summary
Introduced
02/03/2026
02/03/2026
In Committee
02/17/2026
02/17/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Finance Authority Act. In provisions concerning bond authorization and financing limits for clean coal projects, coal projects, energy efficiency projects, PACE projects, and renewable energy projects, provides that the limitations apply to outstanding bonds (instead of issued bonds). Provides that those limitations do not include bonds issued to refund the bonds of the Illinois Finance Authority or bonds of predecessor authorities. Provides that no member, officer, or employee of the Illinois Finance Authority may be in any manner financially interested in any contract or agreement upon which that person may be called to act or vote. Requires those members, officers, and employees to abstain from deliberating or voting on the award or material modification of any contract or agreement in which that person holds a financial interest. Provides that no member, officer, or employee of the Illinois Finance Authority may take or receive, or offer to take or receive, any money or other thing of value as a gift, bribe, or means of influencing that person's vote or action in that person's official capacity. Amends the Public Officer Prohibited Activities Act. Provides that certain provisions do not apply to the members and officers of the Illinois Finance Authority. Makes other changes.
AI Summary
This bill modifies the Illinois Finance Authority Act to change how bond financing limits are calculated for various energy projects, including clean coal, coal, energy efficiency, PACE (Property Assessed Clean Energy), and renewable energy projects. Instead of limiting the total amount of bonds *issued*, the bill now limits the total amount of bonds *outstanding* at any given time, meaning bonds that have been issued and not yet repaid. It also clarifies that bonds issued to refinance existing Illinois Finance Authority or predecessor authority bonds do not count towards these limits. Furthermore, the bill strengthens ethics rules for Illinois Finance Authority members, officers, and employees by prohibiting them from having any financial interest in contracts they may vote on, requiring them to abstain from voting or deliberating on such contracts, and forbidding them from accepting gifts or bribes to influence their official actions. Finally, it amends the Public Officer Prohibited Activities Act to exempt members and officers of the Illinois Finance Authority from certain restrictions related to financial interests in contracts, while also outlining specific conditions under which such interests might be permissible for other public officers.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
To Ethics (on 02/18/2026)
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