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Illinois Statutes Chapter 30. Finance § 445/5. Definitions

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 5. Definitions. As used in this Act:

“Alternate bonds”, “applicable law”, “bond”, “general obligation bonds”, “limited bonds”, “governmental unit”, “revenue bonds”, “enterprise revenues”, and “revenue source” have the respective meanings set forth in Section 3 of the Local Government Debt Reform Act.

“Clean energy infrastructure project” means:

(i) a project that uses renewable energy resources, as defined in Section 1-10 of the Illinois Power Agency Act;

(ii) an energy efficiency project;

(iii) a project that uses technology for the storage of renewable energy, including, without limitation, the use of battery or electrochemical storage technology for mobile or stationary applications;

(iv) a project for the acquisition or repairs of electric vehicles;

(v) a project for the acquisition, construction, or repairs to electric vehicle charging stations; and

(vi) a building electrification project of replacing fossil fuels with electricity to meet a given end use.

“Electric vehicle” means a vehicle that is exclusively powered by and refueled by electricity, must be plugged in to charge, and is licensed to drive on public roadways.

“Electric vehicle charging station” means a station that delivers electricity from a source outside an electric vehicle into one or more electric vehicles.

“Energy efficiency project” means measures that reduce the amount of electricity, natural gas, or total Btu of electricity or natural gas required to achieve or meet a given end use, consistent with Section 1-10 of the Illinois Power Agency Act.

“Governing body” means the council, board, commission, or body, by whatever name it is known, having charge of the finances of a governmental unit.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 30. Finance § 445/5. Definitions - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-30-finance/il-st-sect-30-445-5/

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