Full Text of HB5379 103rd General Assembly
HB5379 103RD GENERAL ASSEMBLY | | | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024 HB5379 Introduced 2/9/2024, by Rep. Lawrence "Larry" Walsh, Jr. SYNOPSIS AS INTRODUCED: | | 20 ILCS 3501/850-10 | | 20 ILCS 3501/850-15 | |
| Amends the Illinois Finance Authority Act. Provides that each Climate Bank-funded project must include a fully executed project labor agreement for any construction project, pay the prevailing wage to construction workers in accordance with the Prevailing Wage Act and the federal Davis-Bacon Act, and include participation benchmarks during construction for apprentices from a U.S. Department of Labor-registered apprenticeship program. In its role as the Climate Bank for the State, provides that the Authority shall consider creating clean energy jobs, promoting high-road labor standards in renewable energy and energy efficiency, and developing a pipeline for highly skilled workers to enter the clean energy job market. |
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| | A BILL FOR |
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| 1 | | AN ACT concerning State government. | 2 | | Be it enacted by the People of the State of Illinois, | 3 | | represented in the General Assembly: | 4 | | Section 5. The Illinois Finance Authority Act is amended | 5 | | by changing Sections 850-10 and 850-15 as follows: | 6 | | (20 ILCS 3501/850-10) | 7 | | Sec. 850-10. Powers and duties. | 8 | | (a) The Authority shall have the powers enumerated in this | 9 | | Act to assist in the development and implementation of clean | 10 | | energy in the State. The powers enumerated in this Article | 11 | | shall be in addition to all other powers of the Authority | 12 | | conferred in this Act, including those related to clean energy | 13 | | and the provision of clean water, drinking water, and | 14 | | wastewater treatment. The powers of the Authority to issue | 15 | | bonds, notes, and other obligations to finance loans | 16 | | administered by the Illinois Environmental Protection Agency | 17 | | under the Public Water Supply Loan Program or the Water | 18 | | Pollution Control Loan Program or other similar programs shall | 19 | | not be limited or otherwise affected by this amendatory Act of | 20 | | the 102nd General Assembly. | 21 | | (b) In its role as the Climate Bank of the State, the | 22 | | Authority shall have the power to: (i) administer programs and | 23 | | funds appropriated by the General Assembly for clean energy |
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| 1 | | projects in eligible communities and environmental justice | 2 | | communities or owned by eligible persons, (ii) support | 3 | | investment in the clean energy and clean water, drinking | 4 | | water, and wastewater treatment, (iii) support and otherwise | 5 | | promote investment in clean energy projects to foster the | 6 | | growth, development, and commercialization of clean energy | 7 | | projects and related enterprises, and (iv) stimulate demand | 8 | | for clean energy and the development of clean energy projects. | 9 | | (c) In addition to, and not in limitation of, any other | 10 | | power of the Authority set forth in this Section or any other | 11 | | provisions of the general statutes, the Authority shall have | 12 | | and may exercise the following powers in furtherance of or in | 13 | | carrying out its clean energy powers and purposes: | 14 | | (1) To enter into joint ventures and invest in and | 15 | | participate with any person, including, without | 16 | | limitation, government entities and private corporations, | 17 | | engaged primarily in the development of clean energy | 18 | | projects, provided that members of the Authority or | 19 | | officers may serve as directors, members, or officers of | 20 | | any such business entity, and such service shall be deemed | 21 | | to be in the discharge of the duties or within the scope of | 22 | | the employment of any such member or officer, or Authority | 23 | | or officers, as the case may be, so long as such member or | 24 | | officer does not receive any compensation or direct or | 25 | | indirect financial benefit as a result of serving in such | 26 | | role. |
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| 1 | | (2) To utilize funding sources, including, but not | 2 | | limited to: | 3 | | (A) funds repurposed from existing programs | 4 | | providing financing support for clean energy projects, | 5 | | provided any transfer of funds from such existing | 6 | | programs shall be subject to approval by the General | 7 | | Assembly and shall be used for expenses of financing, | 8 | | grants, and loans; | 9 | | (B) any federal funds that can be used for clean | 10 | | energy purposes; | 11 | | (C) charitable gifts, grants, and contributions as | 12 | | well as loans from individuals, corporations, | 13 | | university endowment funds, and philanthropic | 14 | | foundations for clean energy projects or for the | 15 | | provision of clean water, drinking water, and | 16 | | wastewater treatment; and | 17 | | (D) earnings and interest derived from financing | 18 | | support activities for clean energy projects financed | 19 | | by the Authority. | 20 | | (3) To enter into contracts with private sources to | 21 | | raise capital. | 22 | | (d) The Authority may finance working capital, refinance | 23 | | outstanding indebtedness of any person, and otherwise assist | 24 | | in the investment of equity from any source, public or | 25 | | private, in connection with clean energy projects or any other | 26 | | projects authorized by this Act. |
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| 1 | | (e) The Authority may assess reasonable fees on its | 2 | | financing activities to cover its reasonable costs and | 3 | | expenses, as determined by the Authority. | 4 | | (f) The Authority shall make information regarding the | 5 | | rates, terms and conditions for all of its financing support | 6 | | transactions available to the public for inspection, including | 7 | | formal annual reviews by both a private auditor and the | 8 | | Comptroller, and providing details to the public on the | 9 | | Internet, provided public disclosure shall be restricted for | 10 | | patentable ideas, trade secrets, and proprietary or | 11 | | confidential commercial or financial information, disclosure | 12 | | of which may cause commercial harm to a nongovernmental | 13 | | recipient of such financing support and for other information | 14 | | exempt from public records disclosure pursuant to Section | 15 | | 1-210. | 16 | | (g) Each Climate Bank-funded project must include a fully | 17 | | executed project labor agreement for any construction project, | 18 | | pay the prevailing wage to any construction workers in | 19 | | accordance with the Prevailing Wage Act and the federal | 20 | | Davis-Bacon Act, and include participation benchmarks during | 21 | | any construction for apprentices from a U.S. Department of | 22 | | Labor-registered apprenticeship program. | 23 | | (Source: P.A. 102-662, eff. 9-15-21.) | 24 | | (20 ILCS 3501/850-15) | 25 | | Sec. 850-15. Purposes; Climate Bank. In its role as the |
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| 1 | | Climate Bank for the State, the Authority shall consider the | 2 | | following purposes: | 3 | | (1) the distribution of the benefits of clean energy | 4 | | in an equitable manner, including by evaluating benefits | 5 | | to eligible communities and equity investment eligible | 6 | | persons; | 7 | | (2) making clean energy accessible to all, especially | 8 | | eligible persons, through financing opportunities and | 9 | | grants for minority-owned businesses, as defined in the | 10 | | Business Enterprise for Minorities, Women, and Persons | 11 | | with Disabilities Act, and for low-income communities, | 12 | | eligible communities, environmental justice communities, | 13 | | and the businesses that serve these communities; and | 14 | | (3) accelerating the investment of private capital | 15 | | into clean energy projects in a manner reflective of the | 16 | | geographic, racial, ethnic, gender, and income-level | 17 | | diversity of the State ; and . | 18 | | (4) creating clean energy jobs, promoting high-road | 19 | | labor standards in renewable energy and energy efficiency, | 20 | | and developing a pipeline for highly skilled workers to | 21 | | enter the clean energy job market. | 22 | | (Source: P.A. 102-662, eff. 9-15-21.) |
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