Ill. Admin. Code tit. 32 § 100.50

Current through Register Vol. 48, No. 49, December 6, 2024

Section 100.50 - State Funding

a) The Department allocates State Funding pursuant to statutory language of the Act, which provides that:

"The State of Illinois is authorized to issue, sell and provide for the retirement of general obligation bonds of the State of Illinois in the amount of $70,000,000, hereinafter called "Bonds," $65,000,000 of which shall be for the specific purposes of acquisition, development, construction, reconstruction, improvement, financing, architectural and technical planning and installation of capital facilities consisting of buildings, structures, durable equipment, and land for the purpose of capital development of coal resources, and $5,000,000 of which shall be for research and development of other forms of energy."

b) The Department has the power to recommend an amount of State Funding for a proposed Project to the Commission which amount and which proposed Project must be approved or rejected by the Commission within 45 days of the receipt of the proposal by the Commission.

c) The Department shall exercise its power to recommend an amount of State Funding to the Commission for its approval after

1) making a determination that the Project is a qualifying Project pursuant to Section 100.40 hereof, and

2) consideration of factors which include, but are not limited to, the following:

A) the market potential for the increased use of Illinois Coal, Coal Resources or Other Forms of Energy;

B) the transferability of the proposed Project results to commercial applications capable of utilizing Illinois Coal, Coal Resources or Other Forms of Energy;

C) the potential profit or proprietary benefits which will be derived from the Project by the Contractor and other Project participants, if any;

D) the ability of the Contractor or other Project participants to obtain funding from sources other than the State of Illinois;

E) the amount of State Funding in relation to the amount of Total Project Cost and the amount of other Funding; and

F) the other anticipated direct and indirect benefits of the Project to the State of Illinois.

Ill. Admin. Code tit. 32, § 100.50