State of Illinois
92nd General Assembly
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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.

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