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HF 1148

as introduced - 91st Legislature (2019 - 2020) Posted on 03/02/2020 04:31pm

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
relating to energy; establishing a revolving loan fund for energy conservation in
schools; appropriating money; proposing coding for new law in Minnesota Statutes,
chapter 216C.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [216C.372] SCHOOL ENERGY CONSERVATION REVOLVING LOAN
FUND.
new text end

new text begin Subdivision 1. new text end

new text begin Definitions. new text end

new text begin (a) For the purposes of this section, the following terms have
the meanings given them.
new text end

new text begin (b) "Energy conservation" means a net reduction in energy use.
new text end

new text begin (c) "Energy conservation improvement" means a measure or program that targets
consumer behavior, equipment, processes, or devices designed to result in a net reduction
in energy use when implemented.
new text end

new text begin (d) "Project" means the energy conservation improvements financed by a loan made
under this section.
new text end

new text begin (e) "School district" means an independent or special school district.
new text end

new text begin Subd. 2. new text end

new text begin Establishment. new text end

new text begin A school energy conservation revolving loan fund is established
to make loans to school districts to implement energy conservation improvements in school
district buildings. The fund must be credited with investment income and with repayments
of principal and interest. Money in the fund is annually appropriated to the commissioner
and does not lapse.
new text end

new text begin Subd. 3. new text end

new text begin Fund management. new text end

new text begin The commissioner must manage and administer the school
energy conservation revolving loan fund.
new text end

new text begin Subd. 4. new text end

new text begin Applications. new text end

new text begin Applicants for loans must submit an application to the
commissioner on a form prescribed by the commissioner. An applicant must supply the
following information:
new text end

new text begin (1) the total estimated cost of the project and the loan amount sought;
new text end

new text begin (2) a description of existing equipment, structural elements, operating characteristics,
and other conditions affecting energy use that the energy conservation improvements financed
by the loan modify or replace;
new text end

new text begin (3) a description of the proposed project;
new text end

new text begin (4) a detailed budget for the project;
new text end

new text begin (5) calculations sufficient to demonstrate the expected energy and monetary savings that
result from implementation of the project;
new text end

new text begin (6) information demonstrating the school district's ability to repay the loan; and
new text end

new text begin (7) any additional information requested by the commissioner.
new text end

new text begin Subd. 5. new text end

new text begin Loan conditions. new text end

new text begin (a) A loan must be made at or below market interest rates,
including zero interest loans. A loan term must not exceed 15 years.
new text end

new text begin (b) Loan principal and interest payments must begin no later than one year after
completion of the project.
new text end

new text begin Subd. 6. new text end

new text begin Exception. new text end

new text begin Section 126C.10, subdivision 14, clause (11), does not apply to
loans made under this section.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Sec. 2. new text beginAPPROPRIATION.
new text end

new text begin (a) $....... in fiscal year 2020 is appropriated from the renewable development account
established under Minnesota Statutes, section 116C.779, subdivision 1, to the commissioner
of commerce to provide loans to school districts for energy conservation projects under
Minnesota Statutes, section 216C.372. This appropriation must be used only for loans made
to school districts in the electric service area of a public utility that owns a nuclear electric
generating plant in Minnesota.
new text end

new text begin (b) $....... in fiscal year 2020 is appropriated from the general fund to the commissioner
of commerce to provide loans to school districts for energy conservation projects under
Minnesota Statutes, section 216C.372. This appropriation must be used only for loans made
to school districts outside the electric service area of a public utility that owns a nuclear
electric generating plant in Minnesota.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end