RAUSCHENBERGER-SULLIVAN-SIEBEN-RONEN AND HALVORSON.
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
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1
END OF INQUIRY
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