needs, financial
				need, and how recently the applicant has received a previous loan under this
				Program, which eligible applicant or applicants shall be recommended to the
				Authority for further consideration to receive a loan under this Program to
				finance the construction, rehabilitation, remodeling or expansion of a fire
				station or acquisition of land for the construction or expansion of a fire
				station.
b) Applications approved
				by OSFM will be forwarded to the Authority. The Authority will review the loan
				application and any supplemental information provided in connection with the
				loan application, including, without limitation, financial statements and
				certifications and assurances provided by officers of the applicant, and any
				related Board-approved ordinances, resolutions, tax levies, budgets, or other
				pertinent documents to evaluate legal authorization and creditworthiness of the
				applicant.
c) The Authority, after
				completion of its review, will notify OSFM of which loan applications have been
				approved. OSFM will notify each applicant of the approval or disapproval of its
				application. Applicants who are not approved may request reconsideration of the
				determination of OSFM or the Authority by following the request for
				reconsideration process established by OSFM (see 41 Ill. Adm. Code
				294.170
				).
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart K - FIRE STATION REVOLVING LOAN PROGRAM › Section 1100.1117 - Funding Criteria and Credit Review Process

Current through Register Vol. 48, No. 28, July 12, 2024
In addition to the loan application review criteria developed
				  by OSFM (see 41 Ill. Adm. Code
				  294.160
				  ), the credit review process and funding criteria approved by the Authority for
				  this Program are as follows:
a) The
				Authority's Chief Financial Officer, or his or her designee, will serve as an
				ex officio, non-voting member of the OSFM's Loan Application Review Committee
				for the purpose of reviewing submitted loan documentation to ensure that all
				documents necessary for the Authority to initiate its credit and due diligence
				review are present (see 41 Ill. Adm. Code
				294.140
				).
b) If an applicant is delinquent
				on a previous loan funded by the Authority, the applicant shall be
				automatically disqualified from funding under this Program until any loan
				repayment delinquency has been cured.
c) The applicant must demonstrate its ability
				to meet at least one of the following minimum debt service coverage
				requirements:
1) General fund revenues or
				specified revenue stream:
				1.25 x;
				or
2) State tax intercept revenues:
				1.25x; or
3) Direct property levy
				for the loan: 1.00 x.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart K - FIRE STATION REVOLVING LOAN PROGRAM › Section 1100.1120 - Loan Documents and Servicing

Current through Register Vol. 48, No. 28, July 12, 2024
a) Loan applications approved by OSFM and the
				Authority will be submitted to the Authority to prepare loan documentation and
				funding. Subject to the availability of funds, the Authority will prepare the
				loan documentation, including, without limitation, a Loan Agreement to evidence
				the loan.
b) The loan documentation
				will be provided to the applicant for execution. Upon execution of the loan
				documentation, subject to the availability of funds, the Authority will execute
				the loan documentation and cause the loan to be funded.
c) The Authority will retain the executed
				loan documents and will service funded loans.
d) The Authority reserves the right to charge
				an origination/processing fee of up to $500 per applicant that receives an
				approved loan. The amounts shall be deducted from the loan proceeds released
				upon closing and funding of the loan.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart K - FIRE STATION REVOLVING LOAN PROGRAM › Section 1100.1125 - Repayment Procedures

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Loans shall be repaid within 25 years.
b) The rate of interest on loans under the
				Program will be 0% unless the applicant has one or more investment grade credit
				ratings (i.e., at or above "Baa3" or "BBB-" or the equivalent) from any
				nationally recognized municipal credit rating agency.
c) For applicants that do not qualify for a
				0% fixed interest rate loan pursuant to subsection (b), the interest rate shall
				be determined as follows:
1) The interest
				rate will be set each January 1 for loans that are documented and funded during
				that calendar year;
2) The interest
				rate will be equivalent to 50% of the mean of the Bond Buyer's 20-Bond General
				Obligation Index for the 12 month period that ended September 30 of the prior
				calendar year (and will represent the interest rates in effect as of October 1
				of each year under the Illinois Environmental Protection Agency's State
				Revolving Fund/Clean Water Initiative Programs);
3) The loans will bear interest on a simple
				interest basis. The applicable interest rate shall be fixed and remain in
				effect for the duration of the loan.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart K - FIRE STATION REVOLVING LOAN PROGRAM › Section 1100.1130 - Terms and Conditions of Loan Agreement

Current through Register Vol. 48, No. 28, July 12, 2024
A loan application approved by OSFM and the Authority is
				  subject to the following terms:
a)
				Loan proceeds under this Program shall be used exclusively for the purposes
				listed in Section
				1100.1110
				and shall be expended in accordance with the approved application and the
				recipient's policies and procedures related to those expenditures. In the event
				that the loan proceeds are not expended in the manner approved, the recipient,
				upon written notification from the Authority, shall be required to submit, by
				the next payment due date, payment of the outstanding principal and accrued
				interest, if any, of the loan.
b)
				Loan proceeds shall be obligated no later than 12 months following the loan
				funding date.
c) Proof of use of
				loan proceeds for the funded zero-interest or low-interest loan shall be
				provided to the Authority and OSFM in writing pursuant to terms specified in
				the Loan Agreement.
d) Loan
				proceeds shall be reflected in the recipient's budget.
e) If a loan payment delinquency or default
				is not cured within 90 calendar days by payment of the amount owed to the
				Authority, the Authority shall notify the Office of the Comptroller to deduct
				the amount owed from any payments by the State to the recipient. OSFM and/or
				the Authority may avail themselves of all remedies, rights and provisions of
				law applicable in these circumstances. Failure to exercise any rights or
				remedies provided by law may not be used as a defense by the recipient in any
				proceeding brought against it by OSFM or the Authority.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart K - FIRE STATION REVOLVING LOAN PROGRAM › Table A - Income Limits

Current through Register Vol. 48, No. 28, July 12, 2024
Table of low and moderate income with adjustments for larger
				  and smaller families.
Income Limits Per Family Size
-------------------------------------
INCOME LIMITS
-------------------------------------
1 PERSON
2 PERSON
3 PERSON
4
PERSON
5 PERSON
6 PERSON
7 PERSON
8 PERSON
MODERATE
19250
22000
24750
27500
29200
30950
32650
34400
LOW
12100
13850
15550
17300
18700
20050
21450
22850
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.20 - Policy

Current through Register Vol. 48, No. 28, July 12, 2024
It is the public policy of this State to aggressively pursue
				the collection of accounts or claims due and payable to the State of Illinois
				through all reasonable means. [30 ILCS 210/3
				]
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.30 - Purpose and Implementation

Current through Register Vol. 48, No. 28, July 12, 2024
a) Pursuant to Public Act 93-0570, the
			 Department of Revenue's Debt Collection Bureau shall serve as the primary debt
			 collecting entity for the State and in that role shall collect debts on behalf
			 of agencies of the State. All debts owed the State of Illinois shall be
			 referred to the Bureau, subject to such limitations established in this Part or
			 otherwise imposed by law. [30
			 ILCS 210/2 ]
b) This Part establishes rules necessary and
			 appropriate to implement Public Act 93-0570 and sets forth when and how the
			 Bureau assumes responsibility under the Illinois State Collection Act of 1986
			 [30 ILCS 210 ] for the collection of the delinquent debt of State
			 agencies.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.40 - Application

Current through Register Vol. 48, No. 28, July 12, 2024
a) This Part
			 applies to all debt collection by the Bureau pursuant to the authority granted
			 it under the Act.
b) To the extent
			 that some other statute prescribes procedures for collection of particular
			 types of accounts or claims owed to State agencies in conflict with the
			 provisions of the Act, such other statute shall continue in full force and
			 effect, and the debt collection provisions of the Act and this Part shall not
			 apply. [30 ILCS
			 210/2 ]
c)
			 This Part does not apply to the Illinois Student Assistance Commission in the
			 administration of its student loan programs. [30 ILCS 210/2]
d) This Part does not apply to the Department
			 of Public Aid with regard to child support debts, the collection of which is
			 governed by the requirements of Title IV, Part D of the federal Social Security
			 Act, except as provided in Section
			 1200.60(c).
			 [30 ILCS
			 210/5(h) ]
e) This Part does not apply to the Department
			 of Employment Security with regard to debts to any federal account, including
			 but not limited to the Unemployment Trust Fund, and penalties and interest
			 assessed under the Unemployment Insurance Act, except as provided in Section
			 1200.60(d).
			 [30 ILCS
			 210/5 (h-1)]
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.50 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
As used throughout this Part, each term defined in this Section
				shall have the meaning set forth in this Section, unless its use clearly
				requires a different meaning.
"Accounts receivable", "receivables", or "State agency accounts
				receivable" shall mean amounts due a State agency that are legally enforceable,
				that have not been lawfully certified as uncollectible, and for which there is
				no legal barrier to referral to the Bureau.
"Act" shall mean the Illinois State Collection Act of 1986 [30
				ILCS 210 ].
"Bureau" shall mean the Debt Collection Bureau of the Illinois
				Department of Revenue.
"Certified collection specialist" or "collection specialist"
				shall mean an individual who has provided to the Bureau adequate documentation
				of training, experience, and expertise in the field of collection of public
				debt and has been certified by the Bureau as a collection specialist. A
				certified collection specialist may be an individual employed directly by the
				Bureau or one employed by a private collection firm.
"Certified debt" shall mean delinquent debt that has been
				certified by the referring agency and accepted for collection by the Bureau, as
				provided in this Part.
"Delinquent debt" shall mean a debt to the State or any of its
				agencies that is owed by any person or entity, that is $10 or more, and that is
				more than 90 days past due. The following debts shall not be considered
				delinquent for purposes of this definition:
debts that are the subject of pending administrative or
				judicial review;
debts that are covered by an informal or formal payment
				agreement, so long as the debtor is current in payments under the terms of the
				payment agreement.
"Referring agency" shall mean the State agency that refers
				delinquent debt to the Bureau for collection.
"State agency" shall have the meaning found in the Illinois
				State Auditing Act [30 ILCS
				5/1-7 ].
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.60 - Referral of Delinquent Debt

Current through Register Vol. 48, No. 28, July 12, 2024
a) Beginning July 1, 2004 for the Departments
			 of Public Aid and Employment Security and July 1, 2005 for universities and
			 other State agencies, State agencies shall refer to the Bureau all debt owed to
			 the State, provided that the debt satisfies the requirements for referral of
			 delinquent debt as established in this Part.[30 ILCS
			 210/3 ] This Part shall apply to all such debt
			 referrals.
b) The debt collection
			 provisions of the Act and this Part may be utilized by the General Assembly,
			 the Supreme Court and the several courts of this State, and the
			 constitutionally elected State Officers, at their discretion, provided that the
			 debt satisfies the requirements for referral of delinquent debt as established
			 in this Part. [30 ILCS
			 210/2 ]
c)
			 While this Part does not apply to the Department of Public Aid with regard to
			 child support debts, the collection of which is governed by the requirements of
			 Title IV, Part D of the federal Social Security Act, the Department of Public
			 Aid may refer child support debts to the Bureau, provided that the debt
			 satisfies the requirements for referral of delinquent debt as provided in this
			 Section. All such referred debt shall remain an obligation under the Department
			 of Public Aid's Child Support Enforcement Program subject to the requirements
			 of Title IV, Part D of the federal Social Security Act, including the continued
			 use of federally mandated enforcement remedies and techniques by the Department
			 of Public Aid. [30 ILCS 210/5(h),
			 10(g) ]
d) While this Part does not apply to the
			 Department of Employment Security with regard to debts to any federal account,
			 including but not limited to the Unemployment Trust Fund, and penalties and
			 interest assessed under the Unemployment Insurance Act, the Department of
			 Employment Security may refer those debts to the Bureau, provided that the debt
			 satisfies the requirements for referral of delinquent debt as provided in this
			 Part. [30 ILCS
			 210/5 (h-1), 10(g-1)]
e) Prior to referring delinquent debt to the
			 Bureau, and anytime thereafter upon the request of the Bureau, the referring
			 agency shall collect and provide to the Bureau the following information:
1) about the debt:
A) the amount of the delinquent debt
			 (including fees, penalties, and interest);
B) the date the debt was incurred;
C) a brief description of the type of the
			 debt;
D) a summary of all action
			 taken to collect the debt to date; and
E) any other information concerning the debt
			 within its possession needed by the Bureau to perform its responsibilities
			 under the Act and this Part, as requested by the Bureau.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.70 - Debt Accepted for Collection

Current through Register Vol. 48, No. 28, July 12, 2024
The Bureau will accept for collection delinquent debt that
				meets the following criteria, unless the debt is otherwise excluded from
				collection by the Bureau under the Act or this Part:
a) The debt has been certified to the Bureau
			 by the referring agency as provided in Section
			 1200.90;
b) The referring agency has notified the
			 debtor of the amount and basis for the debt, the potential for referral of the
			 debt to the Bureau, and the procedure and time limitations for contesting to
			 the referring agency the validity of the debt;
c) The debtor did not contest the debt in
			 writing within 90 days from the date the referring agency provided notice of
			 the debt to the debtor;
d) The debt
			 has been transmitted to the Bureau in a format approved by it; and
e) The debt is not of the type listed in
			 Section
			 1200.80.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.80 - Debt Not Accepted for Collection

Current through Register Vol. 48, No. 28, July 12, 2024
The Bureau will not accept for collection the following types
				of debt:
a) debt secured by an
			 interest in real property [30 ILCS
			 210/5(j) ];
b) receivables currently the subject of an
			 ongoing wage levy, whether that levy is the result of a judgment entered in
			 circuit court or an administrative levy issued without judgment;
c) receivables currently the subject of
			 litigation being pursued in the State of Illinois through the Office of the
			 Attorney General, State's Attorneys' Offices or, where authorized by the
			 Attorney General, by private counsel retained on behalf of the
			 agency;
d) debt that has been
			 discharged in bankruptcy or that is currently in bankruptcy
			 proceedings;
e) receivables not
			 reported on the Illinois Office of the Comptroller Receivables
			 Report;
f) debt owed to any federal
			 account, including, but not limited to, federally regulated pension trust
			 funds, unless otherwise provided under this Part;
g) deferred receivables, as defined in the
			 Comptroller's Receivables Report;
h) loans, contracts, and agreements of any
			 kind with other governmental entities;
i) debt that was referred to a private
			 collection firm by the referring agency prior to July 1, 2005, and that has
			 been with that firm for 90 days or less;
j) debt that has been deemed uncollectible,
			 absent factual assertions by the referring agency that, due to circumstances
			 not known at the time the delinquent debt was deemed uncollectible, additional
			 collection efforts are warranted [30
			 ILCS 210/10(e) ];
k) debt for which it would not be in the
			 State's best economic interest for the Bureau to assume collection
			 responsibility, as determined by the Bureau.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.90 - Certification of Debt

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 The Bureau shall not accept debt for collection unless that debt has been
			 certified by the referring agency as provided in this Section.
b) The referring agency shall provide to the
			 Bureau for each delinquent debt that it refers for collection a certification
			 that contains the following:
1) a statement
			 that the debt qualifies for referral to, and collection by, the Bureau, as
			 provided by the Act and this Part;
2) a statement that there are no legal
			 restrictions relating to collection of the debt by the Bureau;
3) a statement that the referring agency has
			 notified the debtor of the amount and basis for the debt, the procedure and
			 time limitations for contesting the validity of the debt to the referring
			 agency, and the potential for referral of the debt to the Bureau; and
4) a statement that the debtor did not
			 dispute the debt in writing to the referring agency within 90 days after the
			 date of notice of the debt by the referring agency.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.100 - Collection of Certified Debt

Current through Register Vol. 48, No. 28, July 12, 2024
a) Once the certified debt is accepted for
			 collection, the Bureau shall make every reasonable effort to collect the debt
			 using all collection tools available, including, but not limited to, the
			 Comptroller's Offset System and the employment of private collection agencies,
			 as well as its own collections personnel. [30
			 ILCS 210/10(a) ] As part of its
			 collection efforts, the Bureau may direct the referring agency to place the
			 certified debt with the Comptroller's Offset System or to enter into a
			 repayment plan with the debtor.
b)
			 The Bureau shall have the sole authority to let contracts withprivate
			 collection agencies for the collection of debt referred to and accepted by the
			 Bureau under this Part. [30
			 ILCS 210/10(b) ]
1) Any contract with a private collection
			 firm for the collection of debt referred to and accepted by the Bureau under
			 this Part shall be let pursuant to the provisions of the Illinois Procurement
			 Code [30 ILCS 500 ] and the Standard Procurement Rules (44 Ill. Adm. Code 1).
			 Selection of private collection firms by the Bureau shall be made through the
			 Procurement Code's request for proposal process.
2) Any such contract shall specify that
			 theprivate collection agency's fee shall be on a contingency basis and that the
			 private collection agency shall not be entitled to collect a contingency fee
			 for any debt collected through the efforts of any State or federal offset
			 system. [30
			 ILCS 210/10(b) ]
3) Any such contract let after the effective
			 date of this rulemaking should provide that debt referred to the firm for which
			 there have been no payments or other activity must be returned to the agency
			 after 180 days.
4) The referring
			 agency shall be responsible for working directly with the private collection
			 firm in the placement of its certified debt and for providing to the private
			 collection firm information in its possession concerning the certified debt and
			 the debtor, as provided in Section
			 1200.60(e)
			 of this Part, or as directed by the Bureau.
5) The Bureau shall be responsible for
			 managing and monitoring the collection performance of the private collection
			 firms in regard to debt collected on its behalf.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.110 - Uncollectible Debt

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 The Bureau shall deem delinquent debt, which it has accepted for collection,
			 uncollectible when it has exhausted all reasonable collection
			 efforts.
b) Prior to deeming any
			 delinquent debt uncollectible, the Bureau shall document efforts to accomplish
			 the following collection objectives:
1)
			 confirm the current location of the debtor;
2) locate evidence of the debtor's assets;
			 and
3) use all reasonable and
			 available collections tools to collect the delinquent debt.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.120 - Deposit of Amounts Collected

Current through Register Vol. 48, No. 28, July 12, 2024
a) Any amounts collected under this Part,
			 including amounts collected by outside collection firms under contract with the
			 Bureau, and including any amount that results in overpayment of the delinquent
			 debt, shall be deposited in, or transferred to the appropriate funds, as
			 specified by statute.
1) Allocation of the
			 amounts collected and deposited in the appropriate funds shall be the
			 responsibility of the referring agency.
2) The referring agency shall bear the
			 responsibility for adjusting overpayments.
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.130 - Appropriations from Debt Collection Fund

Current through Register Vol. 48, No. 28, July 12, 2024
Moneys in the Debt Collection Fund shall be appropriated only
				for the administrative costs of the Bureau. On the last day of each fiscal
				year, unappropriated moneys and moneys otherwise deemed unneeded for the next
				fiscal year remaining in the Debt Collection Fund may be transferred into the
				General Revenue Fund at the Governor's reasonable discretion. [30
				ILCS 210/10(h) ]
Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1200 - DEBT COLLECTION BUREAU › Section 1200.150 - Recordkeeping and Reporting

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Bureau shall notify the referring
			 agency within 60 days after the collection of a delinquent debt, or any portion
			 thereof, collected by the Bureau's own collection specialists.
b) The Bureau shall maintain documentation of
			 the efforts undertaken to collect certified debt and the results of those
			 efforts for a period of three years after its collection efforts on that debt
			 ceased.
c) The Director of the
			 Department of Revenue shall report annually to the General Assembly and State
			 Comptroller upon the debt collection efforts of the Bureau. Each report shall
			 include an analysis of the overdue debts owed to the State. [30
			 ILCS 210/10(j) ]
d) The reporting requirements of this Part
			 are in addition to any reporting required by the Comptroller, and the debt
			 reporting requirements established by the Comptroller shall be followed by all
			 State agencies. [30 ILCS
			 210/2 ]