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92_SB0606
LRB9206069ACtmA
1 AN ACT concerning energy efficiency.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Development Finance Authority
5 Act is amended by adding Sections 7.90, 7.92, 7.94, and 7.96
6 as follows:
7 (20 ILCS 3505/7.90 new)
8 Sec. 7.90. Energy Efficiency Revolving Loan Fund;
9 findings and declaration of policy. It is hereby found and
10 declared that there exists an urgent need to provide
11 financial incentives for the improvement of energy
12 efficiency. It is in the public interest to reduce the costs
13 of energy supplies and services by providing loans and by
14 financing the administration of loans and the provision of
15 technical assistance related thereto to fund energy
16 efficiency improvements in governmental, commercial, and
17 certain multi-family and other buildings.
18 (20 ILCS 3505/7.92 new)
19 Sec. 7.92. Energy Efficiency Revolving Loan Fund. There
20 is hereby created the Energy Efficiency Revolving Loan Fund,
21 hereafter referred to in Sections 7.90 through 7.96 as the
22 "Fund". The Treasurer of the Authority shall have custody of
23 the Fund, which shall be held outside the State treasury.
24 The Authority is authorized to accept any and all loan
25 repayments, interest earnings, proceeds from defaults or
26 delinquencies, appropriations, grants, gifts, loans, or other
27 payments from public or private entities, including public
28 utilities, for deposit into the Fund.
29 (20 ILCS 3505/7.94 new)
-2- LRB9206069ACtmA
1 Sec. 7.94. Loan program.
2 (a) The Authority, in cooperation with the Department of
3 Commerce and Community Affairs, shall administer a program to
4 provide zero-interest loans for energy efficiency
5 improvements. Loans may be made for either of the following:
6 (1) Projects in governmental, commercial, and
7 certain multi-family buildings to eligible applicants in
8 the following categories:
9 (A) In an existing building, with a peak
10 demand of 50 kilowatts or more, to reduce connected
11 electric load shape to exhibit a ratio of no more
12 than 1.3 to 1.0, peak-to-average load.
13 (B) In a new building, with an anticipated
14 peak electric demand of 50 kilowatts or more, to
15 design connected electric load shape to exhibit a
16 ratio of no more than 1.3 to 1.0, peak-to-average
17 load.
18 (C) In an existing building, to reduce natural
19 gas consumption by at least 20% and by at least
20 8,000 therms.
21 (2) The bulk purchase, by an entity with 100 or
22 more members, of domestic high-efficiency energy
23 appliances, energy monitoring devices, or clean
24 small-scale energy production devices.
25 (b) The loan repayment period shall be no longer than 8
26 years.
27 (c) The Authority must require suitable proof of project
28 performance as a condition for approval of a loan.
29 (20 ILCS 3505/7.96 new)
30 Sec. 7.96. Report. the Authority shall submit an annual
31 report to the Governor and the General Assembly on the
32 effects of the projects supported by the loan program on the
33 total, statewide demand for and consumption of natural gas
-3- LRB9206069ACtmA
1 and electricity, including recommendations on the need to
2 continue or modify the program.
3 Section 99. Effective date. This Act takes effect upon
4 becoming law.