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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
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(20 ILCS 3501/850-20) (This Section may contain text from a Public Act with a delayed effective date) Sec. 850-20. Thermal Energy Network Revolving Loan and Financial Assistance Program. (a) As used in this Section: "Program" means the Thermal Energy Network Revolving Loan and Financial Assistance Program established under this Section. "Thermal energy network" means all real estate, fixtures, and personal property operated, owned, used, or to be used for in connection with or to facilitate a community-scale distribution infrastructure project that transfers heat into and out of buildings using non-combusting thermal energy, sourced from zero-emission technologies, including geothermal energy, for the purpose of reducing emissions. "Thermal energy network" includes, but is not limited to, real estate, fixtures, and personal property that is operated, owned, or used by multiple parties and community geothermal systems. (b) In its role as the Climate Bank for the State, the Authority may, subject to available funding, establish and administer a Thermal Energy Network Revolving Loan and Financial Assistance Program. The Program shall provide access to capital for thermal energy network projects that take into consideration the risks involved in the development of shared heating and cooling systems and the required coordination among multiple customers, as well as the benefits of enabling low-cost decarbonization of residential, commercial, and industrial buildings and processes. The Program may provide loans, grants, or other financial assistance for thermal energy network projects. (c) The Authority may establish internal accounts necessary to administer the Program, identify sources of public and private funding and financial capital, and develop any requirements or agreements necessary to successfully execute the Program. (d) The Authority shall coordinate and enter into any necessary agreements with the Illinois Commerce Commission to (i) develop and offer funding and financing to thermal energy network pilot projects approved by the Commission under subsection (a) of Section 8-513 of the Public Utilities Act, (ii) receive funds as necessary and as approved by the Commission under subsection (b) of Section 8-513 of the Public Utilities Act, and (iii) establish any requirements necessary to ensure compliance with the objectives of any federal funding sources secured to support the Program. (e) All repayments of loans or other financial assistance made under the Program shall be used or leveraged to provide additional capital to thermal energy network pilot projects that support the clean energy goals of the State, in coordination with any rules established by the Illinois Commerce Commission. (f) The Authority may adopt any resolutions, plans, or rules and fix, determine, charge, or collect any fees, charges, costs, and expenses necessary to administer the Program under this Section.
(Source: P.A. 104-458, eff. 6-1-26.) |