Illinois SB 2689: FINANCE AUTH-ENERGY STORAGE

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB2689

Introduced 10/14/2025, by Sen. Willie Preston 

SYNOPSIS AS INTRODUCED:

20 ILCS 3501/825-65

20 ILCS 3501/825-70

20 ILCS 3501/825-75

 Amends the Illinois Finance Authority Act. In provisions regarding clean coal, coal, energy efficiency, PACE, and renewable energy project financing, adds provisions regarding energy storage project financing. Makes changes in provisions concerning project bond authorizations and financing limits. Makes conforming changes to related provisions regarding findings, definitions, creation of reserve funds, powers and duties of the Illinois Finance Authority, criteria for program participation, securitization of bonds issued by the Authority, and other related provisions.

LRB104 14818 JDS 27961 b

A BILL FOR

SB2689LRB104 14818 JDS 27961 b

1 AN ACT concerning State government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Finance Authority Act is amended 

5by changing Sections 825-65, 825-70, and 825-75 as follows:

6 (20 ILCS 3501/825-65)

7 Sec. 825-65. Clean Coal, Coal, Energy Efficiency, Energy 

8Storage, PACE, and Renewable Energy Project Financing. 

9 (a) Findings and declaration of policy.

10 (i) It is hereby found and declared that Illinois has 

11 abundant coal resources and, in some areas of Illinois, 

12 the demand for power exceeds the generating capacity. 

13 Incentives to encourage the construction of coal-fueled 

14 electric generating plants in Illinois to ensure power 

15 generating capacity into the future and to advance clean 

16 coal technology and the use of Illinois coal are in the 

17 best interests of all of the citizens of Il