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92_SB0606gms
State of Illinois
OFFICE OF THE GOVERNOR
Springfield, Illinois 62706
George H. Ryan
GOVERNOR
August 16, 2001
To the Honorable Members of
The Illinois Senate
92nd General Assembly
Pursuant to Article IV, Section 9(b) of the Illinois
Constitution of 1970, I hereby veto and return Senate Bill
606 entitled "AN ACT concerning energy efficiency."
Senate Bill 606 purports to establish within the Illinois
Development Finance Authority a low interest loan program for
energy efficiency improvements in governmental, commercial
and certain multi-family buildings. Although Senate Bill 606
mandates that IDFA issue taxable and tax-exempt bonds on
behalf of the low interest loan fund and limits the repayment
period for loans to not more than 8 years, the sponsors of
the legislation failed to provide any appropriation or
funding mechanism to allow IDFA to establish this new
program.
Although, I am a strong advocate of energy efficiency and
weatherization assistance, I cannot support this unfunded
mandate that purports to create a bond-funded low interest
energy efficiency loan program, but does not responsibly
address how the debt on such bonds would be repaid. In
addition, I recently signed House Bill 1599 (Public Act
92-0012) creating the Illinois Resource Development and
Energy Security Act. This Act provides a mechanism to allow
the Department of Commerce and Community Affairs to pursue
additional energy efficiency resources from private, public
and other sources. If such funds become available, DCCA will
be able to make loans or grants to all of the entities
proposed under Senate Bill 606.
For these reasons, I hereby veto and return Senate Bill
606.
Sincerely,
George H. Ryan
GOVERNOR