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Text: HF00232                           Text: HF00234
Text: HF00200 - HF00299                 Text: HF Index
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House File 233

Partial Bill History

Bill Text

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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