House Bill 2427, once signed by the Governor, will authorize a $30M renewable energy fund in Illinois.

Replaces everything after the enacting clause. Amends the Illinois Power Agency Act to provide for a supplemental procurement process for the procurement of renewable energy certificates from new or existing photovoltaics. Authorizes the expenditure of up to $30,000,000 from the Illinois Power Agency Renewable Energy Resources Fund for that purpose. Provides that renewable energy certificates from new photovoltaics that are procured pursuant to the supplemental procurement process must be procured from devices installed by a person who meets certain qualifications. Requires public hearings. Provides for a procurement administrator, a procurement monitor, pre-qualification of bidders, establishment of standard contract terms, benchmarks, and contingencies in the event of a default by a supplier. Effective immediately.