DIGEST OF INTRODUCED BILL
Firefighting equipment and grants. Eliminates the firefighting and emergency equipment revolving loan fund (loan fund) and creates the firefighting and emergency equipment grant fund (grant fund) administered by the office of the state fire marshal. Repeals the fire safety equipment revolving loan account (loan account) in the build Indiana fund. Releases the obligation of a loan recipient under the loan fund and the loan account to pay the remaining balance due on the principal plus interest of a loan. Transfers funds remaining in the loan fund to the grant fund. Transfers $500,000 per month to the grant fund from the build Indiana fund. Provides that a fire protection territory may establish a cumulative building and equipment fund.