Ill. Admin. Code tit. 32, § 110.10 - Purpose and Scope
a) The purpose
of the Illinois Industrial Coal Utilization Program is to increase the
environmentally sound use of Illinois Coal by Illinois manufacturers and
industries. (Section 9 of the Build Illinois Bond Act as amended by P.A.
84-1070, effective November 27, 1985, hereafter sometimes referred to as "the
Act").
b) The Department is
authorized to use monies deposited in the Illinois Industrial Coal Utilization
Fund, the Build Illinois Purposes Fund or the Build Illinois Bond Fund, subject
to appropriation, and to accept guarantees from individuals, partnerships,
joint ventures, corporations and governmental agencies for the purpose of
implementing a revolving loan program to partially finance new coal burning
facilities or conversion of existing facilities to Illinois Coal use.
c) The Department, subject to the approval of
the Illinois Coal Development Board, is authorized to make below market rate
loans available for Industrial Coal Projects. Any loan or series of loans shall
be limited to an amount not to exceed the lesser of $2,500,000 or 25% of the
Total Project Cost.
Notes
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