Illinois Administrative Code
Title 32 - ENERGY
Part 100 - ADMINISTRATION OF THE ILLINOIS COAL AND ENERGY DEVELOPMENT BOND ACT
Section 100.50 - State Funding
Current through Register Vol. 47, No. 52, December 29, 2023
a) The Department allocates State Funding pursuant to statutory language of the Act, which provides that:
"The State of Illinois is authorized to issue, sell and provide for the retirement of general obligation bonds of the State of Illinois in the amount of $70,000,000, hereinafter called "Bonds," $65,000,000 of which shall be for the specific purposes of acquisition, development, construction, reconstruction, improvement, financing, architectural and technical planning and installation of capital facilities consisting of buildings, structures, durable equipment, and land for the purpose of capital development of coal resources, and $5,000,000 of which shall be for research and development of other forms of energy."
b) The Department has the power to recommend an amount of State Funding for a proposed Project to the Commission which amount and which proposed Project must be approved or rejected by the Commission within 45 days of the receipt of the proposal by the Commission.
c) The Department shall exercise its power to recommend an amount of State Funding to the Commission for its approval after