State of Illinois
92nd General Assembly
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92_SB0606enr

 
SB606 Enrolled                                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 Enrolled             -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  loans  at  no  more  than  2%  interest  for  energy
 8    efficiency  improvements.  The Department shall assist in the
 9    loan application and review process, including the  provision
10    of  statewide  access  to technical assistance for the proper
11    completion and submission of applications. Loans may be  made
12    either  by  the  Authority  or  by  other  lenders using loan
13    guarantees or interest  rate  write  downs  provided  by  the
14    Authority. Loans may be made for either of the following:
15             (1)  Projects   in   governmental,  commercial,  and
16        certain   multi-family   buildings   in   the   following
17        categories:
18                  (A)  In  an  existing  building,  with  a  peak
19             demand of 50 kilowatts or more, to  reduce  electric
20             demand  to  achieve  an  electric  load  shape  that
21             exhibits  a  ratio  of  no  more  than  1.3  to 1.0,
22             peak-to-average load.
23                  (B)  In a new  building,  with  an  anticipated
24             peak  electric  demand  of  50 kilowatts or more, to
25             design an electric load shape to exhibit a ratio  of
26             no more than 1.3 to 1.0, peak-to-average load.
27                  (C)  In an existing building, to reduce natural
28             gas  consumption  by  at  least  20% and by at least
29             8,000 therms.
30             (2)  The bulk purchase, by an  entity  with  100  or
31        more   members,   of   domestic   high-efficiency  energy
32        appliances,   energy   monitoring   devices,   or   clean
33        small-scale energy production devices.
 
SB606 Enrolled             -3-                LRB9206069ACtmA
 1        (b)  The loan repayment period shall be no longer than  8
 2    years.
 3        (c)  The   Authority   must  require  suitable  proof  of
 4    expected project performance as a condition for approval of a
 5    loan.
 6        (d)  The Authority shall give priority to  projects  that
 7    (i)  demonstrate  innovative  and  efficient  ways to achieve
 8    demand reductions, (ii) may serve as a model for  replication
 9    in  other locations, or (iii) are proposed by governmental or
10    nonprofit organizations to promote both energy efficiency and
11    improved reliability of service.

12        (20 ILCS 3505/7.96 new)
13        Sec. 7.96.  Report.  The Authority shall submit an annual
14    report on or before January 15 of each year to  the  Governor
15    and  the  General  Assembly  on  the  effects of the projects
16    supported by the loan program on the total, statewide  demand
17    for and consumption of natural gas and electricity, including
18    recommendations  on  the  need  to  continue  or  modify  the
19    program.

20        Section  99.  Effective date.  This Act takes effect upon
21    becoming law.

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