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House Journal: Page 2103: Wednesday, May 1, 1996

 9   REVOLVING LOAN PROGRAM.
10     1.  The Iowa energy center created under section
11   266.39C shall establish and administer an alternate
12   energy revolving loan program to encourage the
13   development of alternate energy production facilities
14   and small hydro facilities within the state.
15     2.  An alternate energy revolving loan fund is
16   created in the office of the treasurer of state to be
17   administered by the Iowa energy center.  The fund
18   shall include moneys remitted to the fund pursuant to
19   subsection 3 and any other moneys appropriated or
20   otherwise directed to the fund.  Moneys in the fund
21   shall be used to provide loans for the construction of
22   alternate energy production facilities or small hydro
23   facilities as defined in section 476.42.  A gas or
24   electric utility which is not required to be rate-
25   regulated shall not be eligible for a loan under this
26   section.  A facility shall be eligible for no more
27   than two hundred fifty thousand dollars in loans
28   outstanding at any time under this program.  Each loan
29   shall be for a period not to exceed twenty years,
30   shall bear no interest, and shall be repayable to the
31   fund created under this section in installments as
32   determined by the Iowa energy center.  The interest
33   rate upon delinquent payments shall accelerate
34   immediately to the current legal usury limit.  Any
35   loan made pursuant to this program shall become due
36   for payment upon sale of the facility for which the
37   loan was made.  Interest on the fund shall be
38   deposited in the fund.  Section 8.33 shall not apply
39   to the moneys in the fund.
40     3.  The board shall direct all gas and electric
41   utilities required to be rate-regulated to remit to
42   the treasurer of state by July 1, 1996, eighty-five
43   one-thousandths of one percent of the total gross
44   operating revenues during calendar year 1995 derived
45   from their intrastate public utility operations, by
46   July 1, 1997, eighty-five one-thousandths of one
47   percent of the total gross operating revenues during
48   calendar year 1996 derived from their intrastate
49   public utility operations and by July 1, 1998, eighty-
50   five one-thousandths of one percent of the total gross

Page 2  

 1   operating revenues during calendar year 1997 derived
 2   from their intrastate public utility operations.  The
 3   amounts collected pursuant to this section shall be in
 4   addition to the amounts permitted to be assessed
 5   pursuant to section 476.10 and the amounts assessed
 6   pursuant to section 476.10A.  The board shall allow
 7   inclusion of these amounts in the budgets approved by
 8   the board pursuant to section 476.6, subsection 19,

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

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Last update: Tue Jun 25 15:30:03 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/02100/02103.html
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