HB494 - Virginia Fire and EMS Safety Loan Fund; created.

1 Co-Sponsor

Virginia Fire and EMS Safety Loan Fund. Creates the Virginia Fire and EMS Safety Loan Fund, to be administered by the Virginia Resources Authority. Under the bill, money in the Fund would be used exclusively for the financing of purchases by local fire and EMS services of at least $50,000 (i) for capital projects to construct or modernize facilities that house firefighting equipment or vehicles or ambulance or rescue vehicles; (ii) of firefighting apparatus, ambulances, or rescue vehicles; and (iii) of protective, accessory, or communication equipment for firefighting or EMS services. The bill also establishes the Joint Fire and EMS Loan Board, which shall be responsible for directing the distribution of loans from the Fund, with an emphasis on localities in need of financing assistance to meet minimum standards.