103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB5379

 

Introduced 2/9/2024, by Rep. Lawrence "Larry" Walsh, Jr.

 

SYNOPSIS AS INTRODUCED:
 
20 ILCS 3501/850-10
20 ILCS 3501/850-15

    Amends the Illinois Finance Authority Act. Provides that each Climate Bank-funded project must include a fully executed project labor agreement for any construction project, pay the prevailing wage to construction workers in accordance with the Prevailing Wage Act and the federal Davis-Bacon Act, and include participation benchmarks during construction for apprentices from a U.S. Department of Labor-registered apprenticeship program. In its role as the Climate Bank for the State, provides that the Authority shall consider creating clean energy jobs, promoting high-road labor standards in renewable energy and energy efficiency, and developing a pipeline for highly skilled workers to enter the clean energy job market.


LRB103 37628 MXP 67755 b

 

 

A BILL FOR

 

HB5379LRB103 37628 MXP 67755 b

1    AN ACT concerning State government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Finance Authority Act is amended
5by changing Sections 850-10 and 850-15 as follows:
 
6    (20 ILCS 3501/850-10)
7    Sec. 850-10. Powers and duties.
8    (a) The Authority shall have the powers enumerated in this
9Act to assist in the development and implementation of clean
10energy in the State. The powers enumerated in this Article
11shall be in addition to all other powers of the Authority
12conferred in this Act, including those related to clean energy
13and the provision of clean water, drinking water, and
14wastewater treatment. The powers of the Authority to issue
15bonds, notes, and other obligations to finance loans
16administered by the Illinois Environmental Protection Agency
17under the Public Water Supply Loan Program or the Water
18Pollution Control Loan Program or other similar programs shall
19not be limited or otherwise affected by this amendatory Act of
20the 102nd General Assembly.
21    (b) In its role as the Climate Bank of the State, the
22Authority shall have the power to: (i) administer programs and
23funds appropriated by the General Assembly for clean energy

 

 

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1projects in eligible communities and environmental justice
2communities or owned by eligible persons, (ii) support
3investment in the clean energy and clean water, drinking
4water, and wastewater treatment, (iii) support and otherwise
5promote investment in clean energy projects to foster the
6growth, development, and commercialization of clean energy
7projects and related enterprises, and (iv) stimulate demand
8for clean energy and the development of clean energy projects.
9    (c) In addition to, and not in limitation of, any other
10power of the Authority set forth in this Section or any other
11provisions of the general statutes, the Authority shall have
12and may exercise the following powers in furtherance of or in
13carrying out its clean energy powers and purposes:
14        (1) To enter into joint ventures and invest in and
15    participate with any person, including, without
16    limitation, government entities and private corporations,
17    engaged primarily in the development of clean energy
18    projects, provided that members of the Authority or
19    officers may serve as directors, members, or officers of
20    any such business entity, and such service shall be deemed
21    to be in the discharge of the duties or within the scope of
22    the employment of any such member or officer, or Authority
23    or officers, as the case may be, so long as such member or
24    officer does not receive any compensation or direct or
25    indirect financial benefit as a result of serving in such
26    role.

 

 

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1        (2) To utilize funding sources, including, but not
2    limited to:
3            (A) funds repurposed from existing programs
4        providing financing support for clean energy projects,
5        provided any transfer of funds from such existing
6        programs shall be subject to approval by the General
7        Assembly and shall be used for expenses of financing,
8        grants, and loans;
9            (B) any federal funds that can be used for clean
10        energy purposes;
11            (C) charitable gifts, grants, and contributions as
12        well as loans from individuals, corporations,
13        university endowment funds, and philanthropic
14        foundations for clean energy projects or for the
15        provision of clean water, drinking water, and
16        wastewater treatment; and
17            (D) earnings and interest derived from financing
18        support activities for clean energy projects financed
19        by the Authority.
20        (3) To enter into contracts with private sources to
21    raise capital.
22    (d) The Authority may finance working capital, refinance
23outstanding indebtedness of any person, and otherwise assist
24in the investment of equity from any source, public or
25private, in connection with clean energy projects or any other
26projects authorized by this Act.

 

 

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1    (e) The Authority may assess reasonable fees on its
2financing activities to cover its reasonable costs and
3expenses, as determined by the Authority.
4    (f) The Authority shall make information regarding the
5rates, terms and conditions for all of its financing support
6transactions available to the public for inspection, including
7formal annual reviews by both a private auditor and the
8Comptroller, and providing details to the public on the
9Internet, provided public disclosure shall be restricted for
10patentable ideas, trade secrets, and proprietary or
11confidential commercial or financial information, disclosure
12of which may cause commercial harm to a nongovernmental
13recipient of such financing support and for other information
14exempt from public records disclosure pursuant to Section
151-210.
16    (g) Each Climate Bank-funded project must include a fully
17executed project labor agreement for any construction project,
18pay the prevailing wage to any construction workers in
19accordance with the Prevailing Wage Act and the federal
20Davis-Bacon Act, and include participation benchmarks during
21any construction for apprentices from a U.S. Department of
22Labor-registered apprenticeship program.
23(Source: P.A. 102-662, eff. 9-15-21.)
 
24    (20 ILCS 3501/850-15)
25    Sec. 850-15. Purposes; Climate Bank. In its role as the

 

 

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1Climate Bank for the State, the Authority shall consider the
2following purposes:
3        (1) the distribution of the benefits of clean energy
4    in an equitable manner, including by evaluating benefits
5    to eligible communities and equity investment eligible
6    persons;
7        (2) making clean energy accessible to all, especially
8    eligible persons, through financing opportunities and
9    grants for minority-owned businesses, as defined in the
10    Business Enterprise for Minorities, Women, and Persons
11    with Disabilities Act, and for low-income communities,
12    eligible communities, environmental justice communities,
13    and the businesses that serve these communities; and
14        (3) accelerating the investment of private capital
15    into clean energy projects in a manner reflective of the
16    geographic, racial, ethnic, gender, and income-level
17    diversity of the State; and .
18        (4) creating clean energy jobs, promoting high-road
19    labor standards in renewable energy and energy efficiency,
20    and developing a pipeline for highly skilled workers to
21    enter the clean energy job market.
22(Source: P.A. 102-662, eff. 9-15-21.)