Illinois General Assembly - Bill Status for SB2306
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 Bill Status of SB2306  104th General Assembly

Short Description:  IFA-CLIMATE RESILIENCE PROJECT

Senate Sponsors
Sen. Rachel Ventura - Sara Feigenholtz - Graciela Guzmán, Adriane Johnson, Laura M. Murphy, Mike Porfirio, Linda Holmes, Jil Tracy and Ram Villivalam

House Sponsors
(Rep. Nabeela Syed)

Hearings
Revenue & Finance Committee Hearing May 1 2025 8:00AM Stratton Building Room D-1 Springfield, IL


Last Action
DateChamber Action
  4/17/2025HouseAssigned to Revenue & Finance Committee

Statutes Amended In Order of Appearance
20 ILCS 3501/850-10
30 ILCS 445/5
30 ILCS 445/10
30 ILCS 445/35


Synopsis As Introduced
Amends the Illinois Finance Authority Act. In provisions concerning powers and duties of the Illinois Finance Authority in furtherance of its clean energy powers and purposes, provides that the Authority shall have the power to utilize certain funding sources for clean water, drinking water, and wastewater treatment or climate resilience projects. Amends the Climate Bank Loan Financing Act. Defines "climate resilience project" to mean a project to reduce hazards or risks to people and property from future disasters or climate-related conditions. Provides that "climate resilience project" includes, but is not limited to, projects that ensure access to clean water and drinking water, support wastewater treatment or resiliency of other essential infrastructure and other projects that reduce the potential impact of disasters or climate change. Adds climate resilience projects to provisions concerning clean energy infrastructure projects and authority to issue bonds. Effective immediately.

Senate Floor Amendment No. 1
Adds reference to:
20 ILCS 3501/801-10
20 ILCS 3501/801-40

Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Adds additional provisions concerning climate resilience projects. Further amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority may finance or refinance any accounts receivable, working capital, liability, or insurance or noncapital cost or operating expense for any unit of government, participating health institution, private institution of higher education, academic institution, cultural institution, or other person authorized to borrow funds from the Authority pursuant to the Act. Provides that those agreements are included in the definitions of "lease agreement" and "loan agreement" under the Act. Effective immediately.

Actions 
DateChamber Action
  2/7/2025SenateFiled with Secretary by Sen. Rachel Ventura
  2/7/2025SenateFirst Reading
  2/7/2025SenateReferred to Assignments
  3/4/2025SenateAssigned to Executive
  3/19/2025SenateDo Pass Executive; 011-000-000
  3/19/2025SenatePlaced on Calendar Order of 2nd Reading March 20, 2025
  3/20/2025SenateSecond Reading
  3/20/2025SenatePlaced on Calendar Order of 3rd Reading April 1, 2025
  3/20/2025SenateAdded as Co-Sponsor Sen. Adriane Johnson
  3/20/2025SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  3/20/2025SenateAdded as Co-Sponsor Sen. Mike Porfirio
  3/20/2025SenateAdded as Chief Co-Sponsor Sen. Sara Feigenholtz
  3/21/2025SenateAdded as Chief Co-Sponsor Sen. Graciela Guzmán
  4/1/2025SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Rachel Ventura
  4/1/2025SenateSenate Floor Amendment No. 1 Referred to Assignments
  4/2/2025SenateSenate Floor Amendment No. 1 Assignments Refers to Executive
  4/3/2025SenateAdded as Co-Sponsor Sen. Linda Holmes
  4/3/2025SenateSenate Floor Amendment No. 1 Recommend Do Adopt Executive; 012-000-000
  4/4/2025SenateAdded as Co-Sponsor Sen. Jil Tracy
  4/4/2025SenateAdded as Co-Sponsor Sen. Ram Villivalam
  4/9/2025SenateRecalled to Second Reading
  4/9/2025SenateSenate Floor Amendment No. 1 Adopted; Ventura
  4/9/2025SenatePlaced on Calendar Order of 3rd Reading
  4/9/2025SenateThird Reading - Passed; 051-004-000
  4/9/2025HouseArrived in House
  4/9/2025HouseChief House Sponsor Rep. Nabeela Syed
  4/9/2025HouseFirst Reading
  4/9/2025HouseReferred to Rules Committee
  4/17/2025HouseAssigned to Revenue & Finance Committee

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