92nd General Assembly
Summary of SB0606
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Short description: 
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 zero-interest loans      
   for this purpose, with repayment periods of no longer  than  8  years.      
   Requires  the  Authority  to  report  to  the Governor and the General      
   Assembly on the effects of the loan program on  statewide  demand  and      
   consumption of natural gas and electricity.  Effective immediately.         
        SENATE AMENDMENT NO. 1.                                                
        Makes  changes  in  the  Section  concerning  the  findings   and      
   declaration  of  policy for the Energy Efficiency Revolving Loan Fund.      
   Authorizes the Authority to issue both tax exempt and taxable bonds on      
   behalf of the Fund.  Provides that loans may be  made  either  by  the      
   Authority  or  by other lenders using loan guarantees or interest rate      
   write downs provided by the Authority.  Provides  that  loans  may  be      
   made   for   projects   in   governmental,   commercial,  and  certain      
   multi-family buildings, in an existing building, with a demand  of  50      
   kilowatts  or  more  to  reduce electric demand to achieve an electric      
   load shape that  exhibits  a  ratio  of  no  more  than  1.3  to  1.0,      
   peak-to-average  load.   Provides  that  the  Authority  must  require      
   suitable  proof  of  expected  project  performance as a condition for      
   approval of a loan.  Makes other changes.                                   
        HOUSE AMENDMENT NO. 1.                                                 
        Provides that the loan program shall provide loans  at  no  more       
   than  2%  interest  for energy efficiency improvements.  Provides that      
   the Department  shall  assist  in  the  loan  application  and  review      
   process,  including  the  provision  of  statewide access to technical      
   assistance for the proper completion and submission  of  applications.      
   Provides that the Authority shall give priority to specified projects.      
   Provides  that  the  annual  report  to  the  Governor and the General      
   Assembly shall be submitted on or before January 15 of each year.           
Last action on Bill: TOTAL VETO STANDS

   Last action date: NOV-15-2001

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   1


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