Ill. Admin. Code tit. 41, § 293.20 – Purpose and Qualifications | Midpage
§ 293.20
Ill. Admin. Code tit. 41, § 293.20
Purpose and Qualifications
AUTHORITY: Implementing and authorized by Section 15 of the Fire Sprinkler Dormitory Act [110 ILCS 47/15].OFFICE OF THE STATE FIRE MARSHAL
a) OSFM and the Authority will jointly administer a program to provide low-interest loans to post-secondary educational institutions for the planning, purchasing, installing, upgrading, altering, modifying, fixing or repairing of a fire sprinkler system or fire sprinkler systems.
b) 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. A loan for the purchase of fire sprinkler systems shall not exceed $1,000,000 in any single fiscal year to any post-secondary educational institution.