IL HB5440

Authorizes the Illinois Finance Authority to issue revenue bonds for energy storage projects seeking state-level credits or utility cost recovery, with bonds structured as limited obligations payable solely from project revenues rather than state funds.

Requires energy storage projects to secure long-term debt financing through Illinois Finance Authority bonds as a condition for eligibility in the state's energy storage credit procurement program.

Mandates the Illinois Commerce Commission conduct an annual Energy Affordability and Rate Impact Study examining cumulative impacts of energy policies on ratepayers.

Requires General Assembly approval via joint resolution before any adjustments to statutory rate caps or cost-control benchmarks can take effect, and before procurement plans can exceed cost-control caps set in the Public Utilities Act.

Repeals provisions concerning greenhouse gases in the Environmental Protection Act and establishes legislative findings citing a Resource Adequacy Study identifying shortfalls in reliable electric generation capacity in Illinois.