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SF 3632

as introduced - 91st Legislature (2019 - 2020) Posted on 02/27/2020 03:05pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to energy; establishing a revolving loan fund for energy conservation in
state buildings; 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] STATE BUILDING 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 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 (1) that targets
consumer behavior, equipment, processes, or devices, and (2) whose implementation is
designed to result in a net reduction in energy use.
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) "State building" means a building owned by the state of Minnesota.
new text end

new text begin Subd. 2. new text end

new text begin Establishment. new text end

new text begin A state building energy conservation revolving loan fund is
established to make loans to state agencies to implement energy conservation improvements
in state buildings. The fund must be credited with (1) investment income, and (2) 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 state
building 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 project cost 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 project budget;
new text end

new text begin (5) calculations sufficient to demonstrate the proposed project's expected energy and
monetary savings;
new text end

new text begin (6) information demonstrating the agency'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 under this section must be made at or below market
interest rates, including zero interest loans, for a term that does not exceed 15 years.
new text end

new text begin (b) Payments of loan principal and interest must begin no later than one year after the
project is completed.
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 Notwithstanding Minnesota Statutes, section 116C.779, subdivision 1, paragraph (j),
$15,000,000 in fiscal year 2021 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 state agencies for energy conservation projects under
Minnesota Statutes, section 216C.372.
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