220 ILCS 5/18-102
2021 Illinois Compiled Statutes|Chapter 220 - UTILITIES|220 ILCS 5/ - Public Utilities Act.|Article XVIII - Electric Utility Transitional Funding Law

Sec. 18-102.     Definitions.     For the purposes of this  Article the following terms shall be defined as set forth in  this Section. Terms defined in Article XVI shall have the same meanings in this  Article."Assignee" means any party, other than an electric  utility or grantee, to which an interest in intangible  transition property shall have been assigned, sold or  transferred.  The term "assignee" includes any corporation,  public authority, trust, financing vehicle, partnership,  limited liability company or other entity."Grantee" means any party, other than an electric utility  or an assignee which acquires its interest from an electric  utility, to whom or for whose benefit the Commission shall  create, establish and grant rights in, to and under intangible  transition property.  The term "grantee" includes any  corporation, public authority, trust, financing vehicle,  partnership, limited liability company or other entity."Grantee instruments" means (a) any instruments,  documents, notes, debentures, bonds or other evidences of  indebtedness evidencing any contractual right to receive the  payment of money from a grantee or (b) any certificates of  participation, certificates of beneficial interest or other  instruments evidencing a beneficial or ownership interest in a  grantee or in intangible transition property of such grantee  which are (i) issued (A) by or on behalf of a grantee pursuant  to a transitional funding order and (B) pursuant to an  executed indenture, pooling agreement, security agreement or  other similar agreement of such grantee creating a security  interest, ownership interest or other beneficial interest in  intangible transition property and (ii) payable solely from  proceeds of intangible transition property, including amounts  received with respect to the related instrument funding  charges."Holder" means any holder of transitional funding  instruments, including a trustee, collateral agent, nominee or  other such party acting for the benefit of such a holder."Instrument funding charge" means a non-bypassable charge  expressed in cents per kilowatt-hour authorized in a  transitional funding order to be applied and invoiced to each  retail customer, class of retail customers of an electric  utility or other person or group of persons obligated to pay  any base rates, transition charges or other rates for tariffed  services from which such instrument funding charge has been  deducted and stated separately pursuant to  subsection (j) of Section 18-104."Intangible transition property" means the right, title,  and interest of an electric utility or grantee or assignee arising pursuant to  a  transitional funding order to  impose and receive instrument funding charges, and all related  revenues, collections, claims, payments, money, or proceeds  thereof,  including all right, title, and interest of an electric  utility, grantee or assignee in, to, under and pursuant to  such transitional funding order,  whether or not such  intangible transition property described above is  characterized on the books of the electric utility as a  regulatory asset or as a cost incurred by the electric utility  or otherwise. Intangible transition property shall arise and  exist only when, as, and to the extent that instrument funding  charges are authorized in a transitional funding order that  has become effective in accordance with this Article and shall  thereafter continuously exist to the extent provided in the  order."Issuer" means any party, other than an electric utility,  which has issued transitional funding instruments.  The term  "issuer" includes any corporation, public authority, trust,  financing vehicle, partnership, limited liability company or  other entity."Transitional funding instruments" means any instruments,  pass-through certificates, notes, debentures, certificates of  participation, bonds, certificates of beneficial interest or  other evidences of indebtedness or instruments evidencing a  beneficial interest (i) which are issued by or on behalf of an  electric utility or issuer pursuant to a transitional funding  order, (ii) which are issued pursuant to an executed  indenture, pooling agreement, security agreement or other  similar agreement of an electric utility or issuer creating a  security interest, ownership interest or other beneficial  interest in intangible transition property or grantee  instruments, if any, and (iii) the proceeds of which are to be  used for the purposes set forth in subparagraph (1) of  subsection (d) of Section 18-103 of this Article."Transitional funding order" means an order of the  Commission issued in accordance with the provisions of this  Article creating and establishing intangible transition  property and the rights of any party therein and approving the  sale, pledge, assignment or other transfer of intangible  transition property and grantee instruments, if any, the  issuance of transitional funding instruments and grantee  instruments, if any, and the imposition and collection of  instrument funding charges.    (Source: P.A. 90-561, eff. 12-16-97.)