SB1906 Summary

• Amends the Illinois Finance Authority Act to expand financing authority for clean coal, coal, and renewable energy projects, increasing the aggregate bond limit from $2.7 billion to $3 billion.

• Establishes separate financing caps: up to $2 billion for Clean Coal and Coal Projects; up to $2 billion for Renewable Energy Projects; up to $500 million for carbon dioxide pipelines and carbon abatement technology; and up to $300 million for transmission lines.

• Adds renewable energy resources as eligible projects including solar, wind, geothermal, biomass, and energy storage technology using battery or electrochemical systems.

• Requires the Illinois Finance Authority to prioritize project applications considering state policy on environmentally preferable technology and energy independence when requests exceed available bond authorization.

• Increases state guarantee limits for renewable energy projects from $75 million to $225 million under Sections 830-35, 830-45, and 830-50.