Text: HF00232 Text: HF00234 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 99F.11, Code 1995, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 3A. Two million dollars of the adjusted
1 4 gross receipts shall be deposited annually in the wind energy
1 5 loan fund created in section 473.45.
1 6 Sec. 2. NEW SECTION. 473.45 WIND ENERGY LOAN PROGRAM &endash;
1 7 FUND.
1 8 1. The department shall establish a wind energy loan
1 9 program. The purpose of the program shall be to assist school
1 10 districts and community colleges to purchase and install wind
1 11 energy conversion systems to convert the kinetic energy of the
1 12 wind to electricity to supply all or a portion of the
1 13 electricity needs of the school district or community college.
1 14 For purposes of this section, "wind energy conversion system"
1 15 includes a rotor, tower, drivetrain, generator, and control
1 16 system.
1 17 2. A wind energy loan fund is established in the office of
1 18 the treasurer of the state to be administered by the
1 19 department. An annual appropriation from the adjusted gross
1 20 receipts from gambling games under section 99F.11 in the
1 21 amount of two million dollars shall be deposited in the wind
1 22 energy loan fund. The fund shall consist of all other
1 23 appropriations, grants, or gifts received by the department
1 24 specifically for use under this section and all repayments of
1 25 loans made under this section. Notwithstanding section 8.33,
1 26 moneys in the fund at the end of a fiscal year shall not
1 27 revert to any other fund but shall remain in the revolving
1 28 fund.
1 29 3. To be eligible for a wind energy loan under this
1 30 section, a school district or community college shall provide
1 31 all of the following:
1 32 a. A wind assessment study indicating that the energy cost
1 33 savings from the installation of a wind energy conversion
1 34 system would be greater than the costs of implementation of a
1 35 wind energy conversion system.
2 1 b. An assurance that the school district or community
2 2 college will provide a ten percent downpayment of the overall
2 3 costs to install the wind energy conversion system.
2 4 c. A copy of a written agreement indicating that the
2 5 school district or community college has obtained local
2 6 financing for thirty percent of the overall costs to install
2 7 the wind energy conversion system.
2 8 4. The department may make loans to school districts and
2 9 community colleges in an amount which is equivalent to sixty
2 10 percent of the overall costs to install the wind energy
2 11 conversion system. The interest rate for loans issued under
2 12 this section shall be no greater than five percent. The
2 13 department may enter into financing agreements with the school
2 14 district or community college in order to provide the
2 15 financing to pay the costs of furnishing the wind energy loans
2 16 as provided in this section. The financing agreement may
2 17 contain provisions, including terms and obligations to make
2 18 payments on the financing agreement beyond the current budget
2 19 year, as may be agreed upon between the department and the
2 20 school district or community college.
2 21 5. School districts and community colleges may enter into
2 22 financing arrangements with the department or its duly
2 23 authorized agents or representatives obligating the school
2 24 district or community college to make payments on the loans
2 25 beyond the current budget year of the school district or
2 26 community college. Chapter 75 shall not be applicable.
2 27 School districts shall repay the loans from moneys in either
2 28 their general fund or debt service fund. Community colleges
2 29 shall repay the loans from their general fund.
2 30 EXPLANATION
2 31 This bill authorizes the department of natural resources to
2 32 establish a wind energy loan program. It creates the wind
2 33 energy loan fund to be administered by the department and
2 34 appropriates $2,000,000 of the adjusted gross receipts from
2 35 gambling games under section 99F.11 to be deposited annually
3 1 in the wind energy loan fund. The purpose of the program is
3 2 to assist school districts and community colleges to purchase
3 3 and install wind energy conversion systems to convert the
3 4 kinetic energy of the wind to electricity to supply all or a
3 5 portion of the electricity needs of the school district or
3 6 community college.
3 7 To be eligible for a wind energy loan, a school district or
3 8 community college must provide a wind assessment study
3 9 indicating that the energy cost savings from the installation
3 10 of a wind energy conversion system would be greater than the
3 11 costs of implementation, an assurance that the school district
3 12 or community college will provide a 10 percent downpayment of
3 13 the overall costs to install the wind energy conversion
3 14 system, and a copy of a written agreement indicating that the
3 15 school district or community college has obtained local
3 16 financing for 30 percent of the overall costs to install the
3 17 wind energy conversion system.
3 18 The department may make loans to school districts and
3 19 community colleges in an amount which is equivalent to 60
3 20 percent of the overall costs to install the wind energy
3 21 conversion system. The interest rate for loans is to be no
3 22 greater than 5 percent. The bill authorizes the department
3 23 and a school district and community college to enter into
3 24 financing agreements providing for repayment and terms of the
3 25 wind energy loans.
3 26 LSB 1875HH 76
3 27 js/jj/8
Text: HF00232 Text: HF00234 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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