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92_SB0606 LRB9206069ACtmA 1 AN ACT concerning energy efficiency. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Development Finance Authority 5 Act is amended by adding Sections 7.90, 7.92, 7.94, and 7.96 6 as follows: 7 (20 ILCS 3505/7.90 new) 8 Sec. 7.90. Energy Efficiency Revolving Loan Fund; 9 findings and declaration of policy. It is hereby found and 10 declared that there exists an urgent need to provide 11 financial incentives for the improvement of energy 12 efficiency. It is in the public interest to reduce the costs 13 of energy supplies and services by providing loans and by 14 financing the administration of loans and the provision of 15 technical assistance related thereto to fund energy 16 efficiency improvements in governmental, commercial, and 17 certain multi-family and other buildings. 18 (20 ILCS 3505/7.92 new) 19 Sec. 7.92. Energy Efficiency Revolving Loan Fund. There 20 is hereby created the Energy Efficiency Revolving Loan Fund, 21 hereafter referred to in Sections 7.90 through 7.96 as the 22 "Fund". The Treasurer of the Authority shall have custody of 23 the Fund, which shall be held outside the State treasury. 24 The Authority is authorized to accept any and all loan 25 repayments, interest earnings, proceeds from defaults or 26 delinquencies, appropriations, grants, gifts, loans, or other 27 payments from public or private entities, including public 28 utilities, for deposit into the Fund. 29 (20 ILCS 3505/7.94 new) -2- LRB9206069ACtmA 1 Sec. 7.94. Loan program. 2 (a) The Authority, in cooperation with the Department of 3 Commerce and Community Affairs, shall administer a program to 4 provide zero-interest loans for energy efficiency 5 improvements. Loans may be made for either of the following: 6 (1) Projects in governmental, commercial, and 7 certain multi-family buildings to eligible applicants in 8 the following categories: 9 (A) In an existing building, with a peak 10 demand of 50 kilowatts or more, to reduce connected 11 electric load shape to exhibit a ratio of no more 12 than 1.3 to 1.0, peak-to-average load. 13 (B) In a new building, with an anticipated 14 peak electric demand of 50 kilowatts or more, to 15 design connected electric load shape to exhibit a 16 ratio of no more than 1.3 to 1.0, peak-to-average 17 load. 18 (C) In an existing building, to reduce natural 19 gas consumption by at least 20% and by at least 20 8,000 therms. 21 (2) The bulk purchase, by an entity with 100 or 22 more members, of domestic high-efficiency energy 23 appliances, energy monitoring devices, or clean 24 small-scale energy production devices. 25 (b) The loan repayment period shall be no longer than 8 26 years. 27 (c) The Authority must require suitable proof of project 28 performance as a condition for approval of a loan. 29 (20 ILCS 3505/7.96 new) 30 Sec. 7.96. Report. the Authority shall submit an annual 31 report to the Governor and the General Assembly on the 32 effects of the projects supported by the loan program on the 33 total, statewide demand for and consumption of natural gas -3- LRB9206069ACtmA 1 and electricity, including recommendations on the need to 2 continue or modify the program. 3 Section 99. Effective date. This Act takes effect upon 4 becoming law.