GEOTHERMAL HOMES AND BUSINESS

Reinserts the provisions of the introduced bill with the following changes. In provisions concerning program establishment, provides that the Program shall function as a separate and distinct procurement program that does not draw from the allocation and funding of renewable energy credits from other sources. In provisions concerning program block allocation, provides that at least 33% (rather than 50%) of each annual block shall be reserved by systems that meet the Illinois Power Agency's definition of "residential". In provisions concerning project terms, provides that applicant firms shall have advanced capital disbursed before geothermal renewable energy credits are first generated (rather than after the geothermal heating and cooling system is operational but before geothermal renewable energy credits are first generated). In provisions concerning advanced capital, provides that the amount or percentage of capital advanced for residential systems (rather than for all systems) shall be at the discretion of the Agency by not less than 40% of the total contract. Provides that the amount or percentage of capital advanced for commercial, public, or environmental justice systems shall be at the discretion of the Agency. In provisions concerning contract terms, provides that each project shall be subject to the requirements of the Prevailing Wage Act. Provides that the Agency shall require verification that, for all construction for a project that was performed by a renewable energy credit delivery contract holder, its contractors, or its subcontractors, the construction employees received an amount for the work equal to or greater than the general prevailing rate. Provides that geothermal renewable energy credits for any single geothermal heating and cooling project that is 285 tons or larger and is procured after the effective date of the amendatory provisions shall be from a project built by general contractors that entered into a project labor agreement prior to c