HB3400 Summary

• Amends the Illinois Procurement Code Section 25-45 to include renewable energy resources contracts and leases alongside existing energy savings and energy conservation program contracts.

• Defines "renewable energy resources" by reference to Section 1-10 of the Illinois Power Agency Act.

• Allows renewable energy resources contracts and leases to be entered into for periods up to 15 years, inclusive of any proposed renewals, at the state's discretion.

• State purchasing officers may enter into these renewable energy resources contracts or leases that provide for utility cost savings and may include alternative financing or lease-to-purchase options.

• Takes effect immediately upon becoming law.