Senate Study Bill 1306
SENATE FILE
BY (PROPOSED COMMITTEE ON
ECONOMIC GROWTH BILL BY
CHAIRPERSON STEWART)
Passed Senate, Date Passed House, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act creating an Iowa advanced renewable fuels technology
2 commercialization program, fund, and an advisory board.
3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
4 TLSB 2626XC 82
5 tm/gg/14
PAG LIN
1 1 Section 1. NEW SECTION. 15.411 IOWA ADVANCED RENEWABLE
1 2 FUELS TECHNOLOGY COMMERCIALIZATION PROGRAM == FUND == ADVISORY
1 3 BOARD.
1 4 1. The department shall establish and administer an Iowa
1 5 advanced renewable fuels technology commercialization program
1 6 for purposes of providing cost=share grants to renewable fuels
1 7 producers that are installing commercial scale advanced and
1 8 innovative technology at new or existing renewable fuels
1 9 refineries. Grants awarded under the program shall be at
1 10 least five hundred thousand dollars but not more than five
1 11 million dollars per grant. In reviewing applications for
1 12 grants, the department shall consider the commercial
1 13 applicability of the technology; the extent to which the
1 14 technology is unique; and the potential of the technology to
1 15 address plant process technology, plant efficiency, or plant
1 16 environmental processes. The department shall consider
1 17 recommendations by the renewable fuels industry advisory board
1 18 regarding applications for financial assistance. Financial
1 19 assistance under the program shall be provided from the Iowa
1 20 advanced renewable fuels technology commercialization fund
1 21 created in subsection 2.
1 22 2. An Iowa advanced renewable fuels technology
1 23 commercialization fund is created in the state treasury under
1 24 the control of the department and consisting of any moneys
1 25 appropriated by the general assembly and any other moneys
1 26 available to and obtained or accepted by the department for
1 27 placement in the fund. The fund shall be used to provide
1 28 financial assistance under the Iowa advanced renewable fuels
1 29 technology commercialization program established in subsection
1 30 1. Any recaptures of financial assistance under the program
1 31 shall be deposited in the fund. Moneys in the fund are not
1 32 subject to section 8.33. Notwithstanding section 12C.7,
1 33 interest or earnings on moneys in the fund shall be credited
1 34 to the fund.
1 35 3. A renewable fuels industry advisory board is
2 1 established within the department for purposes of advising the
2 2 department on the approval of grants under the Iowa advanced
2 3 renewable fuels technology commercialization program and
2 4 consisting of members appointed by the director.
2 5 EXPLANATION
2 6 This bill creates an Iowa advanced renewable fuels
2 7 technology commercialization program, fund, and an advisory
2 8 board.
2 9 The bill requires the department of economic development to
2 10 establish and administer an Iowa advanced renewable fuels
2 11 technology commercialization program for purposes of providing
2 12 cost=share grants to renewable fuels producers that are
2 13 installing commercial scale advanced and innovative technology
2 14 at new or existing renewable fuels refineries. The bill
2 15 requires that the grants awarded be at least $500,000 but not
2 16 more than $5 million per grant. The bill provides that, in
2 17 reviewing applications for grants, the department shall
2 18 consider the commercial applicability of the technology; the
2 19 extent to which the technology is unique; and the potential of
2 20 the technology to address plant process technology, plant
2 21 efficiency, or plant environmental processes.
2 22 The bill creates an Iowa advanced renewable fuels
2 23 technology commercialization fund in the state treasury under
2 24 the control of the department and consisting of any moneys
2 25 appropriated by the general assembly and any other moneys
2 26 available to and obtained or accepted by the department for
2 27 placement in the fund. The bill provides that the fund shall
2 28 be used to provide financial assistance under the Iowa
2 29 advanced renewable fuels technology commercialization program.
2 30 The bill establishes a renewable fuels industry advisory
2 31 board within the department for purposes of advising the
2 32 department on the approval of grants under the Iowa advanced
2 33 renewable fuels technology commercialization program. The
2 34 bill requires the department to consider recommendations by
2 35 the renewable fuels industry advisory board regarding
3 1 applications for financial assistance.
3 2 LSB 2626XC 82
3 3 tm:nh/gg/14