State of Illinois
92nd General Assembly
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92_SB0606eng

 
SB606 Engrossed                               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,  loan
14    guarantees,  and  interest  rate write downs and by financing
15    the administration of loans, loan  guarantees,  and  interest
16    rate  write  downs  and the provision of technical assistance
17    related thereto to fund  energy  efficiency  improvements  in
18    governmental,  commercial, and certain multi-family and other
19    buildings.

20        (20 ILCS 3505/7.92 new)
21        Sec. 7.92.  Energy Efficiency Revolving Loan Fund.  There
22    is  hereby created the Energy Efficiency Revolving Loan Fund,
23    hereafter referred to in Sections 7.90 through  7.96  as  the
24    "Fund".  The Treasurer of the Authority shall have custody of
25    the Fund, which shall be held outside the State treasury. The
26    Authority  is authorized to issue both tax exempt and taxable
27    bonds on behalf of the Fund. The Authority is  authorized  to
28    accept  any  and  all  loan  repayments,  interest  earnings,
29    proceeds  from  defaults  or  delinquencies,  appropriations,
30    grants,  gifts,  loans,  or  other  payments  from  public or
 
SB606 Engrossed             -2-               LRB9206069ACtmA
 1    private entities, including  public  utilities,  for  deposit
 2    into the Fund.

 3        (20 ILCS 3505/7.94 new)
 4        Sec. 7.94.  Loan program.
 5        (a)  The Authority, in cooperation with the Department of
 6    Commerce and Community Affairs, shall administer a program to
 7    provide    zero-interest    loans   for   energy   efficiency
 8    improvements. Loans may be made either by the Authority or by
 9    other lenders using loan guarantees or  interest  rate  write
10    downs provided by the Authority. Loans may be made for either
11    of the following:
12             (1)  Projects   in   governmental,  commercial,  and
13        certain   multi-family   buildings   in   the   following
14        categories:
15                  (A)  In  an  existing  building,  with  a  peak
16             demand of 50 kilowatts or more, to  reduce  electric
17             demand  to  achieve  an  electric  load  shape  that
18             exhibits  a  ratio  of  no  more  than  1.3  to 1.0,
19             peak-to-average load.
20                  (B)  In a new  building,  with  an  anticipated
21             peak  electric  demand  of  50 kilowatts or more, to
22             design an electric load shape to exhibit a ratio  of
23             no more than 1.3 to 1.0, peak-to-average load.
24                  (C)  In an existing building, to reduce natural
25             gas  consumption  by  at  least  20% and by at least
26             8,000 therms.
27             (2)  The bulk purchase, by an  entity  with  100  or
28        more   members,   of   domestic   high-efficiency  energy
29        appliances,   energy   monitoring   devices,   or   clean
30        small-scale energy production devices.
31        (b)  The loan repayment period shall be no longer than  8
32    years.
33        (c)  The   Authority   must  require  suitable  proof  of
 
SB606 Engrossed             -3-               LRB9206069ACtmA
 1    expected project performance as a condition for approval of a
 2    loan.

 3        (20 ILCS 3505/7.96 new)
 4        Sec. 7.96.  Report.  The Authority shall submit an annual
 5    report to the  Governor  and  the  General  Assembly  on  the
 6    effects  of the projects supported by the loan program on the
 7    total, statewide demand for and consumption  of  natural  gas
 8    and  electricity,  including  recommendations  on the need to
 9    continue or modify the program.

10        Section 99.  Effective date.  This Act takes effect  upon
11    becoming law.

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