92nd General Assembly
Summary of SB1565
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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 loans at no more than      
   2% interest for this purpose, with repayment periods of no longer than      
   8 years. Effective immediately.                                             
        SENATE AMENDMENT NO. 1.                                                
        In provisions concerning the loan program,  provides  that  loans      
   may be made for the purchase and installation of any energy efficiency      
   measure having a financial payback of no more than 7 years.                 
          FISCAL NOTE (Illinois Development Finance Authority)                 
          This legislation is not subject to an appropriation nor does         
          the Authority receive State appropriation. However, it may be        
          necessary for the Authority to procure outside services to           
          administer the loan program. Furthermore, depending on the size      
          of the Fund, it may be necessary for the Authority to issue          
          bonds to either fund or serve the program. Therefore, the            
          fiscal impact on the Authority cannot be determined at this          
Last action on Bill: PUBLIC ACT.............................. 92-0757

   Last action date: AUG-02-2002

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


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