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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB1623 Introduced 2/17/2021, by Rep. Emanuel Chris Welch SYNOPSIS AS INTRODUCED:
| | 20 ILCS 1105/10 | from Ch. 96 1/2, par. 7410 |
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Amends the Energy Conservation and Coal Development Act. Makes a technical
change in a Section concerning the evaluation of loan applications.
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| | A BILL FOR |
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| | HB1623 | | LRB102 03672 SPS 13685 b |
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| 1 | | AN ACT concerning State government.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Energy Conservation and Coal Development |
| 5 | | Act is amended by changing Section 10 as follows:
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| 6 | | (20 ILCS 1105/10) (from Ch. 96 1/2, par. 7410)
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| 7 | | Sec. 10. Evaluation of loan applications.
The
The |
| 8 | | Department shall evaluate applications for loans and make
such |
| 9 | | evaluations available to the Illinois Coal
Development Board. |
| 10 | | Evaluation of the loan applications
shall be based on, but not |
| 11 | | limited to, the following
criteria: |
| 12 | | (a) The length of time applicants will commit to using |
| 13 | | Illinois coal in
the facility which is modified,
acquired or |
| 14 | | constructed as a result of the project. The applicant must
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| 15 | | agree to use Illinois coal for at least the life of the loan as |
| 16 | | a condition
of such loan. Weight shall be given for longer |
| 17 | | commitments.
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| 18 | | (b) The total amount of Illinois coal used. Weight
shall |
| 19 | | be given
to projects using larger amounts of Illinois coal |
| 20 | | over the life of the loan.
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| 21 | | (c) The percentage of the total project costs the
State is |
| 22 | | asked to finance. Weight shall be given to projects which
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| 23 | | maximize the use of private funds or funds from other public |