Illinois General Assembly - Bill Status for HB5776
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 Bill Status of HB5776  94th General Assembly


House Sponsors
Rep. Thomas Holbrook - Art Tenhouse - William B. Black, Chapin Rose and Ron Stephens

Last Action
DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
220 ILCS 5/9-201from Ch. 111 2/3, par. 9-201
220 ILCS 5/Art. XX heading new
220 ILCS 5/20-101 new
220 ILCS 5/20-105 new
220 ILCS 5/20-110 new
220 ILCS 5/20-115 new
220 ILCS 5/20-120 new
220 ILCS 5/20-125 new
220 ILCS 5/20-127 new
220 ILCS 5/20-130 new
220 ILCS 5/20-135 new
220 ILCS 5/20-140 new
220 ILCS 5/20-145 new
220 ILCS 5/20-150 new
220 ILCS 5/20-155 new
220 ILCS 5/20-160 new
220 ILCS 5/20-165 new
220 ILCS 5/20-170 new
220 ILCS 5/20-175 new
220 ILCS 5/20-180 new
810 ILCS 5/9-102from Ch. 26, par. 9-102
810 ILCS 5/9-108from Ch. 26, par. 9-108
810 ILCS 5/9-301from Ch. 26, par. 9-301
810 ILCS 5/9-515

Synopsis As Introduced
Amends the Public Utilities Act. Provides that an electric utility that served fewer than 1,000,000 retail customers on December 31, 2005 may propose a deferral on its books of account for later recovery in rates on any portion of its costs of purchasing electric power and energy incurred to serve residential customers during a specific period. Allows the Illinois Commerce Commission to authorize the issuance of rate mitigation bonds, secured through an irrevocable financing order imposing a non-bypassable bond charge, by such an electric utility or other financing entity designated by the electric utility. Provides conditions on the issuance of rate mitigation bonds. Adds provisions concerning financing orders, the State pledge to holders of rate mitigation bonds, proceeds of rate mitigation bonds, residential customers assessed for bond charges, recourse against an issuer, maintaining records of bond charges, security, transfers of bondable property, successors to electric utilities, subsequent ratemaking, and severability. Makes other changes. Amends the Uniform Commercial Code. Makes changes concerning bondable property in provisions concerning definitions, sufficiency of a description, perfection and priority of security interests, and duration and effectiveness of financing statements. Effective immediately.

DateChamber Action
  3/30/2006HouseFiled with the Clerk by Rep. Thomas Holbrook
  3/30/2006HouseFirst Reading
  3/30/2006HouseReferred to Rules Committee
  4/3/2006HouseAdded Chief Co-Sponsor Rep. Art Tenhouse
  4/4/2006HouseAdded Chief Co-Sponsor Rep. William B. Black
  11/15/2006HouseAdded Co-Sponsor Rep. Chapin Rose
  11/15/2006HouseAdded Co-Sponsor Rep. Ron Stephens
  1/9/2007HouseSession Sine Die

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