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SB2306 Engrossed LRB104 08151 HLH 18199 b AN ACT concerning finance.
*LRB10408151HLH24729a* Sen.
Be it enacted by the People of the State of Illinois, represented in the General Assembly:
Rachel Ventura Filed:
Section 5.
4/1/2025 10400SB2306sam001 LRB104 08151 HLH 24729 a AMENDMENT TO SENATE BILL 2306 AMENDMENT NO.
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Amend Senate Bill 2306 by replacing everything after the enacting clause with the following:
"Section 5.
(b) The term "project" means an industrial project, clean energy project, conservation project, housing project, public purpose project, higher education project, health facility project, cultural institution project, municipal bond program project, PACE Project, agricultural facility or agribusiness, and "project" may include any combination of one or more of the foregoing undertaken jointly by any person with one or more other persons.
(b) The term "project" means an industrial project, clean energy project, conservation project, housing project, public purpose project, higher education project, health facility project, cultural institution project, municipal bond program 10400SB2306sam001 -2- LRB104 08151 HLH 24729 a project, PACE Project, agricultural facility or agribusiness, and "project" may include any combination of one or more of the foregoing undertaken jointly by any person with one or more other persons.
(c) The term "public purpose project" means (i) any project or facility, including without limitation land, buildings, structures, machinery, equipment and all other real SB2306 Engrossed - 2 - LRB104 08151 HLH 18199 b and personal property, which is authorized or required by law to be acquired, constructed, improved, rehabilitated, reconstructed, replaced or maintained by any unit of government or any other lawful public purpose, including provision of working capital, which is authorized or required by law to be undertaken by any unit of government or (ii) costs incurred and other expenditures, including expenditures for management, investment, or working capital costs, incurred in connection with the reform, consolidation, or implementation of the transition process as described in Articles 22B and 22C of the Illinois Pension Code.
(c) The term "public purpose project" means (i) any project or facility, including without limitation land, buildings, structures, machinery, equipment and all other real and personal property, which is authorized or required by law to be acquired, constructed, improved, rehabilitated, reconstructed, replaced or maintained by any unit of government or any other lawful public purpose, including provision of working capital, which is authorized or required by law to be undertaken by any unit of government or (ii) costs incurred and other expenditures, including expenditures for management, investment, or working capital costs, incurred in connection with the reform, consolidation, or implementation of the transition process as described in Articles 22B and 22C of the Illinois Pension Code.
(d) The term "industrial project" means the acquisition, construction, refurbishment, creation, development or redevelopment of any facility, equipment, machinery, real property or personal property for use by any instrumentality of the State or its political subdivisions, for use by any person or institution, public or private, for profit or not for profit, or for use in any trade or business, including, but not limited to, any industrial, manufacturing, clean energy, or commercial enterprise that is located within or outside the State, provided that, with respect to a project involving property located outside the State, the property must be owned, operated, leased or managed by an entity located within the State or an entity affiliated with an entity located within the State, and which is (1) a capital project or clean energy project, including, but not limited to:
(d) The term "industrial project" means the acquisition, construction, refurbishment, creation, development or redevelopment of any facility, equipment, machinery, real property or personal property for use by any instrumentality of the State or its political subdivisions, for use by any person or institution, public or private, for profit or not for profit, or for use in any trade or business, including, but not limited to, any industrial, manufacturing, clean energy, 10400SB2306sam001 -3- LRB104 08151 HLH 24729 a or commercial enterprise that is located within or outside the State, provided that, with respect to a project involving property located outside the State, the property must be owned, operated, leased or managed by an entity located within the State or an entity affiliated with an entity located within the State, and which is (1) a capital project or clean energy project, including, but not limited to:
(i) land and SB2306 Engrossed - 3 - LRB104 08151 HLH 18199 b any rights therein, one or more buildings, structures or other improvements, machinery and equipment, whether now existing or hereafter acquired, and whether or not located on the same site or sites;
(i) land and any rights therein, one or more buildings, structures or other improvements, machinery and equipment, whether now existing or hereafter acquired, and whether or not located on the same site or sites;
and (iii) all non-capital costs and expenses relating thereto or (2) any addition to, renovation, rehabilitation or improvement of a capital project or a clean energy project, or (3) any activity or undertaking within or outside the State, provided that, with respect to a project involving property located outside the State, the property must be owned, operated, leased or managed by an entity located within the State or an entity affiliated with an entity located within the State, which the Authority determines will aid, assist or encourage economic growth, development or redevelopment within the State or any area thereof, will promote the expansion, retention or diversification of employment opportunities within the State or any area thereof or will aid in stabilizing or developing any industry or economic sector of the State economy.
and (iii) all non-capital costs and expenses relating thereto or (2) any addition to, renovation, rehabilitation or improvement of a capital project or a clean energy project, or (3) any activity or undertaking within or outside the State, provided that, with respect to a project involving property located outside the State, the property must be owned, operated, leased or managed by an entity located within the State or an entity affiliated with an entity located within the State, which the Authority determines will aid, assist or encourage economic growth, 10400SB2306sam001 -4- LRB104 08151 HLH 24729 a development or redevelopment within the State or any area thereof, will promote the expansion, retention or diversification of employment opportunities within the State or any area thereof or will aid in stabilizing or developing any industry or economic sector of the State economy.
SB2306 Engrossed - 4 - LRB104 08151 HLH 18199 b (e) The term "bond" or "bonds" shall include bonds, notes (including bond, grant or revenue anticipation notes), certificates and/or other evidences of indebtedness representing an obligation to pay money, including refunding bonds.
(e) The term "bond" or "bonds" shall include bonds, notes (including bond, grant or revenue anticipation notes), certificates and/or other evidences of indebtedness representing an obligation to pay money, including refunding bonds.
(i) an agreement whereby a project acquired by the Authority by purchase, gift or lease is leased to any person, corporation or unit of local government which will use or cause the project to be used as a project as heretofore defined upon terms providing for lease rental payments at least sufficient to pay when due all principal of, interest and premium, if any, on any bonds of the Authority issued with respect to such project, providing for the maintenance, insuring and operation of the project on terms satisfactory to the Authority, providing for disposition of the project upon termination of the lease term, including purchase options or abandonment of the premises, and such other terms as may be deemed desirable by the Authority, or (ii) any agreement pursuant to which the Authority agrees to loan the proceeds of its bonds issued with respect to a project or other funds of the Authority to any person which will use or cause the project to be used as a project as heretofore defined or for any other lawful purpose upon terms providing for loan repayment installments at least sufficient to pay when due all principal of, interest and premium, if any, on any bonds of the SB2306 Engrossed - 5 - LRB104 08151 HLH 18199 b Authority, if any, issued with respect to the project or for any other lawful purpose, and providing for maintenance, insurance and other matters as may be deemed desirable by the Authority, or (iii) any financing or refinancing agreement entered into by the Authority under subsection (aa) of Section 801-40.
(i) an agreement whereby a project acquired by the Authority by purchase, gift or lease is leased to any person, corporation or unit of local government which will use or cause the project to be used as a project as heretofore defined upon terms providing for lease rental payments at least sufficient to pay when due all principal of, interest and premium, if any, on any bonds of the Authority issued with respect to such project, providing for the maintenance, insuring and operation of the project on terms satisfactory to the Authority, providing for disposition of the project upon termination of the lease term, including purchase options or abandonment of the premises, and such other terms as may be deemed desirable by the Authority, or (ii) any agreement 10400SB2306sam001 -5- LRB104 08151 HLH 24729 a pursuant to which the Authority agrees to loan the proceeds of its bonds issued with respect to a project or other funds of the Authority to any person which will use or cause the project to be used as a project as heretofore defined or for any other lawful purpose upon terms providing for loan repayment installments at least sufficient to pay when due all principal of, interest and premium, if any, on any bonds of the Authority, if any, issued with respect to the project or for any other lawful purpose, and providing for maintenance, insurance and other matters as may be deemed desirable by the Authority, or (iii) any financing or refinancing agreement entered into by the Authority under subsection (aa) of Section 801-40.
(i) The term "unit of government" means the federal government, the State or unit of local government, a school district, or any agency or instrumentality, office, officer, department, division, bureau, commission, college or university thereof.
(i) The term "unit of government" means the federal government, the State or unit of local government, a school district, or any agency or instrumentality, office, officer, department, division, bureau, commission, college or 10400SB2306sam001 -6- LRB104 08151 HLH 24729 a university thereof.
(b) any public or private institution, place, building, or agency required to be licensed under the Nursing Home Care Act, the Specialized Mental Health Rehabilitation Act of 2013, the ID/DD Community SB2306 Engrossed - 6 - LRB104 08151 HLH 18199 b Care Act, or the MC/DD Act;
(b) any public or private institution, place, building, or agency required to be licensed under the Nursing Home Care Act, the Specialized Mental Health Rehabilitation Act of 2013, the ID/DD Community Care Act, or the MC/DD Act;
(g) any public or private institution, place, building or agency engaged in providing training in the healing arts, including, but not limited to, schools of medicine, dentistry, osteopathy, optometry, podiatry, pharmacy or nursing, schools for the training of x-ray, laboratory or other health care technicians and schools for the training of para-professionals in the health care field;
(g) any public or private institution, place, building or agency engaged in providing training in the healing arts, including, but not limited to, schools of medicine, dentistry, osteopathy, optometry, podiatry, pharmacy 10400SB2306sam001 -7- LRB104 08151 HLH 24729 a or nursing, schools for the training of x-ray, laboratory or other health care technicians and schools for the training of para-professionals in the health care field;
(i) any public or private mental, SB2306 Engrossed - 7 - LRB104 08151 HLH 18199 b emotional or physical rehabilitation facility or any public or private educational, counseling, or rehabilitation facility or home, for those persons with a developmental disability, those who are physically ill or disabled, the emotionally disturbed, those persons with a mental illness or persons with learning or similar disabilities or problems;
(i) any public or private mental, emotional or physical rehabilitation facility or any public or private educational, counseling, or rehabilitation facility or home, for those persons with a developmental disability, those who are physically ill or disabled, the emotionally disturbed, those persons with a mental illness or persons with learning or similar disabilities or problems;
"Health facility" also means a public or private structure or structures suitable primarily for use as a laboratory, laundry, nurses or interns residence or other housing or hotel facility used in whole or in part for staff, employees or students and their families, patients or relatives of patients admitted for treatment or care in a health facility, or persons conducting business with a health facility, physician's facility, surgicenter, administration building, research facility, maintenance, storage or utility facility and all structures or facilities related to any of the foregoing or required or useful for the operation of a SB2306 Engrossed - 8 - LRB104 08151 HLH 18199 b health facility, including parking or other facilities or other supporting service structures required or useful for the orderly conduct of such health facility.
"Health facility" also means a public or private structure or structures suitable primarily for use as a laboratory, laundry, nurses or interns residence or other housing or hotel facility used in whole or in part for staff, 10400SB2306sam001 -8- LRB104 08151 HLH 24729 a employees or students and their families, patients or relatives of patients admitted for treatment or care in a health facility, or persons conducting business with a health facility, physician's facility, surgicenter, administration building, research facility, maintenance, storage or utility facility and all structures or facilities related to any of the foregoing or required or useful for the operation of a health facility, including parking or other facilities or other supporting service structures required or useful for the orderly conduct of such health facility.
(l) The term "health facility project", means a specific health facility work or improvement to be financed or refinanced (including without limitation through reimbursement of prior expenditures), acquired, constructed, enlarged, remodeled, renovated, improved, furnished, or equipped, with funds provided in whole or in part hereunder, any accounts receivable, working capital, liability or insurance cost or SB2306 Engrossed - 9 - LRB104 08151 HLH 18199 b operating expense financing or refinancing program of a health facility with or involving funds provided in whole or in part hereunder, or any combination thereof.
10400SB2306sam001 -9- LRB104 08151 HLH 24729 a (l) The term "health facility project", means a specific health facility work or improvement to be financed or refinanced (including without limitation through reimbursement of prior expenditures), acquired, constructed, enlarged, remodeled, renovated, improved, furnished, or equipped, with funds provided in whole or in part hereunder, any accounts receivable, working capital, liability or insurance cost or operating expense financing or refinancing program of a health facility with or involving funds provided in whole or in part hereunder, or any combination thereof.
(o) The term "revenues" means, with respect to any project, the rents, fees, charges, interest, principal repayments, collections and other income or profit derived therefrom.
(o) The term "revenues" means, with respect to any project, the rents, fees, charges, interest, principal repayments, collections and other income or profit derived 10400SB2306sam001 -10- LRB104 08151 HLH 24729 a therefrom.
(q) The term "cultural institution project" means, in the SB2306 Engrossed - 10 - LRB104 08151 HLH 18199 b case of a cultural institution, a cultural facility to be acquired, constructed, enlarged, remodeled, renovated, improved, furnished, or equipped, or any combination thereof.
(q) The term "cultural institution project" means, in the case of a cultural institution, a cultural facility to be acquired, constructed, enlarged, remodeled, renovated, improved, furnished, or equipped, or any combination thereof.
an academic facility, administrative facility, agricultural facility, assembly hall, athletic facility, auditorium, boating facility, campus, communication facility, computer facility, continuing education facility, classroom, dining hall, dormitory, exhibition hall, fire fighting facility, fire prevention facility, food service and preparation facility, gymnasium, greenhouse, health care facility, hospital, SB2306 Engrossed - 11 - LRB104 08151 HLH 18199 b housing, instructional facility, laboratory, library, maintenance facility, medical facility, museum, offices, parking area, physical education facility, recreational facility, research facility, stadium, storage facility, student union, study facility, theatre or utility.
10400SB2306sam001 -11- LRB104 08151 HLH 24729 a an academic facility, administrative facility, agricultural facility, assembly hall, athletic facility, auditorium, boating facility, campus, communication facility, computer facility, continuing education facility, classroom, dining hall, dormitory, exhibition hall, fire fighting facility, fire prevention facility, food service and preparation facility, gymnasium, greenhouse, health care facility, hospital, housing, instructional facility, laboratory, library, maintenance facility, medical facility, museum, offices, parking area, physical education facility, recreational facility, research facility, stadium, storage facility, student union, study facility, theatre or utility.
an administrative facility, aquarium, assembly hall, auditorium, botanical garden, exhibition hall, gallery, greenhouse, library, museum, scientific laboratory, theater or zoological facility, and shall also include, without limitation, books, works of art or music, animal, plant or aquatic life or other items for display, exhibition or performance.
an administrative facility, aquarium, assembly hall, auditorium, botanical garden, exhibition hall, gallery, greenhouse, library, museum, scientific laboratory, theater or 10400SB2306sam001 -12- LRB104 08151 HLH 24729 a zoological facility, and shall also include, without limitation, books, works of art or music, animal, plant or aquatic life or other items for display, exhibition or performance.
(t) "Private institution of higher education" means a SB2306 Engrossed - 12 - LRB104 08151 HLH 18199 b not-for-profit educational institution which is not owned by the State or any political subdivision, agency, instrumentality, district or municipality thereof, which is authorized by law to provide a program of education beyond the high school level and which:
(t) "Private institution of higher education" means a not-for-profit educational institution which is not owned by the State or any political subdivision, agency, instrumentality, district or municipality thereof, which is authorized by law to provide a program of education beyond the high school level and which:
(2) Provides an educational program for which it awards a bachelor's degree, or provides an educational program, admission into which is conditioned upon the prior attainment of a bachelor's degree or its equivalent, for which it awards a postgraduate degree, or provides not less than a 2-year program which is acceptable for full credit toward such a degree, or offers a 2-year program in engineering, mathematics, or the physical or biological sciences which is designed to prepare the student to work as a technician and at a semiprofessional level in engineering, scientific, or other technological fields which require the understanding and application of basic engineering, scientific, or mathematical principles or knowledge;
(2) Provides an educational program for which it awards a bachelor's degree, or provides an educational program, admission into which is conditioned upon the prior attainment of a bachelor's degree or its equivalent, for which it awards a postgraduate degree, or provides not less than a 2-year program which is acceptable for full credit toward such a degree, or offers a 2-year program in engineering, mathematics, or the physical or biological sciences which is designed to prepare the student to work as a technician and at a semiprofessional level in engineering, scientific, or other technological fields 10400SB2306sam001 -13- LRB104 08151 HLH 24729 a which require the understanding and application of basic engineering, scientific, or mathematical principles or knowledge;
(3) Is accredited by a nationally recognized accrediting agency or association or, if not so accredited, is an institution whose credits are accepted, on transfer, by not less than 3 institutions which are so SB2306 Engrossed - 13 - LRB104 08151 HLH 18199 b accredited, for credit on the same basis as if transferred from an institution so accredited, and holds an unrevoked certificate of approval under the Private College Act from the Board of Higher Education, or is qualified as a "degree granting institution" under the Academic Degree Act;
(3) Is accredited by a nationally recognized accrediting agency or association or, if not so accredited, is an institution whose credits are accepted, on transfer, by not less than 3 institutions which are so accredited, for credit on the same basis as if transferred from an institution so accredited, and holds an unrevoked certificate of approval under the Private College Act from the Board of Higher Education, or is qualified as a "degree granting institution" under the Academic Degree Act;
Academic institutions include, without limitation, libraries, archives, academic, scientific, educational or professional societies, institutions, associations or foundations having such purposes.
Academic institutions include, without limitation, libraries, archives, academic, scientific, educational or professional societies, 10400SB2306sam001 -14- LRB104 08151 HLH 24729 a institutions, associations or foundations having such purposes.
(v) The term "cultural institution" means any not-for-profit institution which is not owned by the State or any political subdivision, agency, instrumentality, district or municipality thereof, which institution engages in the cultural, intellectual, scientific, educational or artistic SB2306 Engrossed - 14 - LRB104 08151 HLH 18199 b enrichment of the people of the State.
(v) The term "cultural institution" means any not-for-profit institution which is not owned by the State or any political subdivision, agency, instrumentality, district or municipality thereof, which institution engages in the cultural, intellectual, scientific, educational or artistic enrichment of the people of the State.
(x) The term "agricultural facility" means land, any building or other improvement thereon or thereto, and any personal properties deemed necessary or suitable for use, whether or not now in existence, in farming, ranching, the production of agricultural commodities (including, without limitation, the products of aquaculture, hydroponics and silviculture) or the treating, processing or storing of such agricultural commodities when such activities are customarily engaged in by farmers as a part of farming and which land, building, improvement or personal property is located within the State, or is located outside the State, provided that, if such property is located outside the State, it must be owned, operated, leased, or managed by an entity located within the State or an entity affiliated with an entity located within the State.
(x) The term "agricultural facility" means land, any building or other improvement thereon or thereto, and any personal properties deemed necessary or suitable for use, whether or not now in existence, in farming, ranching, the production of agricultural commodities (including, without limitation, the products of aquaculture, hydroponics and silviculture) or the treating, processing or storing of such agricultural commodities when such activities are customarily engaged in by farmers as a part of farming and which land, 10400SB2306sam001 -15- LRB104 08151 HLH 24729 a building, improvement or personal property is located within the State, or is located outside the State, provided that, if such property is located outside the State, it must be owned, operated, leased, or managed by an entity located within the State or an entity affiliated with an entity located within the State.
(y) The term "lender" with respect to financing of an SB2306 Engrossed - 15 - LRB104 08151 HLH 18199 b agricultural facility or an agribusiness, means any federal or State chartered bank, Federal Land Bank, Production Credit Association, Bank for Cooperatives, federal or State chartered savings and loan association or building and loan association, Small Business Investment Company or any other institution qualified within this State to originate and service loans, including, but without limitation to, insurance companies, credit unions and mortgage loan companies.
(y) The term "lender" with respect to financing of an agricultural facility or an agribusiness, means any federal or State chartered bank, Federal Land Bank, Production Credit Association, Bank for Cooperatives, federal or State chartered savings and loan association or building and loan association, Small Business Investment Company or any other institution qualified within this State to originate and service loans, including, but without limitation to, insurance companies, credit unions and mortgage loan companies.
(z) The term "agribusiness" means any sole proprietorship, limited partnership, co-partnership, joint venture, corporation or cooperative which operates or will operate a facility located within the State or outside the State, provided that, if any facility is located outside the State, it must be owned, operated, leased, or managed by an entity located within the State or an entity affiliated with an entity located within the State, that is related to the processing of agricultural commodities (including, without limitation, the products of aquaculture, hydroponics and silviculture) or the manufacturing, production or construction of agricultural buildings, structures, equipment, implements, and supplies, or any other facilities or processes used in agricultural production.
(z) The term "agribusiness" means any sole proprietorship, limited partnership, co-partnership, joint venture, corporation or cooperative which operates or will operate a facility located within the State or outside the State, provided that, if any facility is located outside the State, it must be owned, operated, leased, or managed by an entity located within the State or an entity affiliated with an 10400SB2306sam001 -16- LRB104 08151 HLH 24729 a entity located within the State, that is related to the processing of agricultural commodities (including, without limitation, the products of aquaculture, hydroponics and silviculture) or the manufacturing, production or construction of agricultural buildings, structures, equipment, implements, and supplies, or any other facilities or processes used in agricultural production.
Agribusiness includes but is not SB2306 Engrossed - 16 - LRB104 08151 HLH 18199 b limited to the following:
Agribusiness includes but is not limited to the following:
(7) manufacturing and supplying of agricultural commodity processing machinery and equipment, including machinery and equipment used in slaughter, treatment, handling, collecting, preparation, canning or packaging of agricultural commodities;
(7) manufacturing and supplying of agricultural commodity processing machinery and equipment, including machinery and equipment used in slaughter, treatment, handling, collecting, preparation, canning or packaging of 10400SB2306sam001 -17- LRB104 08151 HLH 24729 a agricultural commodities;
(10) fuel processing and development facilities that SB2306 Engrossed - 17 - LRB104 08151 HLH 18199 b produce fuel from agricultural commodities or byproducts;
(10) fuel processing and development facilities that produce fuel from agricultural commodities or byproducts;
net cash value of life insurance;
10400SB2306sam001 -18- LRB104 08151 HLH 24729 a net cash value of life insurance;
(bb) The term "liability" with respect to financing of any agricultural facility or any agribusiness shall include, but SB2306 Engrossed - 18 - LRB104 08151 HLH 18199 b not be limited to the following:
(bb) The term "liability" with respect to financing of any agricultural facility or any agribusiness shall include, but not be limited to the following:
(dd) The term "housing project" means a specific work or improvement located within the State or outside the State and undertaken to provide residential dwelling accommodations, including the acquisition, construction or rehabilitation of lands, buildings and community facilities and in connection therewith to provide nonhousing facilities which are part of the housing project, including land, buildings, improvements, equipment and all ancillary facilities for use for offices, stores, retirement homes, hotels, financial institutions, service, health care, education, recreation or research establishments, or any other commercial purpose which are or are to be related to a housing development, provided that any work or improvement located outside the State is owned, operated, leased or managed by an entity located within the State, or any entity affiliated with an entity located within the State.
(dd) The term "housing project" means a specific work or improvement located within the State or outside the State and undertaken to provide residential dwelling accommodations, including the acquisition, construction or rehabilitation of lands, buildings and community facilities and in connection therewith to provide nonhousing facilities which are part of the housing project, including land, buildings, improvements, equipment and all ancillary facilities for use for offices, stores, retirement homes, hotels, financial institutions, service, health care, education, recreation or research establishments, or any other commercial purpose which are or are to be related to a housing development, provided that any work or improvement located outside the State is owned, 10400SB2306sam001 -19- LRB104 08151 HLH 24729 a operated, leased or managed by an entity located within the State, or any entity affiliated with an entity located within the State.
(ee) The term "conservation project" means any project including the acquisition, construction, rehabilitation, maintenance, operation, or upgrade that is intended to create or expand open space or to reduce energy usage through SB2306 Engrossed - 19 - LRB104 08151 HLH 18199 b efficiency measures.
(ee) The term "conservation project" means any project including the acquisition, construction, rehabilitation, maintenance, operation, or upgrade that is intended to create or expand open space or to reduce energy usage through efficiency measures.
(ii) The term "participating lender" means any trust company, bank, savings bank, credit union, merchant bank, investment bank, broker, investment trust, pension fund, building and loan association, savings and loan association, insurance company, venture capital company, or other institution approved by the Authority which provides a portion of the financing for a project.
(ii) The term "participating lender" means any trust 10400SB2306sam001 -20- LRB104 08151 HLH 24729 a company, bank, savings bank, credit union, merchant bank, investment bank, broker, investment trust, pension fund, building and loan association, savings and loan association, insurance company, venture capital company, or other institution approved by the Authority which provides a portion of the financing for a project.
(jj) The term "loan participation" means any loan in which SB2306 Engrossed - 20 - LRB104 08151 HLH 18199 b the Authority co-operates with a participating lender to provide all or a portion of the financing for a project.
(jj) The term "loan participation" means any loan in which the Authority co-operates with a participating lender to provide all or a portion of the financing for a project.
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(mm) The term "clean energy project" means the acquisition, construction, refurbishment, creation, development or redevelopment of any facility, equipment, machinery, real property, or personal property for use by the State or any unit of local government, school district, agency or instrumentality, office, department, division, bureau, commission, college, or university of the State, for use by any person or institution, public or private, for profit or not for profit, or for use in any trade or business, which the Authority determines will aid, assist, or encourage the development or implementation of clean energy in the State, or as otherwise contemplated by Article 850.
(mm) The term "clean energy project" means the acquisition, construction, refurbishment, creation, development or redevelopment of any facility, equipment, machinery, real property, or personal property for use by the State or any unit of local government, school district, agency or instrumentality, office, department, division, bureau, commission, college, or university of the State, for use by any person or institution, public or private, for profit or 10400SB2306sam001 -21- LRB104 08151 HLH 24729 a not for profit, or for use in any trade or business, which the Authority determines will aid, assist, or encourage the development or implementation of clean energy in the State, or as otherwise contemplated by Article 850.
(nn) The term "Climate Bank" means the Authority in the exercise of those powers conferred on it by this Act related to clean energy or clean water, drinking water, or wastewater SB2306 Engrossed - 21 - LRB104 08151 HLH 18199 b treatment.
(nn) The term "Climate Bank" means the Authority in the exercise of those powers conferred on it by this Act related to clean energy or clean water, drinking water, or wastewater treatment.
Specifically, eligible persons means the following people:
10400SB2306sam001 -22- LRB104 08151 HLH 24729 a Specifically, eligible persons means the following people:
(qq) "Environmental justice community" means the SB2306 Engrossed - 22 - LRB104 08151 HLH 18199 b definition of that term based on existing methodologies and findings used and as may be updated by the Illinois Power Agency and its program administrator in the Illinois Solar for All Program.
(qq) "Environmental justice community" means the definition of that term based on existing methodologies and findings used and as may be updated by the Illinois Power Agency and its program administrator in the Illinois Solar for All Program.
(a) The Authority shall have power (i) to accept grants, loans or appropriations from the federal government or the State, or any agency or instrumentality thereof, or, in the case of clean energy projects, any not-for-profit philanthropic or other charitable organization, public or private, to be used for the operating expenses of the Authority, or for any purposes of the Authority, including the making of direct loans of such funds with respect to projects, and (ii) to enter into any agreement with the federal government or the State, or any agency or instrumentality thereof, in relationship to such grants, loans or appropriations.
(a) The Authority shall have power (i) to accept grants, loans or appropriations from the federal government or the State, or any agency or instrumentality thereof, or, in the case of clean energy projects, any not-for-profit philanthropic or other charitable organization, public or private, to be used for the operating expenses of the Authority, or for any purposes of the Authority, including the 10400SB2306sam001 -23- LRB104 08151 HLH 24729 a making of direct loans of such funds with respect to projects, and (ii) to enter into any agreement with the federal government or the State, or any agency or instrumentality thereof, in relationship to such grants, loans or appropriations.
(b) The Authority shall have power to procure and enter into contracts for any type of insurance and indemnity SB2306 Engrossed - 23 - LRB104 08151 HLH 18199 b agreements covering loss or damage to property from any cause, including loss of use and occupancy, or covering any other insurable risk.
(b) The Authority shall have power to procure and enter into contracts for any type of insurance and indemnity agreements covering loss or damage to property from any cause, including loss of use and occupancy, or covering any other insurable risk.
The bonds may bear interest payable at any time or times and at any rate or rates, notwithstanding any other provision of law to the contrary, and such rate or rates may be established by an index or formula which may be implemented or established by persons appointed or retained therefor by the Authority, or may bear no interest or may bear interest payable at maturity or upon redemption prior to maturity, may bear such date or dates, may be payable at such time or times and at such place or places, may mature at any time or times not later than 40 years from the date of issuance, may be sold at public or private sale at such time or times and at such price or prices, may be secured by such pledges, reserves, guarantees, letters of credit, insurance contracts or other SB2306 Engrossed - 24 - LRB104 08151 HLH 18199 b similar credit support or liquidity instruments, may be executed in such manner, may be subject to redemption prior to maturity, may provide for the registration of the bonds, and may be subject to such other terms and conditions all as may be provided by the resolution or indenture authorizing the issuance of such bonds.
The bonds may bear interest payable at any time or times and at any rate or rates, notwithstanding any other provision of law to the contrary, and such rate or rates may be established by an index or formula which may be implemented or established by persons appointed or retained therefor by the Authority, or may bear no interest or may bear interest 10400SB2306sam001 -24- LRB104 08151 HLH 24729 a payable at maturity or upon redemption prior to maturity, may bear such date or dates, may be payable at such time or times and at such place or places, may mature at any time or times not later than 40 years from the date of issuance, may be sold at public or private sale at such time or times and at such price or prices, may be secured by such pledges, reserves, guarantees, letters of credit, insurance contracts or other similar credit support or liquidity instruments, may be executed in such manner, may be subject to redemption prior to maturity, may provide for the registration of the bonds, and may be subject to such other terms and conditions all as may be provided by the resolution or indenture authorizing the issuance of such bonds.
Notwithstanding the form and tenor of any such bonds and in the absence of any express recital on the face thereof that it is non-negotiable, all such bonds shall be negotiable instruments.
Notwithstanding the form and tenor of any such bonds and in the absence of any express recital on the face thereof that it is non-negotiable, all 10400SB2306sam001 -25- LRB104 08151 HLH 24729 a such bonds shall be negotiable instruments.
The bonds may be secured as provided in the authorizing resolution by the receipts, revenues, income and other available funds of the Authority and by any amounts derived by the Authority from SB2306 Engrossed - 25 - LRB104 08151 HLH 18199 b the loan agreement or lease agreement with respect to the project or projects;
The bonds may be secured as provided in the authorizing resolution by the receipts, revenues, income and other available funds of the Authority and by any amounts derived by the Authority from the loan agreement or lease agreement with respect to the project or projects;
Any such pledge, assignment, lien or security interest for the benefit of the holders of the Authority's bonds shall be valid and binding from the time the bonds are issued without any physical delivery or further act, and shall be valid and binding as against and prior to the claims of all other parties having claims against the Authority or any other person irrespective of whether the other parties have notice of the pledge, assignment, lien or security interest.
Any such pledge, assignment, lien or security interest for the benefit of the holders of the Authority's bonds shall be valid and binding from the time the bonds are issued without any physical delivery or further act, and shall be valid and binding as against and prior to the claims of all other parties having claims against the Authority or any other person irrespective of whether the other parties have notice of the 10400SB2306sam001 -26- LRB104 08151 HLH 24729 a pledge, assignment, lien or security interest.
A remedy for any breach or default of the terms of any such agreement by the Authority may be by mandamus proceedings in any court of competent jurisdiction to compel the performance SB2306 Engrossed - 26 - LRB104 08151 HLH 18199 b and compliance therewith, but the agreement may prescribe by whom or on whose behalf such action may be instituted.
A remedy for any breach or default of the terms of any such agreement by the Authority may be by mandamus proceedings in any court of competent jurisdiction to compel the performance and compliance therewith, but the agreement may prescribe by whom or on whose behalf such action may be instituted.
The Authority shall have no independent power of condemnation but may acquire any property or rights therein obtained upon condemnation by any other authority, governmental entity or unit of local government with such power.
The Authority shall have no independent power of condemnation but may acquire any property 10400SB2306sam001 -27- LRB104 08151 HLH 24729 a or rights therein obtained upon condemnation by any other authority, governmental entity or unit of local government with such power.
(f) The Authority shall have power to develop, construct and improve either under its own direction, or through collaboration with any approved applicant, or to acquire through purchase or otherwise, any project, using for such SB2306 Engrossed - 27 - LRB104 08151 HLH 18199 b purpose the proceeds derived from the sale of its bonds or from governmental loans or grants, and to hold title in the name of the Authority to such projects.
(f) The Authority shall have power to develop, construct and improve either under its own direction, or through collaboration with any approved applicant, or to acquire through purchase or otherwise, any project, using for such purpose the proceeds derived from the sale of its bonds or from governmental loans or grants, and to hold title in the name of the Authority to such projects.
provided, however, that the rentals or loan repayments need not include costs met through the use of funds other than those obtained by the Authority through the issuance of its bonds or governmental loans;
provided, however, 10400SB2306sam001 -28- LRB104 08151 HLH 24729 a that the rentals or loan repayments need not include costs met through the use of funds other than those obtained by the Authority through the issuance of its bonds or governmental loans;
(2) a reasonable percentage additive to be agreed upon by the Authority and the borrower or tenant to cover a properly allocable portion of the Authority's general expenses, including, but not limited to, administrative expenses, SB2306 Engrossed - 28 - LRB104 08151 HLH 18199 b salaries and general insurance, and (3) an amount sufficient to pay when due all principal of, interest and premium, if any on, any bonds issued by the Authority with respect to the project.
(2) a reasonable percentage additive to be agreed upon by the Authority and the borrower or tenant to cover a properly allocable portion of the Authority's general expenses, including, but not limited to, administrative expenses, salaries and general insurance, and (3) an amount sufficient to pay when due all principal of, interest and premium, if any on, any bonds issued by the Authority with respect to the project.
The net proceeds from all such sales and the revenues or income from such leases shall be used to satisfy any indebtedness of the Authority with respect to such project and any balance may be used to pay any expenses of the Authority or be used for the further development, construction, acquisition or improvement of projects.
The net proceeds from all such sales and the revenues or income from such leases shall be used to satisfy any indebtedness of the Authority with respect to such project and any balance may be used to pay any expenses of the Authority or be used for the further development, construction, acquisition or improvement of 10400SB2306sam001 -29- LRB104 08151 HLH 24729 a projects.
SB2306 Engrossed - 29 - LRB104 08151 HLH 18199 b (i) The Authority shall have the power to make loans, or to purchase loan participations in loans made, to persons to finance a project, to enter into loan agreements or agreements with participating lenders with respect thereto, and to accept guarantees from persons of its loans or the resultant evidences of obligations of the Authority.
(i) The Authority shall have the power to make loans, or to purchase loan participations in loans made, to persons to finance a project, to enter into loan agreements or agreements with participating lenders with respect thereto, and to accept guarantees from persons of its loans or the resultant evidences of obligations of the Authority.
(l) At the request of the governing body of any unit of local government, the Authority is authorized to market such local government's revenue bond offerings by preparing bond issues for sale, advertising for sealed bids, receiving bids at its offices, making the award to the bidder that offers the most favorable terms or arranging for negotiated placements or underwritings of such securities.
(l) At the request of the governing body of any unit of local government, the Authority is authorized to market such local government's revenue bond offerings by preparing bond 10400SB2306sam001 -30- LRB104 08151 HLH 24729 a issues for sale, advertising for sealed bids, receiving bids at its offices, making the award to the bidder that offers the most favorable terms or arranging for negotiated placements or underwritings of such securities.
Sales by the Authority of revenue bonds under this Section shall in no way imply State guarantee SB2306 Engrossed - 30 - LRB104 08151 HLH 18199 b of such debt issue.
Sales by the Authority of revenue bonds under this Section shall in no way imply State guarantee of such debt issue.
The Authority shall determine the types of activities and projects for which the urban development action grants may be used, provided that such projects and activities are broadly defined to include all reasonable projects and activities the primary objectives of which are the development of viable urban communities, including decent housing and a suitable living environment, and expansion of economic opportunity, principally for persons of low and moderate incomes.
The Authority shall determine the types of activities and projects for which the urban development action grants may be used, provided that such projects and activities are broadly defined to include 10400SB2306sam001 -31- LRB104 08151 HLH 24729 a all reasonable projects and activities the primary objectives of which are the development of viable urban communities, including decent housing and a suitable living environment, and expansion of economic opportunity, principally for persons of low and moderate incomes.
The Authority shall monitor SB2306 Engrossed - 31 - LRB104 08151 HLH 18199 b the use of the grants, and shall provide for audits of the funds as well as recovery by the Authority of any funds determined to have been spent in violation of this subsection (n) or any rule or regulation promulgated hereunder.
The Authority shall monitor the use of the grants, and shall provide for audits of the funds as well as recovery by the Authority of any funds determined to have been spent in violation of this subsection (n) or any rule or regulation promulgated hereunder.
The loans shall be made from monies appropriated for such purpose from the Build Illinois Bond Fund.
The loans shall be made from monies appropriated for such purpose from the Build 10400SB2306sam001 -32- LRB104 08151 HLH 24729 a Illinois Bond Fund.
The terms of any loan made by the municipality under this subsection shall require repayment of the loan to the municipality upon any sale or SB2306 Engrossed - 32 - LRB104 08151 HLH 18199 b other transfer of the project.
The terms of any loan made by the municipality under this subsection shall require repayment of the loan to the municipality upon any sale or other transfer of the project.
(q) Grants may be awarded by the Authority to units of local government for the purpose of developing the appropriate infrastructure or defraying other costs to the local government in support of laboratory or research facilities provided that such grants may not exceed 40% of the cost to the unit of local government.
10400SB2306sam001 -33- LRB104 08151 HLH 24729 a (q) Grants may be awarded by the Authority to units of local government for the purpose of developing the appropriate infrastructure or defraying other costs to the local government in support of laboratory or research facilities provided that such grants may not exceed 40% of the cost to the unit of local government.
(r) In addition to the powers granted to the Authority SB2306 Engrossed - 33 - LRB104 08151 HLH 18199 b under subsection (i), and in all cases supplemental to it, the Authority may establish a direct loan program to make loans to, or may purchase participations in loans made by participating lenders to, individuals, partnerships, corporations, or other business entities for the purpose of financing an industrial project, as defined in Section 801-10 of this Act.
(r) In addition to the powers granted to the Authority under subsection (i), and in all cases supplemental to it, the Authority may establish a direct loan program to make loans to, or may purchase participations in loans made by participating lenders to, individuals, partnerships, corporations, or other business entities for the purpose of financing an industrial project, as defined in Section 801-10 of this Act.
The Authority shall have the power to use any appropriations from the State made especially for the Authority's direct loan program, or moneys at any time held by the Authority under this Act outside the State treasury in the custody of either the Treasurer of the Authority or a trustee or depository appointed by the Authority, for additional capital to make such loans or purchase such loan participations, or for the purposes of reserve funds or pledged funds which secure the Authority's obligations of repayment of any bond, note or other form of indebtedness established for the purpose of providing capital for which it intends to make such loans or purchase such loan participations.
The Authority shall have the power to use any appropriations from the State made especially for the Authority's direct loan program, or moneys at any time held by the Authority under this Act outside the State treasury in the custody of either the Treasurer of the Authority or a trustee or depository appointed by the Authority, for additional capital to make such loans or purchase such loan 10400SB2306sam001 -34- LRB104 08151 HLH 24729 a participations, or for the purposes of reserve funds or pledged funds which secure the Authority's obligations of repayment of any bond, note or other form of indebtedness established for the purpose of providing capital for which it intends to make such loans or purchase such loan participations.
For the purpose of obtaining such capital, the Authority may also enter into agreements with financial SB2306 Engrossed - 34 - LRB104 08151 HLH 18199 b institutions, participating lenders, and other persons for the purpose of administering a loan participation program, selling loans or developing a secondary market for such loans or loan participations.
For the purpose of obtaining such capital, the Authority may also enter into agreements with financial institutions, participating lenders, and other persons for the purpose of administering a loan participation program, selling loans or developing a secondary market for such loans or loan participations.
The Authority may establish and collect such fees and charges, determine and enforce such terms and conditions, and charge such interest rates as it determines to be necessary and appropriate to the successful administration of the direct loan program, including purchasing loan participations.
The 10400SB2306sam001 -35- LRB104 08151 HLH 24729 a Authority may establish and collect such fees and charges, determine and enforce such terms and conditions, and charge such interest rates as it determines to be necessary and appropriate to the successful administration of the direct loan program, including purchasing loan participations.
The Authority may require such interests in collateral and such guarantees as it determines are necessary to protect the SB2306 Engrossed - 35 - LRB104 08151 HLH 18199 b Authority's interest in the repayment of the principal and interest of each loan and loan participation made under the direct loan program.
The Authority may require such interests in collateral and such guarantees as it determines are necessary to protect the Authority's interest in the repayment of the principal and interest of each loan and loan participation made under the direct loan program.
(u) The Authority shall have the power to issue bonds, notes or other evidences of indebtedness, which may be used to make loans to units of local government which are authorized to enter into loan agreements and other documents and to issue bonds, notes and other evidences of indebtedness for the purpose of financing the protection of storm sewer outfalls, the construction of adequate storm sewer outfalls, and the provision for flood protection of sanitary sewage treatment plans, in counties that have established a stormwater management planning committee in accordance with Section 5-1062 of the Counties Code.
(u) The Authority shall have the power to issue bonds, notes or other evidences of indebtedness, which may be used to make loans to units of local government which are authorized to enter into loan agreements and other documents and to issue bonds, notes and other evidences of indebtedness for the purpose of financing the protection of storm sewer outfalls, the construction of adequate storm sewer outfalls, and the 10400SB2306sam001 -36- LRB104 08151 HLH 24729 a provision for flood protection of sanitary sewage treatment plans, in counties that have established a stormwater management planning committee in accordance with Section 5-1062 of the Counties Code.
The unit of local government shall pay back to the Authority the principal amount of the loan, plus annual SB2306 Engrossed - 36 - LRB104 08151 HLH 18199 b interest as determined by the Authority.
The unit of local government shall pay back to the Authority the principal amount of the loan, plus annual interest as determined by the Authority.
This subsection shall apply only to any bonds or notes as to which the Authority shall have determined, in the resolution authorizing the issuance of the bonds or notes, that this subsection shall apply.
This subsection shall apply only to any bonds or notes as to which the Authority shall have determined, in the resolution authorizing the issuance of the bonds or notes, that this 10400SB2306sam001 -37- LRB104 08151 HLH 24729 a subsection shall apply.
In the event of a withdrawal of moneys from a reserve fund established with respect to any issue or issues of bonds of the Authority to pay principal or interest on those bonds, the Chairperson of the Authority, as soon as SB2306 Engrossed - 37 - LRB104 08151 HLH 18199 b practicable, shall certify to the Governor the amount required to restore the reserve fund to the level required in the resolution or indenture securing those bonds.
In the event of a withdrawal of moneys from a reserve fund established with respect to any issue or issues of bonds of the Authority to pay principal or interest on those bonds, the Chairperson of the Authority, as soon as practicable, shall certify to the Governor the amount required to restore the reserve fund to the level required in the resolution or indenture securing those bonds.
(x) The Authority may enter into agreements or contracts with any person necessary or appropriate to place the payment obligations of the Authority under any of its bonds in whole or in part on any interest rate basis, cash flow basis, or other basis desired by the Authority, including without limitation agreements or contracts commonly known as "interest rate swap agreements", "forward payment conversion agreements", and "futures", or agreements or contracts to exchange cash flows or a series of payments, or agreements or contracts, including without limitation agreements or contracts commonly known as SB2306 Engrossed - 38 - LRB104 08151 HLH 18199 b "options", "puts", or "calls", to hedge payment, rate spread, or similar exposure;
(x) The Authority may enter into agreements or contracts with any person necessary or appropriate to place the payment obligations of the Authority under any of its bonds in whole or 10400SB2306sam001 -38- LRB104 08151 HLH 24729 a in part on any interest rate basis, cash flow basis, or other basis desired by the Authority, including without limitation agreements or contracts commonly known as "interest rate swap agreements", "forward payment conversion agreements", and "futures", or agreements or contracts to exchange cash flows or a series of payments, or agreements or contracts, including without limitation agreements or contracts commonly known as "options", "puts", or "calls", to hedge payment, rate spread, or similar exposure;
(10) financing summary;
10400SB2306sam001 -39- LRB104 08151 HLH 24729 a (10) financing summary;
SB2306 Engrossed - 39 - LRB104 08151 HLH 18199 b The disclosure of information pursuant to this subsection shall comply with the Freedom of Information Act.
The disclosure of information pursuant to this subsection shall comply with the Freedom of Information Act.
(aa) The Authority may finance or refinance (including, without limitation, through reimbursement of prior expenditures) any accounts receivable, working capital, liability, or insurance or noncapital cost or operating expense, or any combination thereof, for any unit of government, participating health institution, private institution of higher education, academic institution, cultural institution, or other person authorized to borrow funds from the Authority pursuant to this Act.
(aa) The Authority may finance or refinance (including, without limitation, through reimbursement of prior expenditures) any accounts receivable, working capital, liability, or insurance or noncapital cost or operating 10400SB2306sam001 -40- LRB104 08151 HLH 24729 a expense, or any combination thereof, for any unit of government, participating health institution, private institution of higher education, academic institution, cultural institution, or other person authorized to borrow funds from the Authority pursuant to this Act.
9-15-21.) SB2306 Engrossed - 40 - LRB104 08151 HLH 18199 b (20 ILCS 3501/850-10) Sec.
9-15-21.) (20 ILCS 3501/850-10) Sec.
(i) administer programs and funds appropriated by the General Assembly for clean energy projects in eligible communities and environmental justice communities or owned by eligible persons, (ii) support investment in the clean energy and clean water, drinking water, and wastewater treatment, (iii) support and otherwise promote investment in clean energy projects to foster the growth, development, and commercialization of clean energy projects and related enterprises, and (iv) stimulate demand for clean energy and the development of clean energy projects.
(i) administer programs and funds appropriated by the General Assembly for clean energy projects in eligible communities and environmental justice 10400SB2306sam001 -41- LRB104 08151 HLH 24729 a communities or owned by eligible persons, (ii) support investment in the clean energy and clean water, drinking water, and wastewater treatment, (iii) support and otherwise promote investment in clean energy projects to foster the growth, development, and commercialization of clean energy projects and related enterprises, and (iv) stimulate demand for clean energy and the development of clean energy projects.
SB2306 Engrossed - 41 - LRB104 08151 HLH 18199 b (c) In addition to, and not in limitation of, any other power of the Authority set forth in this Section or any other provisions of the general statutes, the Authority shall have and may exercise the following powers in furtherance of or in carrying out its clean energy powers and purposes:
(c) In addition to, and not in limitation of, any other power of the Authority set forth in this Section or any other provisions of the general statutes, the Authority shall have and may exercise the following powers in furtherance of or in carrying out its clean energy powers and purposes:
(2) To utilize funding sources, including, but not limited to:
(2) To utilize funding sources, including, but not 10400SB2306sam001 -42- LRB104 08151 HLH 24729 a limited to:
(A) funds repurposed from existing programs providing financing support for clean energy projects, clean water projects, drinking water projects, wastewater treatment projects, or climate resilience projects, provided any transfer of funds from such existing programs shall be subject to approval by the SB2306 Engrossed - 42 - LRB104 08151 HLH 18199 b General Assembly and shall be used for expenses of financing, grants, and loans;
(A) funds repurposed from existing programs providing financing support for clean energy projects, clean water projects, drinking water projects, wastewater treatment projects, or climate resilience projects, provided any transfer of funds from such existing programs shall be subject to approval by the General Assembly and shall be used for expenses of financing, grants, and loans;
(d) The Authority may finance working capital, refinance outstanding indebtedness of any person, and otherwise assist in the investment of equity from any source, public or private, in connection with clean energy projects or any other projects authorized by this Act.
(d) The Authority may finance working capital, refinance 10400SB2306sam001 -43- LRB104 08151 HLH 24729 a outstanding indebtedness of any person, and otherwise assist in the investment of equity from any source, public or private, in connection with clean energy projects or any other projects authorized by this Act.
SB2306 Engrossed - 43 - LRB104 08151 HLH 18199 b (f) The Authority shall make information regarding the rates, terms and conditions for all of its financing support transactions available to the public for inspection, including formal annual reviews by both a private auditor and the Comptroller, and providing details to the public on the Internet, provided public disclosure shall be restricted for patentable ideas, trade secrets, and proprietary or confidential commercial or financial information, disclosure of which may cause commercial harm to a nongovernmental recipient of such financing support and for other information exempt from public records disclosure pursuant to Section 1-210.
(f) The Authority shall make information regarding the rates, terms and conditions for all of its financing support transactions available to the public for inspection, including formal annual reviews by both a private auditor and the Comptroller, and providing details to the public on the Internet, provided public disclosure shall be restricted for patentable ideas, trade secrets, and proprietary or confidential commercial or financial information, disclosure of which may cause commercial harm to a nongovernmental recipient of such financing support and for other information exempt from public records disclosure pursuant to Section 1-210.
"Alternate bonds", "applicable law", "bond", "general obligation bonds", "limited bonds", "governmental unit", "revenue bonds", "enterprise revenues", and "revenue source" have the respective meanings set forth in Section 3 of the Local Government Debt Reform Act.
10400SB2306sam001 -44- LRB104 08151 HLH 24729 a "Alternate bonds", "applicable law", "bond", "general obligation bonds", "limited bonds", "governmental unit", "revenue bonds", "enterprise revenues", and "revenue source" have the respective meanings set forth in Section 3 of the Local Government Debt Reform Act.
(i) a project that uses renewable energy resources, as SB2306 Engrossed - 44 - LRB104 08151 HLH 18199 b defined in Section 1-10 of the Illinois Power Agency Act;
(i) a project that uses renewable energy resources, as defined in Section 1-10 of the Illinois Power Agency Act;
"Climate resilience project" includes, but is not limited to, projects that ensure access to clean water and drinking water, support wastewater treatment or resiliency of other essential infrastructure and other projects that reduce the potential impact of disasters or climate change.
"Climate resilience project" includes, but is not limited to, projects that ensure access to clean water and drinking water, support wastewater treatment or resiliency of other essential infrastructure and other projects that reduce the potential impact of disasters 10400SB2306sam001 -45- LRB104 08151 HLH 24729 a or climate change.
SB2306 Engrossed - 45 - LRB104 08151 HLH 18199 b "Energy efficiency project" means measures that reduce the amount of electricity, natural gas, or total Btu of electricity or natural gas required to achieve or meet a given end use, consistent with Section 1-10 of the Illinois Power Agency Act.
"Energy efficiency project" means measures that reduce the amount of electricity, natural gas, or total Btu of electricity or natural gas required to achieve or meet a given end use, consistent with Section 1-10 of the Illinois Power Agency Act.
(Source:
10400SB2306sam001 -46- LRB104 08151 HLH 24729 a (Source:
The authority to issue bonds by a governmental unit under this Act and applicable law for clean energy infrastructure projects and climate resilience projects is in addition to any other authority to SB2306 Engrossed - 46 - LRB104 08151 HLH 18199 b issue bonds by a governmental unit provided by law.
The authority to issue bonds by a governmental unit under this Act and applicable law for clean energy infrastructure projects and climate resilience projects is in addition to any other authority to issue bonds by a governmental unit provided by law.
This Act takes effect upon becoming law.
This Act takes effect upon becoming law.".