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SB 4192

PACE PROGRAM-COOK COUNTY

104th Regular Session Introduced by Sara Feigenholtz

Expands Cook County PACE financing for energy and related improvements, detailing administration, assessments, eligible projects, protections, and oversight.

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Bill Summary · SB 4192

Summary of SB 4192 (104th Illinois Senate) – PACE PROGRAM – COOK COUNTY

Purpose and intent

  • SB 4192 proposes changes to the PACE (Property Assessed Clean Energy) program within Cook County, Illinois. The bill is framed to expand or modify how PACE financing can be used, administered, and overseen in Cook County, with the aim of promoting energy efficiency, renewable energy projects, and related improvements on private property.

Key provisions and changes

  • Jurisdiction and scope: Applies specifically to Cook County and its municipalities, detailing how PACE assessments are implemented within this jurisdiction.
  • Financing mechanisms: Addresses the creation, structure, and administration of PACE assessments and related financing instruments for eligible projects.
  • Eligible improvements: Defines or reinforces categories of property improvements that may be financed under PACE, typically including energy efficiency, water efficiency, renewable energy systems, and other qualifying green improvements.
  • Assessment process: Establishes procedures for how assessments are levied, recorded, and collected, and how they may be tied to the property tax bill or property records.
  • Assurance and safeguards: May include requirements related to disclosures to property owners, protections for consumers, and compliance standards for program administrators and lenders.
  • Oversight and administration: Describes the roles and responsibilities of local government entities, program administrators, and possible coordination with state-level PACE framework or existing county programs.
  • Revenue and fiscal provisions: Outlines funding, cost recovery, fees, and any fiscal impact on the county or participating municipalities.
  • Interactions with other law: Clarifies how the Cook County PACE program interacts with state PACE law, municipal ordinances, and existing financing mechanisms.

Who would be affected

  • Property owners in Cook County: Who may seek PACE financing for eligible improvements.
  • Local governments and municipalities in Cook County: Responsible for implementing, administering, and supervising PACE activities.
  • PACE program administrators and lenders: Entities that manage assessments, provide financing, and service loans.
  • Consumers and neighbors: Indirectly affected through potential impacts on property values, tax bills, and disclosure requirements.

Procedural and timeline considerations

  • The bill likely specifies effective dates for enactment, any phased implementation, and transitional provisions for existing PACE agreements within Cook County.
  • It may establish reporting, monitoring, and compliance deadlines for program administrators and participating jurisdictions.
  • There may be sunset or renewal provisions, or mandates for periodic review of program performance and consumer protections.

Potential impact and considerations

  • Could broaden access to financing for energy efficiency and renewable energy projects in Cook County, potentially accelerating decarbonization and cost savings for property owners.
  • May impose new administrative requirements and costs on counties, municipalities, and program administrators.
  • The bill’s exact definitions of eligible improvements, assessment terms, and consumer protections will determine the scope of projects and borrower risk.

Note: This summary reflects the typical structure and provisions of PACE-related bills and the limited information provided. For precise language, definitions, thresholds, dollar amounts, dates, and procedural steps, please refer to the official bill text and fiscal notes from the Illinois General Assembly.

Compiled from official sources — confirm details with the bill’s official record.

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