IL SB1998

Creates a Propane Purchase Assistance Revolving Loan Program administered by the Illinois Finance Authority to provide short-term low-interest or zero-interest loans to propane distributors and small businesses and farmers that use propane.

Establishes the Propane Purchase Assistance Revolving Loan Fund as a special fund in the State treasury, funded with $20,000,000 transferred from the General Revenue Fund within 5 business days of the act's effective date.

Creates a temporary Propane Purchase Assistance Program under the Department of Human Services for low-income residents with household income not exceeding 186% of federal poverty guidelines, providing compensation to energy providers for propane supplied between December 1, 2013 and May 15, 2014.

Funds the temporary program with $10,000,000 from the General Revenue Fund, with all remaining funds transferred back to the General Revenue Fund by May 31, 2014.

Requires the Illinois Finance Authority and Department to adopt rules, including emergency rules, to implement both the revolving loan program and temporary propane assistance program.