Section 110.10  Purpose and Scope

a)         The purpose of the Illinois Industrial Coal Utilization Program is to increase the environmentally sound use of Illinois Coal by Illinois manufacturers and industries. (Section 9 of the Build Illinois Bond Act as amended by P.A. 84-1070, effective November 27, 1985, hereafter sometimes referred to as "the Act").

b)         The Department is authorized to use monies deposited in the Illinois Industrial Coal Utilization Fund, the Build Illinois Purposes Fund or the Build Illinois Bond Fund, subject to appropriation, and to accept guarantees from individuals, partnerships, joint ventures, corporations and governmental agencies for the purpose of implementing a revolving loan program to partially finance new coal burning facilities or conversion of existing facilities to Illinois Coal use.

c)         The Department, subject to the approval of the Illinois Coal Development Board, is authorized to make below market rate loans available for Industrial Coal Projects.  Any loan or series of loans shall be limited to an amount not to exceed the lesser of $2,500,000 or 25% of the Total Project Cost.