The Romeoville Village Board on Wednesday night approved the creation of a fire insurance board, a move that is expected to boost Fire Department finances.
The five-member Foreign Fire Insurance Board will oversee the use of revenue the village collects from a 2 percent tax on fire insurance premiums paid to out-of-state insurance companies.
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Several other Chicago suburbs, including University Park, Naperville and Hoffman Estates, have similar boards, Fire Chief Carl Churulo said.
The money will be earmarked for such department projects as new equipment and additional training programs.
Churulo said foreign fire tax revenues total $6,000 to $8,000 a year. As the village grows, so will those revenues, he said.
The Romeoville Foreign Fire Insurance Board’s chairman will be firefighter Jon Ibrahim.