State of Illinois
92nd General Assembly
Legislation

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92_SB0606gms

 
                            State of Illinois
                         OFFICE OF THE GOVERNOR
                      Springfield, Illinois  62706
      George H. Ryan
      GOVERNOR
                                                    August 16, 2001
      To the Honorable Members of
        The Illinois Senate
      92nd General Assembly
          Pursuant to Article IV,  Section  9(b)  of  the  Illinois
      Constitution  of  1970,  I hereby veto and return Senate Bill
      606 entitled "AN ACT concerning energy efficiency."
          Senate Bill 606 purports to establish within the Illinois
      Development Finance Authority a low interest loan program for
      energy efficiency improvements  in  governmental,  commercial
      and certain multi-family buildings.  Although Senate Bill 606
      mandates  that  IDFA  issue  taxable  and tax-exempt bonds on
      behalf of the low interest loan fund and limits the repayment
      period for loans to not more than 8 years,  the  sponsors  of
      the  legislation  failed  to  provide  any  appropriation  or
      funding  mechanism  to  allow  IDFA  to  establish  this  new
      program.
          Although, I am a strong advocate of energy efficiency and
      weatherization  assistance,  I  cannot  support this unfunded
      mandate that purports to create a  bond-funded  low  interest
      energy  efficiency  loan  program,  but  does not responsibly
      address how the debt on  such  bonds  would  be  repaid.   In
      addition,  I  recently  signed  House  Bill  1599 (Public Act
      92-0012)  creating  the  Illinois  Resource  Development  and
      Energy Security Act.  This Act provides a mechanism to  allow
      the  Department  of  Commerce and Community Affairs to pursue
      additional energy efficiency resources from  private,  public
      and other sources.  If such funds become available, DCCA will
      be  able  to  make  loans  or  grants  to all of the entities
      proposed under Senate Bill 606.
          For these reasons, I hereby veto and return  Senate  Bill
      606.
                                             Sincerely,
                                             George H. Ryan
                                             GOVERNOR

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