House Study Bill 319 HOUSE FILE BY (PROPOSED COMMITTEE ON APPROPRIATIONS BILL BY CHAIRPERSON OLDSON) Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act making appropriations for specified energy=related 2 purposes and providing an effective date. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2933YC 82 5 rn/cf/24 PAG LIN 1 1 Section 1. NEW SECTION. 469.10 IOWA POWER FUND == 1 2 APPROPRIATION. 1 3 1. There is appropriated from the general fund of the 1 4 state to the office of energy independence, if enacted by 2007 1 5 Iowa Acts, House Study Bill 305, or its successor, for each 1 6 fiscal year of the fiscal period beginning July 1, 2008, and 1 7 ending June 30, 2011, the sum of twenty=five million dollars 1 8 to be used for awarding grants and making loans from the Iowa 1 9 power fund, if enacted by 2007 Iowa Acts, House Study Bill 1 10 305, or its successor. 1 11 2. Of the moneys appropriated to the office and deposited 1 12 in the fund, the office shall utilize up to one and 1 13 five=tenths percent of the amount appropriated from the fund 1 14 for a fiscal year for administrative costs. 1 15 3. Of the moneys appropriated to the office and deposited 1 16 in the fund, there shall be allocated on an annual basis two 1 17 million five hundred thousand dollars to the department of 1 18 economic development for deposit into the workforce training 1 19 and economic development funds of the community colleges 1 20 created pursuant to section 260C.18A. Of the funds so 1 21 deposited into the workforce training and economic development 1 22 funds of the community colleges, two million five hundred 1 23 thousand dollars shall be used each year in the development 1 24 and expansion of energy industry areas and for the 1 25 department's north American industrial classification system 1 26 for targeted industry areas established pursuant to section 1 27 260C.18A. 1 28 4. Notwithstanding section 8.33, amounts appropriated 1 29 pursuant to this section shall not revert but shall remain 1 30 available for the purposes designated for the following fiscal 1 31 year. Notwithstanding section 12C.7, subsection 2, interest 1 32 or earnings on moneys in the funds shall be credited to the 1 33 fund. 1 34 Sec. 2. IOWA POWER FUND. There is appropriated from the 1 35 general fund of the state to the office of energy 2 1 independence, if enacted by 2007 Iowa Acts, House Study Bill 2 2 305, or its successor, for the fiscal year beginning July 1, 2 3 2006, and ending June 30, 2007, the following amount, or so 2 4 much thereof as is necessary, to be used for the purposes 2 5 designated: 2 6 For deposit in the Iowa power fund, if enacted by 2007 Iowa 2 7 Acts, House Study Bill 305, or its successor: 2 8 .................................................. $ 24,670,000 2 9 1. Of the moneys appropriated to the office and deposited 2 10 in the fund, the office shall utilize up to one and 2 11 five=tenths percent of the amount appropriated from the fund 2 12 for administrative purposes. 2 13 2. Of the moneys appropriated to the office and deposited 2 14 in the fund, there shall be allocated two million five hundred 2 15 thousand dollars to the department of economic development for 2 16 deposit into the workforce training and economic development 2 17 funds of the community colleges created pursuant to section 2 18 260C.18A. Of the funds so deposited into the workforce 2 19 training and economic development funds of the community 2 20 colleges, two million five hundred thousand dollars shall be 2 21 used each year in the development and expansion of energy 2 22 industry areas and for the department's north American 2 23 industrial classification system for targeted industry areas 2 24 established pursuant to section 260C.18A. 2 25 3. Notwithstanding section 8.33, amounts appropriated 2 26 pursuant to this section shall not revert but shall remain 2 27 available for the purposes designated for the following fiscal 2 28 year. Notwithstanding section 12C.7, subsection 2, interest 2 29 or earnings on moneys in the funds shall be credited to the 2 30 fund. 2 31 Sec. 3. 2007 Iowa Acts, Senate File 403, section 5, if 2 32 enacted, is repealed. 2 33 Sec. 4. EFFECTIVE DATE. This Act, being deemed of 2 34 immediate importance, takes effect upon enactment. 2 35 EXPLANATION 3 1 This bill makes appropriations from the general fund of the 3 2 state to the office of energy independence, if enacted by 2007 3 3 Iowa Acts, House Study Bill 305, or its successor, to be used 3 4 for awarding grants and making loans from the Iowa power fund, 3 5 also if enacted by 2007 Iowa Acts, House Study Bill 305, or 3 6 its successor. 3 7 The bill appropriates $25 million from the general fund of 3 8 the state for the above=stated purposes for each fiscal year 3 9 of the fiscal period beginning July 1, 2008, and ending June 3 10 30, 2011. The bill also appropriates $24,670,000 for the 3 11 above=stated purposes for the fiscal year beginning July 1, 3 12 2006, and ending June 30, 2007. 3 13 The bill provides that of the moneys appropriated to the 3 14 office and deposited in the fund, the office shall utilize up 3 15 to 1.5 percent of the amount appropriated from the fund for 3 16 administrative purposes. The bill also provides that of the 3 17 moneys appropriated to the office and deposited in the fund, 3 18 there shall be allocated $2.5 million to the department of 3 19 economic development for deposit into the workforce training 3 20 and economic development funds of the community colleges 3 21 created pursuant to Code section 260C.18A. Of the funds so 3 22 deposited into the workforce training and economic development 3 23 funds of the community colleges, $2.5 million shall be used 3 24 each year in the development and expansion of energy industry 3 25 areas and for the department's north American industrial 3 26 classification system for targeted industry areas established 3 27 pursuant to Code section 260C.18A. 3 28 The bill additionally repeals a provision contained in 2007 3 29 Iowa Acts, Senate File 403, if enacted, which appropriates 3 30 $250,000 from the general fund of state to the office of the 3 31 governor and lieutenant governor for the fiscal year beginning 3 32 July 1, 2006, and ending June 30, 2007, for initial 3 33 implementation of the office of energy independence. 3 34 The bill takes effect upon enactment. 3 35 LSB 2933YC 82 4 1 rn:rj/cf/24