HB6419 Summary: School District Intergovernmental Cooperation Renewable Energy Act

• Authorizes 2 or more Illinois school districts to form a joint action agency through intergovernmental agreement to acquire, construct, and operate renewable energy projects (wind and solar facilities).

• Grants agencies authority to issue bonds up to 40 years maturity, enter into contracts up to 50 years, and establish rates/charges for energy products and services without state approval or taxation on income/receipts.

• Allows member school districts to contract with agencies for power purchases and provide funding through appropriations from operation and maintenance funds or issuance of school district bonds.

• Exempts agency property from property taxes and prohibits agencies from selling electricity directly to end-use customers unless compliant with Public Utilities Act exemptions.

• Establishes agencies as units of local government with board governance structure, filing requirements with Secretary of State, and perpetual existence unless otherwise specified in intergovernmental agreement.