RAUSCHENBERGER-RONEN-SULLIVAN, HALVORSON AND DEL VALLE.
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
Last action on Bill: PUBLIC ACT.............................. 92-0757
Last action date: AUG-02-2002
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1
END OF INQUIRY
Full Text Bill Status