Senate Sponsors: RAUSCHENBERGER-SULLIVAN-SIEBEN-RONEN AND HALVORSON. House Sponsors: NOVAK-FRANKS-HOLBROOK-SCULLY-ERWIN Short description: ENERGY EFFICIENCY LOAN FUND Synopsis of Bill as introduced: Amends the Illinois Development Finance Authority Act. Provides that it is in the public interest to reduce the costs of energy supplies and services by providing loans and by financing the administration of loans and the provision of technical assistance related thereto to fund energy efficiency improvements in governmental, commercial, and certain multi-family and other buildings. Authorizes the Authority to provide zero-interest loans for this purpose, with repayment periods of no longer than 8 years. Requires the Authority to report to the Governor and the General Assembly on the effects of the loan program on statewide demand and consumption of natural gas and electricity. Effective immediately. SENATE AMENDMENT NO. 1. Makes changes in the Section concerning the findings and declaration of policy for the Energy Efficiency Revolving Loan Fund. Authorizes the Authority to issue both tax exempt and taxable bonds on behalf of the Fund. Provides that loans may be made either by the Authority or by other lenders using loan guarantees or interest rate write downs provided by the Authority. Provides that loans may be made for projects in governmental, commercial, and certain multi-family buildings, in an existing building, with a demand of 50 kilowatts or more to reduce electric demand to achieve an electric load shape that exhibits a ratio of no more than 1.3 to 1.0, peak-to-average load. Provides that the Authority must require suitable proof of expected project performance as a condition for approval of a loan. Makes other changes. HOUSE AMENDMENT NO. 1. Provides that the loan program shall provide loans at no more than 2% interest for energy efficiency improvements. Provides that the Department shall assist in the loan application and review process, including the provision of statewide access to technical assistance for the proper completion and submission of applications. Provides that the Authority shall give priority to specified projects. Provides that the annual report to the Governor and the General Assembly shall be submitted on or before January 15 of each year. Last action on Bill: TOTAL VETO STANDS Last action date: NOV-15-2001 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status