IL SB3453

Creates the Energy Efficiency Portfolio Standards Fund as a special fund in the State treasury to receive moneys from electric and natural gas utilities under sections 8-103 and 8-104 of the Public Utilities Act.

Requires the Director of Commerce and Economic Opportunity to certify the balance in the DCEO Energy Projects Fund by July 31, 2012, and authorizes transfer of those funds (minus federal moneys and obligated amounts) to the new Energy Efficiency Portfolio Standards Fund.

Authorizes the Department of Commerce and Economic Opportunity to adopt rules and prescribe procedures to ensure compliance by applicants in carrying out rebate agreements for energy efficiency measures implemented by the Department.

Directs that costs collected by utilities for measures implemented by the Department shall be deposited into the Energy Efficiency Portfolio Standards Fund and used solely for implementing energy efficiency and demand-response measures.

Establishes that the Fund operates subject to appropriation and is governed by the purposes authorized in sections 8-103 and 8-104 of the Public Utilities Act regarding energy efficiency standards for electric and natural gas utilities.