SB 2306 Illinois Senate · 104th Regular Session

IFA-CLIMATE RESILIENCE PROJECT

Summary

Amends the Illinois Finance Authority Act. In provisions concerning powers and duties of the Illinois Finance Authority in furtherance of its clean energy powers and purposes, provides that the Authority shall have the power to utilize certain funding sources for clean water, drinking water, and wastewater treatment or climate resilience projects. Amends the Climate Bank Loan Financing Act. Defines "climate resilience project" to mean a project to reduce hazards or risks to people and property from future disasters or climate-related conditions. Provides that "climate resilience project" includes, but is not limited to, projects that ensure access to clean water and drinking water, support wastewater treatment or resiliency of other essential infrastructure and other projects that reduce the potential impact of disasters or climate change. Adds climate resilience projects to provisions concerning clean energy infrastructure projects and authority to issue bonds. Effective immediately.

Issues: ✓ Energy ✓ Environment

Bill status passed 3 of 5 stages cleared

Introduction

Apr 2025

Committee Review

May 2025

Senate Passage

Apr 2025

House Passage

Governor

Introduced Apr 9, 2025 Last action May 31, 2025

Maddy AI version diff · 1 comparison

What changed between versions

Introduced → Engrossed · 4 edits · Apr 9, 2025

MODERATE

This bill expands the Illinois Finance Authority's ability to fund clean water, drinking water, and wastewater projects alongside its existing clean energy initiatives. It updates legal definitions to explicitly include climate resilience projects and clarifies what constitutes a 'project' to ensure broader eligibility for state financing.

Scope change

The bill broadens the scope of eligible projects from primarily clean energy to include water infrastructure and climate resilience measures, and redefines 'industrial project' to cover a wider range of economic activities.

SCOPE

Added explicit authority for the Illinois Finance Authority to utilize funding for clean water, drinking water, and wastewater treatment projects.

DEFINITION

Defined 'climate resilience project' to include efforts that reduce hazards from future disasters or climate change, specifically ensuring access to clean water and supporting wastewater treatment.

Expanded the definition of 'project' and 'industrial project' to include a wider variety of public purpose activities, including climate resilience and specific economic development goals.

FISCAL

Authorized the Authority to use various funding sources, including repurposed funds from existing programs and charitable contributions, for the newly included water and climate resilience projects.

Floor votes · Senate Apr 9, 2025

How they voted

50–4

Passed · 4 other

Total votes 58

Apr 9, 2025

D Democratic39

36 Yea 3

92% Yea

R Republican19

14 Yea 4 Nay 1

73% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 31, 2025

Committee

Rule 19(a) / Re-referred to Rules Committee

lower

May 8, 2025

Lower · Passed

Do Pass / Short Debate Revenue & Finance Committee; 011-005-000

lower

Apr 17, 2025

Committee

Assigned to Revenue & Finance Committee

lower

Apr 9, 2025

Committee

Referred to Rules Committee

lower

Apr 9, 2025

Introduced

Arrived in House

lower

Apr 9, 2025

Upper · Passed

Third Reading - Passed; 051-004-000

upper

Apr 9, 2025

Upper · Passed

Senate Floor Amendment No. 1 Adopted; Ventura

upper

Apr 3, 2025

Introduced

Senate Floor Amendment No. 1 Recommend Do Adopt Executive; 012-000-000

upper

Apr 2, 2025

Introduced

Senate Floor Amendment No. 1 Assignments Refers to Executive

upper

Apr 1, 2025

Committee

Senate Floor Amendment No. 1 Referred to Assignments

upper

Apr 1, 2025

Introduced

Senate Floor Amendment No. 1 Filed with Secretary by Sen. Rachel Ventura

upper

Mar 19, 2025

Upper · Passed

Do Pass Executive; 011-000-000

upper

Mar 4, 2025

Committee

Assigned to Executive

upper

Feb 7, 2025

Committee

Referred to Assignments

upper

2 primary · 18 co-sponsors