HF 2492

as introduced - 91st Legislature (2019 - 2020) Posted on 03/18/2019 10:19pm

A bill for an act
relating to energy; establishing an electric vehicle charging station revolving loan
program; requiring a report; 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.45] ELECTRIC VEHICLE CHARGING STATION REVOLVING
LOAN PROGRAM.
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new text begin Subdivision 1. new text end

new text begin Definitions. new text end

new text begin (a) For purposes of this section, the terms defined in this
subdivision have the meanings given them.
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new text begin (b) "Borrower" means the state, counties, cities, other governmental entities, nonprofit
organizations, and private businesses eligible under this section to apply for and receive
loans from the electric vehicle charging station revolving loan fund.
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new text begin (c) "Commissioner" means the commissioner of commerce.
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new text begin (d) "Electric vehicle" has the meaning given in section 169.011, subdivision 26a.
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new text begin (e) "Electric vehicle charging station" means an electric component assembly or cluster
of component assemblies designed specifically to charge an electric vehicle battery by
transferring electric energy to a battery or a storage device in the electric vehicle.
new text end

new text begin (f) "Loan" means financial assistance provided for all or part of the cost of an electric
vehicle charging station project, including money for design, development, purchase, or
installation.
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new text begin Subd. 2. new text end

new text begin Revolving loan fund. new text end

new text begin The commissioner must establish an electric vehicle
charging station revolving loan fund to make loans for all or part of the cost of an electric
vehicle charging station project installed in Minnesota.
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new text begin Subd. 3. new text end

new text begin Administration. new text end

new text begin (a) The commissioner must establish a minimum interest rate
for loans to ensure that necessary loan administration costs are covered. The minimum
interest rate must not exceed:
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new text begin (1) one percent interest for a loan to a borrower that is the state, other governmental
entity, or a nonprofit organization; or
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new text begin (2) three percent interest for a loan to a borrower that is a private business.
new text end

new text begin (b) Loan repayment of principal and loan interest payments must be paid to the department
for deposit in the revolving loan fund for subsequent distribution or use consistent with the
requirements under this section.
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new text begin Subd. 4. new text end

new text begin Applications. new text end

new text begin (a) A loan applicant must submit an application to the
commissioner on forms prescribed by the commissioner.
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new text begin (b) The applicant must provide the following information:
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new text begin (1) the estimated cost of the project and the amount of the loan sought;
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new text begin (2) other possible sources of funding in addition to loans sought from the electric vehicle
charging station revolving loan fund;
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new text begin (3) the proposed methods and sources of funds to repay loans received; and
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new text begin (4) information demonstrating the financial status and ability of the borrower to repay
loans.
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new text begin Subd. 5. new text end

new text begin Use of loan funds. new text end

new text begin (a) Loans made with funds from the electric vehicle charging
station revolving loan fund may be used to design, develop, purchase, and install electric
vehicle charging stations at locations in Minnesota.
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new text begin (b) An electric vehicle charging station project receiving loan funds under this section
must be available for public use.
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new text begin Subd. 6. new text end

new text begin Evaluation of projects. new text end

new text begin (a) The commissioner must consider the following
information when evaluating a project:
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new text begin (1) a description of the nature and purpose of the proposed project, including an
explanation of the need for the project and the reasons why the project is in the public
interest;
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new text begin (2) the relationship of the project to the local area's needs;
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new text begin (3) the estimated project cost and the loan amount sought;
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new text begin (4) proposed sources of funding in addition to the loan sought from the electric vehicle
charging station revolving loan fund;
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new text begin (5) the need for the project as part of the overall transportation system; and
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new text begin (6) the overall economic impact of the project.
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new text begin (b) When evaluating projects, the commissioner may consult with the commissioner of
transportation regarding the electric vehicle charging needs throughout the state.
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new text begin Subd. 7. new text end

new text begin Maximum loan amount. new text end

new text begin The maximum loan amount under this section is
$....... per electric vehicle charging station project.
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new text begin Subd. 8. new text end

new text begin User fees. new text end

new text begin As a condition of accepting a loan under this section, a borrower
must agree to charge a per hour user fee for use of an electric vehicle charging station funded
by the loan. A borrower must use at least 25 percent of the fees collected to repay the loan
and pay for expenses associated with operating and maintaining the electric vehicle charging
station funded by the loan.
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new text begin Subd. 9. new text end

new text begin Report to legislature. new text end

new text begin On or before March 15, 2020, and each March 15
thereafter, the commissioner must report to the chairs and ranking minority members of the
house of representatives and senate committees with jurisdiction over energy and
transportation policy and finance regarding the revolving loan program. The report must
include (1) a description of the projects and an account of loans made from the revolving
loan fund during the preceding calendar year, (2) the revolving loan fund balance, and (3)
an explanation of administrative expenses.
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new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
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Sec. 2. new text begin APPROPRIATION; ELECTRIC VEHICLE CHARGING STATION
REVOLVING LOAN PROGRAM.
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new text begin Notwithstanding Minnesota Statutes, section 116C.779, subdivision 1, paragraph (j),
$1,500,000 in fiscal year 2020 is appropriated from the renewable development account
under Minnesota Statutes, section 116C.779, to the commissioner of commerce for the
electric vehicle charging station revolving loan program under Minnesota Statutes, section
216C.45. This appropriation must be used only for loans made for electric vehicle charging
station projects in the service area of a public utility that owns a nuclear electric generating
plant in Minnesota. The commissioner may use up to three percent of this amount to
administer the program. This is a onetime appropriation and is available until expended.
new text end