HB6030 96TH GENERAL ASSEMBLY

LRB096 19312 RCE 34703 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB6030

Introduced 2/10/2010, by Rep. Karen May - Harry Osterman - Monique D. Davis

SYNOPSIS AS INTRODUCED:

20 ILCS 605/605-524 new
30 ILCS 105/5.755 new

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Creates a green manufacturing revolving loan program. Authorizes the Department to make revolving loans, subject to appropriation, to manufacturers with 500 or fewer employees toward the cost of capital equipment that will reduce environmental impact and achieve cost savings. Limits the loans to $250,000 per manufacturer, and provides that the loans shall be at no interest and must be repaid within 5 years. Sets forth the purposes for which loans may be used. Requires the transfer $10,000,000 from the General Revenue Fund to the Green Manufacturing Revolving Loan Fund. Provides for the Department to adopt rules.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning finance.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois is amended by adding Section 605-524 as follows:

(20 ILCS 605/605-524 new)

Sec. 605-524. Green manufacturing revolving loan program.

(a) The Department shall administer the Green Manufacturing Revolving Loan Fund, a special fund in the State treasury, to make revolving loans, subject to appropriation, to manufacturers with 500 or fewer employees toward the cost of capital equipment that will reduce environmental impact and achieve cost savings.

(b) The Department shall loan the funds only for projects that meet guidelines established by the Department by rule. In establishing those guidelines, the Department shall consult recognized standards and guidelines for green manufacturing.

(c) The funds may be used for the following purposes:

(1) improving air quality and reducing emissions and pollution;

(2) reducing solid waste disposal in landfills and disposal costs;

(3) reducing water use, effluent disposal, and associated costs; and

(4) reusing, recovering, and recycling waste materials or removing toxic materials from products.

(d) Loans made under this Section must not exceed $250,000 per manufacturer, shall be at no interest, and must be repaid within 5 years. Repayment amounts shall be deposited into the Green Manufacturing Revolving Loan Fund.

(e) The Comptroller shall order transferred and the Treasurer shall transfer $10,000,000 from the General Revenue Fund to the Green Manufacturing Revolving Loan Fund.

(f) The Department shall adopt any rules necessary to implement and operate this program.

Section 10. The State Finance Act is amended by adding Section 5.755 as follows:

(30 ILCS 105/5.755 new)

Sec. 5.755. The Green Manufacturing Revolving Loan Fund.