IL SB2690

Increases the maximum loan amount for fire truck purchases from $250,000 to $350,000 per fire department or fire protection district.

Establishes tiered interest rates for brush truck purchases: 2% if built entirely outside Illinois, 1% if partially built in Illinois, and 0% if built entirely in Illinois.

Continues the fire truck revolving loan program under joint administration of the Illinois Finance Authority and the State Fire Marshal, funded by the Fire Truck Revolving Loan Fund.

Sets a separate maximum loan limit of $100,000 per brush truck and requires minimum annual repayment of at least 5% of principal or remaining balance (whichever is less) over a maximum 20-year term.

Validates all loan actions taken between January 1, 2004 and the effective date of this Section under the previously repealed Rural Bond Bank Act provisions.