(20 ILCS 1105/9)
(from Ch. 96 1/2, par. 7409)
The Illinois Industrial Coal Utilization Program.
Department shall administer the Illinois
Industrial Coal Utilization Program, referred to
as the "program". The purpose of the program is to increase
the environmentally sound use of Illinois coal by qualified applicants.
To that end, the Department shall
a revolving loan program to partially finance new coal burning facilities
sited in Illinois or conversion of existing boilers located in Illinois to
coal use, referred to as "industrial coal projects".
The Department, with the advice and recommendation of the
Illinois Coal Development Board, shall make below market rate
loans available to fund a portion of each qualifying industrial
coal project. The applicant must demonstrate that it
is able to obtain additional financing
from other sources to fund the remainder of the project
and that the project would not occur without the
Department's participation. The Department
may, in part, rely on the financial evaluation completed by the
provider of the additional funding, as well as its own evaluation.
The Department shall have the following powers:
(1) To accept grants, loans, or appropriations
from the federal government or the State, or any agency or
instrumentality of either, to be used for any purposes of the
program, including operating and administrative expenses
associated with the program and the making of direct loans of those funds
with respect to projects. The Department may enter into any agreement with
the federal government or the State, or any agency or instrumentality
of either, in connection with those grants,
loans, or appropriations.
(2) To make loans from appropriations from the Build Illinois Bond Fund
and to accept guarantees from individuals, partnerships, joint ventures,
corporations, and governmental agencies. Any loan or series
of loans shall be limited to an amount not to exceed the lesser of
$4,000,000 or 60% of the total project cost.
(3) To establish interest rates, terms of repayment, and other terms
and conditions regarding loans made under this Act as the Department
shall determine necessary or appropriate to protect the public interest and
carry out the purposes of this Act.
(4) To receive, evaluate, and establish time schedules for the
determination of, and determine applications for financial aid for
the development, construction, acquisition, or improvement of, an industrial
coal project from any qualifying applicant and negotiate
terms and conditions on which the coal project may be developed,
constructed, improved, owned, or used by or leased to the applicant
or its successor in interest. The Department shall prescribe the form of
application. The form shall contain, without being limited
to, the following:
(i) a general description of the industrial coal
project and of the developer, user, or tenant for which the industrial project is to be established;
(ii) plans, equipment lists, and other documents that
may be required to show the type, structure, and general character of the project;
(iii) a general description of the expected use of
Illinois coal resulting from the project;
(iv) cost estimates of developing, constructing,
acquiring, or improving the industrial project;
(v) a general description of the financing plan for
the industrial coal project; and
(vi) a general description and statement of value of
any property and its improvements provided or to be provided for the project by other sources.
Nothing in this Section shall be deemed to preclude the Department,
before the filing of any formal application, from conducting preliminary
discussions and investigations with respect to the subject matter of any
(Source: P.A. 94-91, eff. 7-1-05.)