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Clean Energy Jobs and Justice Fund Act.

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(805 ILCS 155/Art. 5 heading)

Article 5. Energy Transition(The Energy Transition Act is compiled at 20 ILCS 730/)

(805 ILCS 155/Art. 10 heading)

Article 10. Energy Community Reinvestment Act(The Energy Community Reinvestment Act is compiled at 20 ILCS 735/)

(805 ILCS 155/Art. 15 heading)

Article 15. Community Energy, Climate, and Jobs Planning Act(The Community Energy, Climate, and Jobs Planning Act is compiled at 50 ILCS 65/)

(805 ILCS 155/Art. 20 heading)

Article 20. Illinois Clean Energy Jobs and Justice Fund Act

(805 ILCS 155/20-1)

(Section scheduled to be repealed on September 15, 2045)

Sec. 20-1. Short title. This Article may be cited as the Clean Energy Jobs and Justice Fund Act. References in this Article to "this Act" mean this Article.

(Source: P.A. 102-662, eff. 9-15-21.)

(805 ILCS 155/20-5)

(Section scheduled to be repealed on September 15, 2045)

Sec. 20-5. Purpose. The purpose of this Act is to promote the health, welfare, and prosperity of all the residents of this State by ensuring access to financial products that allow Illinois residents and businesses to invest in clean energy. Furthermore, the Clean Energy Jobs and Justice Fund, is designed to fill the following purposes:

(1) ensure that the benefits of the clean energy economy are equitably distributed;
(2) make clean energy accessible to all through the provision of innovative financing opportunities and grants for Minority Business Enterprises (MBE) and other contractors of color, and for low-income, environmental justice, and BIPOC communities and the businesses that serve these communities;
(3) prioritize the provision of public and private capital for clean energy investment to MBEs and other contractors of color, and to businesses serving low-income, environmental justice, and BIPOC communities;
(4) accelerate the flow of private capital into clean energy markets;
(5) assist low-income, environmental justice, and BIPOC community utility customers in paying for solar and energy efficiency upgrades through energy cost savings;
(6) increase access to no-cost and low-cost loans for MBE and other contractors of color;
(7) develop financing products designed to compensate for historical and structural barriers preventing low-income, environmental justice, and BIPOC communities from accessing traditional financing;
(8) leverage private investment in clean energy projects and in projects developed by MBEs and other contractors of color; and
(9) pursue financial self-sustainability through innovative financing products.

(Source: P.A. 102-662, eff. 9-15-21.)

(805 ILCS 155/20-10)

(Section scheduled to be repealed on September 15, 2045)

Sec. 20-10. Definitions. As used in this Act:

"Black, indigenous, and people of color" or "BIPOC" means people who are members of the groups described in subparagraphs (a) through (e) of paragraph (A) of subsection (1) of Section 2 of the Business Enterprise for Minorities, Women, and Persons with Disabilities Act.

"Board" means the Board of Directors of the Clean Energy Jobs and Justice Fund.

"Contractor of color" means a business entity that is at least 51% owned by one or more BIPOC persons, or in the case of a corporation, at least 51% of the corporation's stock is owned by one or more BIPOC persons, and the management and daily business operations of which are controlled by one or more of the BIPOC persons who own it. A contractor of color may also be a nonprofit entity with a board of directors composed of at least 51% BIPOC persons or a nonprofit entity certified by the State of Illinois to be minority-led.

"Environmental justice communities" means the definition of that term based on existing methodologies and findings used by the Illinois Power Agency and its Administrator of the Illinois Solar for All Program.

"Fund" means the Clean Energy Jobs and Justice Fund.

"Low-income" means households whose income does not exceed 80% of Area Median Income (AMI), adjusted for family size and revised every 5 years.

"Low-income community" means a census tract where at least half of households are low-income.

"Minority-owned business enterprise" or "MBE" means a business certified as such by an authorized unit of government or other authorized entity in Illinois.

"Municipality" means a city, village, or incorporated town.

"Person" means any natural person, firm, partnership, corporation, either domestic or foreign, company, association, limited liability company, joint stock company, or association and includes any trustee, receiver, assignee, or personal representative thereof.

(Source: P.A. 102-662, eff. 9-15-21.)

(805 ILCS 155/20-15)

(Section scheduled to be repealed on September 15, 2045)

Sec. 20-15. Clean Energy Jobs and Justice Fund.

(a) Not later than 30 days after the effective date of this Act, there shall be incorporated a nonprofit corporation to be known as the "Clean Energy Jobs and Justice Fund".

(b) The Fund shall not be an agency or instrumentality of the State Government.

(d) The Fund shall:

(1) Be an organization described in subsection (c) of Section 501 of the Internal Revenue Code of 1986 and exempt from taxation under subsection (a) of Section 501 of that Code;
(2) Ensure that no part of the income or assets of the Fund shall inure to the benefit of any director, officer, or employee, except as reasonable compensation for services or reimbursement for expenses; and
(3) Not contribute to or otherwise support any political party or candidate for elective office.

(Source: P.A. 102-662, eff. 9-15-21.)

(805 ILCS 155/20-20)

(Section scheduled to be repealed on September 15, 2045)

Sec. 20-20. Board of Directors.

(a) The Fund shall be managed by, and its powers, functions, and duties shall be exercised through, a Board to be composed of 11 members. The initial members of the Board shall be appointed by the Governor with the advice and consent of the Senate within 60 days after the effective date of this Act. Members of the Board shall be broadly representative of the communities that the Fund is designed to serve. Of such members:

(1) at least one member shall be selected from each of the following geographic regions in the State: northeast, northwest, central, and southern;
(2) at least 2 members shall have experience in providing energy-related services to low-income, environmental justice, or BIPOC communities;
(3) at least one member shall own or be employed by an MBE or BIPOC-owned business focused on the deployment of clean energy;
(4) at least one member shall be a policy or implementation expert in serving low-income, environmental justice or BIPOC communities or individuals, including environmental justice communities, BIPOC communities, formerly convicted persons, persons who are or were in the child welfare system, displaced energy workers, gender nonconforming and transgender individuals, or youth; and
(5) at least one member shall be from a community-based organization with a specific mission to support racially and socioeconomically diverse environmental justice communities.

(a-5) The terms of the initial members of the Board shall be as follows:

(1) 5 members appointed and confirmed shall have initial 5-year terms;
(2) 3 members appointed and confirmed shall have initial 4-year terms; and
(3) 3 members appointed and confirmed shall have initial 3-year terms.

(b) Subsequent composition and terms.

(1) Except for the selection of the initial members of the Board for their initial terms under paragraph (1) of subsection (a) of this Section, the members of the Board shall be elected by the members of the Board.
(2) A member of the Board shall be disqualified from voting for any position on the Board for which such member is a candidate.
(3) All members elected pursuant to paragraph (2) of subsection (a) of this Section shall have a term of 5 years.

(c) The members of the Board shall be broadly representative of the communities that the Fund is designed to serve and shall collectively have expertise in environmental justice, energy efficiency, distributed renewable energy, workforce development, finance and investments, clean transportation, and climate resilience. Of such members:

(1) not fewer than 2 shall be selected from each of the following geographic regions in the State: northeast, northwest, central, and southern;
(2) not fewer than 2 shall be from an MBE or BIPOC-owned business focused on the deployment of clean energy;
(3) not fewer than 2 shall be from a community-based organization with a specific mission to support racially and socioeconomically diverse environmental justice communities; and
(4) not fewer than 2 shall be from an organization specializing in providing energy-related services to low-income, environmental justice, or BIPOC communities.
(5) Members of the Board can fulfill multiple criteria, such as representing the southern region and an MBE or BIPOC-owned business focused on the deployment of clean energy.

(d) No officer or employee of the State or any other level of government may be appointed or elected as a member of the Board.

(e) Seven members of the Board shall constitute a quorum.

(f) The Board shall adopt, and may amend, such bylaws as are necessary for the proper management and functioning of the Fund. Such bylaws shall include designation of officers of the Fund and the duties of such officers.

(g) No person who is an employee in any managerial or supervisory capacity, director, officer or agent or who is a member of the immediate family of any such employee, director, officer, or agent of any public utility is eligible to be a director. No director may hold any elective position, be a candidate for any elective position, be a State public official, be employed by the Illinois Commerce Commission, or be employed in a governmental position exempt from the Illinois Personnel Code.

(h) No director, nor member of his or her immediate family shall, either directly or indirectly, be employed for compensation as a staff member or consultant of the Fund.

(i) The Board shall hold regular meetings at least once every 3 months on such dates and at such places as it may determine. Meetings may be held by teleconference or videoconference. Special meetings may be called by the president or by a majority of the directors upon at least 7 days' advance written notice. The act of the majority of the directors, present at a meeting at which a quorum is present, shall be the act of the Board of Directors unless the act of a greater number is required by this Act or bylaws. A summary of the minutes of every Board meeting shall be made available to each public library in the State upon request and to individuals upon request. Board of Directors meeting minutes shall be posted on the Fund's website within 14 days after Board approval of the minutes.

(j) A director may not receive any compensation for his or her services but shall be reimbursed for necessary expenses, including travel expenses incurred in the discharge of duties. The Board shall establish standard allowances for mileage, room and meals and the purposes for which such allowances may be made and shall determine the reasonableness and necessity for such reimbursements.

(k) In the event of a vacancy on the Board, the Board of Directors shall appoint a temporary member, consistent with the requirements of the Board composition, to serve the remainder of the term for the vacant seat.

(l) The Board shall adopt rules for its own management and government, including bylaws and a conflict of interest policy.

(m) The Board of Directors of the Fund shall adopt written procedures for:

(1) adopting an annual budget and plan of operations, including a requirement of Board approval before the budget or plan may take effect;
(2) hiring, dismissing, promoting, and compensating employees of the Fund, including an affirmative action policy and a requirement of Board approval before a position may be created or a vacancy filled;
(3) acquiring real and personal property and personal services, including a requirement of Board approval for any non-budgeted expenditure in excess of $5,000;
(4) contracting for financial, legal, bond underwriting and other professional services, including requirements that the Fund (i) solicit proposals at least once every 3 years for each such service that it uses, and (ii) ensure equitable contracting with diverse suppliers;
(5) issuing and retiring bonds, bond anticipation notes, and other obligations of the Fund; and
(6) awarding loans, grants and other financial assistance, including (i) eligibility criteria, the application process and the role played by the Fund's staff and Board of Directors, and (ii) ensuring racial equity in the awarding of loans, grants, and other financial assistance.

(n) The Board shall develop a robust set of metrics to measure the degree to which the program is meeting the purposes set forth in Section 20-5 of this Act, and especially measuring adherence to the racial equity purposes set forth there, and a reporting format and schedule to be adhered to by the Fund officers and staff. These metrics and reports shall be posted quarterly on the Fund's website.

(o) The Board of Directors has the responsibility to make program adjustments necessary to ensure that the Clean Energy Jobs and Justice Fund is meeting the purposes set forth in this Act. Fund officers and staff and the Board of Directors are responsible for ensuring capital providers and Fund officers and staff, partners, and financial institutions are held to state and federal standards for ethics and predatory lending practices and shall immediately remove any offending products and sponsoring organizations from Fund participation.

(p) The Board shall issue annually a report reviewing the activities of the Fund in detail and shall provide a copy of such report to the joint standing committees of the General Assembly having cognizance of matters relating to energy and commerce. The report shall be published on the Fund's website within 3 days after its submission to the General Assembly.

(Source: P.A. 102-662, eff. 9-15-21.)

(805 ILCS 155/20-25)

(Section scheduled to be repealed on September 15, 2045)

Sec. 20-25. Powers and duties.

(a) The Fund shall endeavor to perform the following actions, but is not limited to these specified actions:

(1) Develop programs to finance and otherwise support clean energy investment and projects as determined by the Fund in keeping with the purposes of this Act.
(2) Support financing or other expenditures that promote investment in clean energy sources in order to (i) foster the development and commercialization of clean energy projects, including projects serving low-income, environmental justice, and BIPOC communities, and (ii) support project development by MBE and other contractors of color.
(3) Prioritize the provision of public and private capital for clean energy investment to MBEs and other contractors of color, and to clean energy investment in low-income, environmental justice, and BIPOC communities.
(4) Provide access to grants, no-cost, and low-cost loans to MBEs and other contractors of color, including those participating in the Clean Energy Primes Contractor Accelerator Program.
(5) Provide financial assistance in the form of grants, loans, loan guarantees or debt and equity investments, as approved in accordance with written procedures.
(6) Assume or take title to any real property, convey or dispose of its assets and pledge its revenues to secure any borrowing, convey or dispose of its assets and pledge its revenues to secure any borrowing, for the purpose of developing, acquiring, constructing, refinancing, rehabilitating or improving its assets or supporting its programs, provided each such borrowing or mortgage, unless otherwise provided by the Board or the Fund, shall be a special obligation of the Fund, which obligation may be in the form of bonds, bond anticipation notes, or other obligations that evidence an indebtedness to the extent permitted under this Act to fund, refinance and refund the same and provide for the rights of holders thereof, and to secure the same by pledge of revenues, notes and mortgages of others, and which shall be payable solely from the assets, revenues and other resources of the Fund and such bonds may be secured by a special capital reserve fund contributed to by the State.
(7) Contract with community-based organizations to design and implement program marketing, communications, and outreach to potential users of the Fund's products, particularly potential users in low-income, environmental justice, and BIPOC communities. These contracts shall include funding to ensure that the contracted community-based organizations provide materials and outreach support, including payments for time and expenses, to other community organizations, professional organizations, and subcontractors that have an interest in the Fund's financial products.
(8) Collect the following data and perform monthly and quarterly reporting to the Board in accordance with the reporting format and schedule developed by the Board of Directors:

(A) baseline data on capital sources or providers, loan recipients, projects funded, loan terms, and other relevant financial data;
(B) diversity and equity data, including race, gender, socioeconomic, and geographic region; and
(C) program administration and servicing data. These reports shall be published to the Fund's website monthly and quarterly. Reports published to the website may be anonymized to protect the data of individual program participants.

(9) Have the purposes as provided by resolution of the Fund's Board of Directors, which purposes shall be consistent with this Section and Section 20-5 of this Act. No further action is required for the establishment of the Fund, except the adoption of a resolution for the Fund.

(b) In addition to, and not in limitation of, any other power of the Fund set forth in this Section or any other provision of the general statutes, the Fund shall have and may exercise the following powers in furtherance of or in carrying out its purposes:

(1) have perpetual succession as a body corporate and to adopt bylaws, policies, and procedures for the regulation of its affairs and the conduct of its business;
(2) make and enter into all contracts and agreements that are necessary or incidental to the conduct of its business;
(3) invest in, acquire, lease, purchase, own, manage, hold, sell, and dispose of real or personal property or any interest therein;
(4) borrow money or guarantee a return to investors or lenders;
(5) hold patents, copyrights, trademarks, marketing rights, licenses, or other rights in intellectual property;
(6) employ such assistants, agents, and employees as may be necessary or desirable; establish all necessary or appropriate personnel practices and policies, including those relating to hiring, promotion, compensation and retirement, and engage consultants, attorneys, financial advisers, appraisers, and other professional advisers as may be necessary or desirable;
(7) invest any funds not needed for immediate use or disbursement pursuant to investment policies adopted by the Fund's Board of Directors;
(8) procure insurance against any loss or liability with respect to its property or business of such types, in such amounts and from such insurers as it deems desirable;
(9) enter into joint ventures and invest in, and participate with any person, including, without limitation, government entities and private corporations, in the formation, ownership, management and operation of business entities, including stock and nonstock corporations, limited liability companies and general or limited partnerships, formed to advance the purposes of the Fund, provided members of the Board of Directors or officers or employees of the Fund may serve as directors, members or officers of any such business entity, and such service shall be deemed to be in the discharge of the duties or within the scope of the employment of any such director, officer or employee, as the case may be, so long as such director, officer or employee does not receive any compensation or financial benefit as a result of serving in such role; and
(10) all other acts necessary or convenient to carry out the purposes of this Act.

(c) Before making any loan, loan guarantee, or such other form of financing support or risk management for a clean energy project, the Fund shall develop standards to govern the administration of the Fund through rules, policies, and procedures that specify borrower eligibility, terms, and conditions of support, and other relevant criteria, standards, or procedures.

(d) Funding sources specifically authorized include, but are not limited to:

(1) funds repurposed from existing programs providing financing support for clean energy projects, provided any transfer of funds from such existing programs shall be subject to approval by the General Assembly and shall be used for expenses of financing, grants, and loans;
(2) any federal funds that can be used for the purposes specified in this Act;
(3) charitable gifts, grants, contributions, as well as loans from individuals, corporations, university endowment funds, and philanthropic foundations; and
(4) earnings and interest derived from financing support activities for clean energy projects backed by the Fund.

(e) The Fund may enter into agreements with private sources to raise capital.

(f) The Fund may assess reasonable fees on its financing activities to cover its reasonable costs and expenses, as determined by the Board.

(g) The Fund shall make information regarding the rates, terms and conditions for all of its financing support transactions available to the public for inspection, including formal annual reviews by both a private auditor conducted pursuant this Section and the Comptroller, and provide details to the public on the Internet, provided public disclosure shall be restricted for patentable ideas, trade secrets, proprietary or confidential commercial or financial information, disclosure of which may cause commercial harm to a nongovernmental recipient of such financing support and for other information exempt from public records disclosure.

(h) The powers enumerated in this Section shall be interpreted broadly to effectuate the purposes established in this Section and shall not be construed as a limitation of powers.

(Source: P.A. 102-662, eff. 9-15-21.)

(805 ILCS 155/20-30)

(Section scheduled to be repealed on September 15, 2045)

Sec. 20-30. Primary responsibilities in early program development.

(a) Consistent with the goals of this Act, the Fund has the authority to pursue a broad range of financial products and services. In early development of products and services offered, the Fund should consider the following programs as its initial set of investment initiatives:

(1) a solar lease, power-purchase agreement, or loan-to-own product specifically designed to complement and grow the Illinois Solar for All Program;
(2) direct capitalization of contractors of color participating in or graduating from the workforce and business development programs established in the Energy Transition Act;
(3) providing direct capitalization of community-based projects in environmental justice communities through upfront grants. Project applications should provide a community benefit, align with environmental justice communities, be in support of this Act's contractor and workforce development goals, and support upfront planning, development, and start up costs that often are not covered prior to applying for program incentives and other loan products;
(4) providing loan loss reserve products to secure stable and low-interest financing for individual projects and portfolios consistent with the goals of this Act that would be otherwise unable to receive financing; and
(5) offering financing and administrative services for municipal utilities and rural electric cooperatives to create their own version of the on-bill Equitable Energy Upgrade Program such as the Pay As You Save program developed by the Energy Efficiency Institute.

(Source: P.A. 102-662, eff. 9-15-21.)

(805 ILCS 155/20-35)

(Section scheduled to be repealed on September 15, 2045)

Sec. 20-35. Executive director and fund management.

(a) The executive director hired by the Board shall have the same qualifications as a director pursuant to subsections (d), (g), and (h) of Section 20-20 of this Act. The executive director may not be a candidate for the Board of Directors while serving as executive director. The executive director must have 5 or more years of experience in equitable and inclusive financing serving racially and socioeconomically diverse communities.

(b) To hire the executive director, the Board shall adhere to any applicable State or federal law prohibiting discrimination in employment.

(c) The Board shall require all applicants for the position of executive director of the Fund to file a financial statement consistent with requirements established by the Board. The Board shall require the executive director to file a current statement annually.

(d) The Fund shall be administered by the executive director and the staff and overseen by the Board of Directors. Fund officers and staff shall receive training in how to best provide services and support to low-income, environmental justice, and BIPOC communities and on supporting borrowers with loan applications, loan underwriting, and loan services.

(Source: P.A. 102-662, eff. 9-15-21.)

(805 ILCS 155/20-40)

(Section scheduled to be repealed on September 15, 2045)

Sec. 20-40. Dissolution. The Fund may dissolve or be dissolved under the General Not for Profit Corporation Act.

(Source: P.A. 102-662, eff. 9-15-21.)

(805 ILCS 155/20-90)

(Section scheduled to be repealed on September 15, 2045)

Sec. 20-90. Repealer. This Act is repealed 24 years after the effective date of this Act.

(Source: P.A. 102-662, eff. 9-15-21.)

(805 ILCS 155/Art. 90 heading)

Article 90.(Amendatory and uncodified provisions; text omitted)

(805 ILCS 155/90-1)

Sec. 90-1. (Uncodified provisions; text omitted).