Text: HSB00574                          Text: HSB00576
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House Study Bill 575

Bill Text

PAG LIN
  1  1    Section 1.  Section 266.39C, subsection 3, Code 2001, is
  1  2 amended to read as follows:
  1  3    3.  Iowa state university of science and technology shall
  1  4 employ a director for the center, who shall be appointed by
  1  5 the president of Iowa state university of science and
  1  6 technology.  The director of the center shall employ necessary
  1  7 research and support staff.  The director and staff shall be
  1  8 employees of Iowa state university of science and technology.
  1  9 No more than seven hundred thousand dollars of the funds made
  1 10 available by appropriation from state revenues in any one year
  1 11 shall be expended by the center for the salaries and benefits
  1 12 of the employees of the center, including the salary and
  1 13 benefits of the director.  The limit on expenditures for
  1 14 salaries and benefits shall be adjusted annually by a
  1 15 percentage equal to the average percentage salary adjustment
  1 16 approved annually by the state board of regents for
  1 17 professional and scientific employees at Iowa state university
  1 18 of science and technology.  The remainder of the funds
  1 19 appropriated from state funds shall be used to sponsor
  1 20 research grants and projects submitted on a competitive basis
  1 21 by Iowa colleges and universities and private nonprofit
  1 22 agencies and foundations.  The center may also solicit
  1 23 additional grants and funding from public and private
  1 24 nonprofit agencies and foundations.
  1 25    The director shall prepare an annual report.
  1 26    Sec. 2.  Section 266.39C, subsection 6, Code 2001, is
  1 27 amended by striking the subsection.
  1 28    Sec. 3.  Section 476.10A, Code 2001, is amended to read as
  1 29 follows:
  1 30    476.10A  FUNDING FOR IOWA ENERGY CENTER AND CENTER FOR
  1 31 GLOBAL AND REGIONAL ENVIRONMENTAL RESEARCH.
  1 32    1.  a.  The board shall direct all gas and electric
  1 33 utilities to remit to the treasurer of state one-tenth of one
  1 34 percent of the total gross operating revenues during the last
  1 35 calendar year derived from their intrastate public utility
  2  1 operations.  The board shall by rule provide a schedule for
  2  2 remittances which shall require that the first remittance be
  2  3 made not before July 1, 1991.
  2  4    b.  The amounts collected pursuant to this section shall be
  2  5 in addition to the amounts permitted to be assessed pursuant
  2  6 to section 476.10.  The board shall allow inclusion of these
  2  7 amounts in the budgets approved by the board pursuant to
  2  8 section 476.6, subsection 19, paragraph "c".
  2  9    c.  (1)  Eighty-five percent of the remittances collected
  2 10 pursuant to this section is appropriated to the Iowa energy
  2 11 center created in section 266.39C.
  2 12    (2)  Fifteen percent of the remittances collected pursuant
  2 13 to this section is appropriated to the center for global and
  2 14 regional environmental research established by the state board
  2 15 of regents.
  2 16    2.  Notwithstanding section 8.33, any unexpended moneys
  2 17 remitted to the treasurer of state under this section shall be
  2 18 retained for the purposes designated.  Notwithstanding section
  2 19 12C.7, subsection 2, interest or earnings on investments or
  2 20 time deposits of the moneys remitted under this section shall
  2 21 be retained and used for the purposes designated, pursuant to
  2 22 section 476.46.
  2 23    3.  The Iowa energy center and the center for global and
  2 24 regional environmental research shall each provide a written
  2 25 annual report to the utilities board which that describes each
  2 26 center's activities and the results that each center has
  2 27 accomplished.  Each report shall include an explanation of
  2 28 initiatives and projects of importance to the state of Iowa.
  2 29    Sec. 4.  Section 476.46, subsection 2, Code 2001, is
  2 30 amended to read as follows:
  2 31    2.  a.  An alternate energy revolving loan fund is created
  2 32 in the office of the treasurer of state to be administered by
  2 33 the Iowa energy center.
  2 34    b.  The fund shall include moneys remitted to the fund
  2 35 pursuant to subsection 3 and any other moneys appropriated or
  3  1 otherwise directed to the fund.
  3  2    c.  Moneys in the fund shall be used to provide loans for
  3  3 the construction of alternate energy production facilities or
  3  4 small hydro facilities as defined in section 476.42.
  3  5    d.  (1)  A gas or electric utility which that is not
  3  6 required to be rate-regulated shall not be eligible for a loan
  3  7 under this section.
  3  8    (2)  A facility shall be eligible for no more than two
  3  9 hundred fifty thousand dollars in loans outstanding at any
  3 10 time under this program.
  3 11    e.  (1)  Each loan shall be for a period not to exceed
  3 12 twenty years, shall bear no interest, and shall be repayable
  3 13 to the fund created under this section in installments as
  3 14 determined by the Iowa energy center.  The interest rate upon
  3 15 delinquent payments shall accelerate immediately to the
  3 16 current legal usury limit.
  3 17    (2)  Any loan made pursuant to this program shall become
  3 18 due for payment upon sale of the facility for which the loan
  3 19 was made.
  3 20    (3)  Interest on the fund shall be deposited in the fund.
  3 21 A portion of the interest on the fund, not to exceed fifty
  3 22 percent of the total interest accrued, shall be used for
  3 23 promotion and administration of the fund.
  3 24    f.  Section 8.33 shall not apply to the moneys in the fund.  
  3 25                           EXPLANATION
  3 26    This bill amends Code sections in Code chapters 266 and 476
  3 27 that relate to the Iowa energy center.
  3 28    The bill amends Code section 266.39C to provide that the
  3 29 current $700,000 limit on salary expenditures for the Iowa
  3 30 energy center shall be adjusted annually according to the
  3 31 salary adjustment approved by the state board of regents for
  3 32 professional and scientific employees at Iowa state university
  3 33 of science and technology.
  3 34    The bill amends Code section 476.46, relating to the
  3 35 alternate energy revolving fund, to provide that up to 50
  4  1 percent of the interest earned on the fund shall be used for
  4  2 promotion and administration of the fund.  Related changes are
  4  3 made to language in Code section 476.10A.  Both of those
  4  4 provisions are also subdivided into subsections, paragraphs,
  4  5 and subparagraphs, and other grammatical changes have been
  4  6 made, and date provisions have been removed and language
  4  7 updated.
  4  8    The bill also deletes Code section 266.39C, subsection 6,
  4  9 which relates to a study and report on rural rail feasibility
  4 10 that was completed in 1992.  
  4 11 LSB 5473HC 79
  4 12 jj/cls/14
     

Text: HSB00574                          Text: HSB00576
Text: HSB00500 - HSB00599               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

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