Bill Text: IL HB5195 | 2011-2012 | 97th General Assembly | Chaptered
Bill Title: Amends the Illinois Finance Authority Act. Includes in the definition of "energy conservation project" an Energy Efficiency Project in connection with any school district or community college district project. Provides that the Illinois Finance Authority may (rather than shall) assist the Department of Commerce and Economic Opportunity to establish and implement a program to assist units of local government to identify and arrange financing for energy conservation projects. Effective immediately.
Spectrum: Slight Partisan Bill (Democrat 5-2)
Status: (Passed) 2012-07-06 - Public Act . . . . . . . . . 97-0760 [HB5195 Detail]
Download: Illinois-2011-HB5195-Chaptered.html
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Public Act 097-0760 | ||||
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AN ACT concerning State government.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Illinois Finance Authority Act is amended by | ||||
changing Sections 820-10 and 820-35 as follows:
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(20 ILCS 3501/820-10)
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Sec. 820-10. Definitions. The following words or terms, | ||||
whenever used or
referred to in
this Article, shall have the | ||||
following
meanings ascribed to them, except where the context | ||||
clearly requires otherwise:
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(a) "Department" means the Illinois Department of Commerce | ||||
and Economic
Opportunity.
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(b) "Unit of local government" means any unit of local | ||||
government, as
defined
in Article VII, Section 1 of the 1970 | ||||
State Constitution and any local public
entity as that term is | ||||
defined by the Local Governmental and Governmental
Employees | ||||
Tort Immunity Act and also includes the State and any
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instrumentality,
office, officer, department, division, | ||||
bureau, commission, college or
university
thereof.
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(c) "Energy conservation project" means any improvement, | ||||
repair, alteration
or
betterment of any building or facility or | ||||
any equipment, including but not limited to an Energy | ||||
Efficiency Project, as defined in item (iii) of subsection (b) |
of Section 825-65, in connection with any school district or | ||
community college district project, and any fixture or | ||
furnishing
including its energy using mechanical devices to be | ||
added to or used in any
building or facility that the Director | ||
of the Department has certified to the
Authority will be a | ||
cost-effective energy-related project that will lower
energy
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or utility costs in connection with the operation or | ||
maintenance of such
building or facility, and will achieve | ||
energy cost savings sufficient to cover
bond debt service and | ||
other project costs within 10 years from the date of
project | ||
installation.
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(Source: P.A. 93-205, eff. 1-1-04.)
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(20 ILCS 3501/820-35)
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Sec. 820-35.
The Authority may shall assist the Department | ||
to establish and
implement a program to assist units of local | ||
government to identify and arrange
financing for energy | ||
conservation projects in buildings and facilities owned or
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leased by units of local government.
Such bonds shall not | ||
constitute an indebtedness or obligation of the State of
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Illinois and it shall be plainly stated on the face of each | ||
bond that it does
not constitute such an indebtedness or | ||
obligation but is payable solely from
the
revenues, income or | ||
other assets of the Authority pledged therefor.
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(Source: P.A. 93-205, eff. 1-1-04.)
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Section 99. Effective date. This Act takes effect upon |
becoming law.
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