[ Search ] [ Legislation ] [ Bill Summary ]
[ Home ] [ Back ] [ Bottom ]
90_SB1227
20 ILCS 687/6-6
35 ILCS 5/206.1 new
Amends the Renewable Energy, Energy Efficiency, and Coal
Resources Development Law of 1997. Increases from $3,000,000
to $30,000,000 the amount to be contributed by electric
suppliers for the Energy Efficiency Trust Fund. Authorizes
moneys in that fund to be expended for purchases of products
to enhance energy efficiency. Requires program criteria to
be established by January 1, 1999. Amends the Illinois
Income Tax Act to create a tax credit equal to 25% of the
amount expended for energy efficiency products and projects.
Effective immediately.
LRB9007783JSgc
LRB9007783JSgc
1 AN ACT relating to tax credits for expenditures for
2 projects and products to enhance energy efficiency.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Renewable Energy, Energy Efficiency, and
6 Coal Resources Development Law of 1997 is amended by changing
7 Section 6-6 as follows:
8 (20 ILCS 687/6-6)
9 (Section scheduled to be repealed on December 16, 2007)
10 Sec. 6-6. Energy efficiency program.
11 (a) For the year beginning January 1, 1998, and
12 thereafter as provided in this Section, each electric utility
13 and each alternative retail electric supplier supplying
14 electric power and energy to retail customers located in the
15 State of Illinois shall contribute annually to the Department
16 a pro rata share of a total amount of $30,000,000 $3,000,000
17 based upon the number of kilowatt-hours sold by each such
18 entity in the 12 months preceding the year of contribution.
19 These contributions shall be remitted to the Department on or
20 before June 30 of each year the contribution is due. The
21 funds received by the Department pursuant to this Section
22 shall be subject to the appropriation of funds by the General
23 Assembly. The Department shall place the funds remitted
24 under this Section in a trust fund, that is hereby created in
25 the State Treasury, called the Energy Efficiency Trust Fund.
26 (b) The Department shall disburse the moneys as they
27 become available in the Energy Efficiency Trust Fund to
28 residential electric customers to fund projects and purchases
29 of products that which the Department has determined will
30 promote energy efficiency in the State of Illinois. The
31 Department shall establish a list of projects and products
-2- LRB9007783JSgc
1 eligible for grants and other financial incentives from the
2 Energy Efficiency Trust Fund including, but not limited to,
3 supporting energy efficiency efforts for low-income
4 households, replacing energy inefficient windows with more
5 efficient windows, replacing energy inefficient appliances
6 with more efficient appliances, replacing energy inefficient
7 lighting with more efficient lighting, insulating dwellings
8 and buildings, and such other projects and products that
9 which will increase energy efficiency in homes and rental
10 properties.
11 (c) The Department shall establish criteria and an
12 application process for this grant program of grants and
13 other financial incentives by no later than January 1, 1999.
14 (d) The Department shall conduct a study of other
15 possible energy efficiency improvements and evaluate methods
16 for promoting energy efficiency and conservation, especially
17 for the benefit of low-income customers.
18 (e) The Department of Revenue shall cooperate with the
19 Department of Commerce and Community Affairs to establish an
20 income tax credit for individual homeowners, renters, and
21 landlords of 25% of the amount spent on the projects and
22 purchases of products as described in subsection (b)
23 commencing January 1, 1999. The Department of Commerce and
24 Community Affairs shall establish criteria for projects and
25 purchases of products that are eligible for the income tax
26 credit by January 1, 1999. The Department of Revenue shall
27 also cooperate with the Department of Commerce and Community
28 Affairs to provide for a sales tax abatement for the
29 purchases of energy efficient products commencing January 1,
30 1999. The income tax credits provided under this program
31 shall be limited to a total of $50,000,000 each year. The
32 income tax credit program shall be limited to 6 years.
33 (f) (e) The Department shall submit an annual report to
34 the General Assembly evaluating the effectiveness of the
-3- LRB9007783JSgc
1 projects and programs provided in this Section, and
2 recommending further legislation that which will encourage
3 additional development and implementation of energy
4 efficiency projects and programs in Illinois and other
5 actions that help to meet the goals of this Section.
6 (Source: P.A. 90-561, eff. 12-16-97.)
7 Section 10. The Illinois Income Tax Act is amended by
8 adding Section 206.1 as follows:
9 (35 ILCS 5/206.1 new)
10 Sec. 206.1. Energy efficiency tax credit. Until
11 December 31, 2003, a homeowner, renter, or landlord subject
12 to this Act shall be entitled to a credit against the tax
13 imposed by subsections (a) and (b) of Section 201 in an
14 amount not to exceed 25% of the amount spent by the
15 homeowner, renter, or landlord on projects and products that
16 are designed to promote energy efficiency and deemed eligible
17 for a credit by the Department of Commerce and Community
18 Affairs pursuant to Section 6-6 of the Renewable Energy,
19 Energy Efficiency, and Coal Resources Development Law of
20 1997.
21 Section 99. Effective date. This Act takes effect upon
22 becoming law.