In re: Resource Technology Corp.

Federal 7th Circuit Court
Civil Court
Case Number: 
No. 11-1633
Decision Date: 
June 28, 2013
Federal District: 
N.D. Ill., E. Div.
Bankruptcy Ct. did not err in finding that defunct debtor-solid waste energy facility was liable under Public Utility Act, 220 ILCS 5/8-403.1(d), for only tax credits that creditor-State of Illinois issued after effective date of 2006 amendment to said Act to electric utilities that purchased electricity from debtor for portion of debtor’s electric rate that exceeded rate established under federal law. Under Illinois’ Statute on Statutes, 2006 amendment (which required, among other things, repayment of tax credits upon cessation of debtor’s business operations, as opposed to repayment of tax credits upon debtor’s satisfaction of its capital costs in developing its facility as required under Act prior to 2006 amendment) applied prospectively absent clear indication of retrospective temporal reach. Thus, creditor could seek payment of only those tax credits issued after effective date of 2006 amendment since 2006 amendment did not clearly indicate that new repayment conditions applied to tax credits issued prior to 2006 amendment.