summary
Introduced
01/28/2025
01/28/2025
In Committee
01/28/2025
01/28/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Power Agency Act. Prohibits a company that provides solar project installation services or solar facility installation services from installing a solar project or solar facility in Illinois without posting and maintaining, with the Illinois Power Agency, a surety bond in the amount of $2,000,000 or such higher amount as is annually set by the Agency by rule. Requires the Agency to adopt rules to establish requirements for the mandated surety bonds and procedures for posting and maintaining those bonds. Requires the rules adopted by the Agency to prescribe the type and amount of the surety bond required and the conditions under which the Agency is entitled to collect moneys from such bonds. Authorizes the rules adopted by the Agency to contain any other provisions the Agency deems necessary to administer the provisions of the amendatory Act. Directs the Agency to annually adjust the amount of the required surety bond beginning 2 years after the effective date of the amendatory Act. Creates the Solar Installation Fund. Provides that any moneys forfeited to the State from the required surety bonds shall be deposited into the Solar Installation Fund and shall, upon approval by the Governor and the Director of the Agency, be used by and under the direction of the Agency for the purpose of ensuring that certain rebate and warranty obligations of such a company are met. Authorizes the Agency to enter into contracts and agreements it deems necessary to carry out the provisions of the amendatory Act. Provides that neither the State, nor the Director of the Agency, nor any State employee shall be liable for any damages or injuries arising out of or resulting from any action taken under the provisions of the amendatory Act. Allows the Agency to approve or disapprove any surety bond. Allows a person whose surety bond is disapproved to contest the disapproval. Makes a conforming change in the State Finance Act.
AI Summary
This bill amends the Illinois Power Agency Act to require solar project and facility installation companies to post and maintain a $2,000,000 surety bond with the Illinois Power Agency (IPA) before operating in the state. The bond is designed to ensure that companies can fulfill their warranty obligations and rebate payments to customers, even if the company closes, files for bankruptcy, or reorganizes. The IPA is mandated to adopt rules within six months that establish the bond requirements, including the specific type and conditions for collecting funds. Starting two years after the bill's effective date, the agency will annually adjust the bond amount. A new Solar Installation Fund will be created to receive any forfeited bond moneys, which can be used to meet the original purposes of the bond, subject to approval by the Governor and Agency Director. The bill also provides that state officials and employees will not be liable for damages arising from actions taken under this legislation, and gives the Agency the authority to approve or disapprove surety bonds, with a provision allowing companies to contest bond disapprovals through administrative review.
Sponsors (3)
Last Action
Added as Chief Co-Sponsor Sen. Dave Syverson (on 01/29/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1277&GAID=18&DocTypeID=SB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/SB/10400SB1277.htm |
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