Illinois · 104th session
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,…
Added as Chief Co-Sponsor Sen. Dave Syverson (2025-01-29)