[ Search ] [ PDF text ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
92_HB2499
LRB9205101JSpc
1 AN ACT concerning utilities.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Public Utilities Act is amended by
5 changing Section 8-208 as follows:
6 (220 ILCS 5/8-208)
7 Sec. 8-208. Illinois Affordable Housing Trust Fund.
8 (a) The General Assembly finds that the availability of
9 adequate, affordable housing bears a close relationship to
10 efficient and reliable delivery of utility services and that
11 the lack of affordable housing exacerbates difficulties in
12 the delivery of electric services. It is further found that
13 the meeting of electric public utility service obligations
14 imposed under this Act can be attained by allocating certain
15 resources to alleviating housing needs. It is declared to be
16 the public policy of this State that prudent investments in
17 or contributions to projects that foster the availability of
18 adequate, affordable housing furthers the goals and
19 objectives of this Act.
20 (b) Beginning in calendar year 1994 and continuing
21 through calendar year 2014, a public utility providing
22 electric service to more than 1,000,000 customers in this
23 State shall contribute, from retained earnings, each year
24 $500,000 to the Illinois Affordable Housing Trust Fund
25 created by the Illinois Affordable Housing Act.
26 (Source: P.A. 88-83; 88-653, eff. 1-1-95.)