§ 20-5

Illinois § 20-5

• Jurisdiction: Illinois
• Topic: BUSINESS AND EMPLOYMENT
• Ch. 805: BUSINESS ORGANIZATIONS
• Act 805 ILCS 155/: Clean Energy Jobs and Justice Fund Act.

Text

(Section scheduled to be repealed on September 15, 2045) Sec. 20-5. Purpose. The purpose of this Act is to promote the health, welfare, and prosperity of all the residents of this State by ensuring access to financial products that allow Illinois residents and businesses to invest in clean energy. Furthermore, the Clean Energy Jobs and Justice Fund, is designed to fill the following purposes: (1) ensure that the benefits of the clean energy economy are equitably distributed; (2) make clean energy accessible to all through the provision of innovative financing opportunities and grants for Minority Business Enterprises (MBE) and other contractors of color, and for low-income, environmental justice, and BIPOC communities and the businesses that serve these communities; (3) prioritize the provision of public and private capital for clean energy investment to MBEs and other contractors of color, and to businesses serving low-income, environmental justice, and BIPOC communities; (4) accelerate the flow of private capital into clean energy markets; (5) assist low-income, environmental justice, and BIPOC community utility customers in paying for solar and energy efficiency upgrades through energy cost savings; (6) increase access to no-cost and low-cost loans for MBE and other contractors of color; (7) develop financing products designed to compensate for historical and structural barriers preventing low-income, environmental justice, and BIPOC communities from accessing traditional financing; (8) leverage private investment in clean energy projects and in projects developed by MBEs and other contractors of color; and (9) pursue financial self-sustainability through innovative financing products.

Legislative History

(Source: P.A. 102-662, eff. 9-15-21.)