IL SB2634

Establishes a Fleet Electrification Incentive Program administered by the Environmental Protection Agency to provide grants to fleet owners and operators for purchasing eligible electric vehicles (Class 2b through Class 8 trucks and electric school buses).

Sets base grant amounts ranging from $7,500 for Class 2b vehicles to $120,000 for Class 8 vehicles, with an additional 15% increase for vehicles located in equity investment eligible communities and 65% increase for school buses serving public school districts.

Requires grant recipients to register vehicles in Illinois, be domiciled in the state, operate vehicles within Illinois at least 80% of the time, and maintain ownership for a minimum 5-year period.

Limits total governmental incentives (including grants, tax credits, and vouchers) to a maximum of 80% of the vehicle purchase price and requires 20% of appropriated funds to be set aside specifically for electric school bus purchases.

Prioritizes grant applications based on the fleet's geographic location and pollution impact on equity investment eligible communities, with additional priority for applicants who have negotiated collective bargaining agreements.