Illinois Compiled Statutes 805 ILCS 155/20-30 – Primary responsibilities in early program development
Current as of: 2024 | Check for updates
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(a) Consistent with the goals of this Act, the Fund has the authority to pursue a broad range of financial products and services. In early development of products and services offered, the Fund should consider the following programs as its initial set of investment initiatives:
(1) a solar lease, power-purchase agreement, or
(1) a solar lease, power-purchase agreement, or
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loan-to-own product specifically designed to complement and grow the Illinois Solar for All Program;
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(2) direct capitalization of contractors of color
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participating in or graduating from the workforce and business development programs established in the Energy Transition Act;
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(3) providing direct capitalization of
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community-based projects in environmental justice communities through upfront grants. Project applications should provide a community benefit, align with environmental justice communities, be in support of this Act’s contractor and workforce development goals, and support upfront planning, development, and start up costs that often are not covered prior to applying for program incentives and other loan products;
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(4) providing loan loss reserve products to secure
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stable and low-interest financing for individual projects and portfolios consistent with the goals of this Act that would be otherwise unable to receive financing; and
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(5) offering financing and administrative services
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for municipal utilities and rural electric cooperatives to create their own version of the on-bill Equitable Energy Upgrade Program such as the Pay As You Save program developed by the Energy Efficiency Institute.
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Terms Used In Illinois Compiled Statutes 805 ILCS 155/20-30
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC