SPRINGFIELD – Continuing her work as an environmental advocate, State Senator Rachel Ventura is spearheading efforts to support green infrastructure loans for municipalities and counties.

"Meeting our state's clean energy goals and tackling the climate crisis requires real investment in our communities. That’s why expanding low-cost financial options for local governments is critical to accelerating the transition to clean energy,” said Ventura (D-Joliet). “As we grapple with the effects of climate change, such as abnormally large and powerful storms, we must invest in climate resilience projects to protect Illinoisans from future disasters.”

Senate Bill 2306 aims to expand the scope of clean energy projects under the Climate Bank Loan Financing Act to include storm resilience, nature-based solutions, and water and climate risk mitigation. This may include federal or other funds that can be used for clean water, drinking water, and wastewater treatment, or climate resilience projects.

Additionally, it enables local governments to seek financing from the Illinois Finance Authority and issue bonds to support the development or maintenance of climate resilience projects.

“Illinois has historically led the way on climate progress nationwide, and it’s more critical than ever that we continue to invest in innovative tools to address climate change, like the expanded funding mechanisms for nature-based climate solutions in this commonsense legislation,” said Jen Walling, executive director for the Illinois Environmental Council.

Senate Bill 2306 passed the Senate Executive Committee on Wednesday.