Senate Sponsors: RAUSCHENBERGER-RONEN-SULLIVAN, HALVORSON AND DEL VALLE. House Sponsors: NOVAK-CURRIE-HULTGREN-HAMOS 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 loans at no more than 2% interest for this purpose, with repayment periods of no longer than 8 years. Effective immediately. SENATE AMENDMENT NO. 1. In provisions concerning the loan program, provides that loans may be made for the purchase and installation of any energy efficiency measure having a financial payback of no more than 7 years. FISCAL NOTE (Illinois Development Finance Authority) This legislation is not subject to an appropriation nor does the Authority receive State appropriation. However, it may be necessary for the Authority to procure outside services to administer the loan program. Furthermore, depending on the size of the Fund, it may be necessary for the Authority to issue bonds to either fund or serve the program. Therefore, the fiscal impact on the Authority cannot be determined at this time. Last action on Bill: PUBLIC ACT.............................. 92-0757 Last action date: AUG-02-2002 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status