SB1840 Summary

• Creates the Energy and Environmental Security Act and establishes the Illinois Qualified Clean Coal Technology Grant Program administered by the Department of Commerce and Economic Opportunity.

• Provides grants up to $500 million per recipient for capital projects, operating activities, and contractual expenses to enable coal-fueled electric generating facilities to use high volatile bituminous coal with emissions below 210 pounds of carbon dioxide per million BTU.

• Eligible grant uses include emissions control installation, efficiency improvements, equipment modifications, transmission system upgrades, and costs to terminate existing coal supply contracts.

• Grants may be distributed as one-time payments or over up to 5 years, with contracts requiring performance objectives, progress reporting, audit provisions, and repayment requirements if performance targets are not met.

• Creates the Clean Coal Technology Development and Utilization Fund as a special state treasury fund to provide the grant money, with the act taking effect immediately upon passage.