Bill Status of HB3481 102nd General Assembly
Short Description: ELECTRIC VEHICLE-FINANCE PROG
Rep. Denyse Wang Stoneback
|Session Sine Die
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Electric Vehicle Charging Station Financing Program Act. Provides that the Electric Vehicle Charging Station Financing Program is to be administered by the Office of the State Treasurer. Provides that loans under the Program shall be used for the design, development, purchase, and installation of qualified electric vehicle charging stations in the State of Illinois either for use by private homeowners or for use by small businesses. Provides for funding of Program loans. Provides requirements for borrowers and lenders in applying for loans under the Program. Provides for the adoption of rules. Provides that State agencies may promote the Program as a financial solution for specified purposes. Requires the State Treasurer to annually submit a report concerning the Program to the General Assembly and Governor. Provides for the content of the report.