HB5195 EnrolledLRB097 19626 PJG 64880 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 by
5changing Sections 820-10 and 820-35 as follows:
 
6    (20 ILCS 3501/820-10)
7    Sec. 820-10. Definitions. The following words or terms,
8whenever used or referred to in this Article, shall have the
9following meanings ascribed to them, except where the context
10clearly requires otherwise:
11    (a) "Department" means the Illinois Department of Commerce
12and Economic Opportunity.
13    (b) "Unit of local government" means any unit of local
14government, as defined in Article VII, Section 1 of the 1970
15State Constitution and any local public entity as that term is
16defined by the Local Governmental and Governmental Employees
17Tort Immunity Act and also includes the State and any
18instrumentality, office, officer, department, division,
19bureau, commission, college or university thereof.
20    (c) "Energy conservation project" means any improvement,
21repair, alteration or betterment of any building or facility or
22any equipment, including but not limited to an Energy
23Efficiency Project, as defined in item (iii) of subsection (b)

 

 

HB5195 Enrolled- 2 -LRB097 19626 PJG 64880 b

1of Section 825-65, in connection with any school district or
2community college district project, and any fixture or
3furnishing including its energy using mechanical devices to be
4added to or used in any building or facility that the Director
5of the Department has certified to the Authority will be a
6cost-effective energy-related project that will lower energy
7or utility costs in connection with the operation or
8maintenance of such building or facility, and will achieve
9energy cost savings sufficient to cover bond debt service and
10other project costs within 10 years from the date of project
11installation.
12(Source: P.A. 93-205, eff. 1-1-04.)
 
13    (20 ILCS 3501/820-35)
14    Sec. 820-35. The Authority may shall assist the Department
15to establish and implement a program to assist units of local
16government to identify and arrange financing for energy
17conservation projects in buildings and facilities owned or
18leased by units of local government. Such bonds shall not
19constitute an indebtedness or obligation of the State of
20Illinois and it shall be plainly stated on the face of each
21bond that it does not constitute such an indebtedness or
22obligation but is payable solely from the revenues, income or
23other assets of the Authority pledged therefor.
24(Source: P.A. 93-205, eff. 1-1-04.)
 
25    Section 99. Effective date. This Act takes effect upon

 

 

HB5195 Enrolled- 3 -LRB097 19626 PJG 64880 b

1becoming law.