Skip to main content Skip to office menu Skip to footer
Capital IconMinnesota Legislature

HF 977

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/10/2021 04:08pm

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

Bill Text Versions

Engrossments
Introduction Posted on 02/10/2021

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 2.12 2.13 2.14 2.15 2.16 2.17 2.18 2.19 2.20 2.21 2.22 2.23 2.24 2.25 2.26 2.27
2.28
3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9
3.10

A bill for an act
relating to capital investment; establishing a loan fund for solar energy systems in
state buildings; appropriating money; authorizing the sale and issuance of state
bonds; 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 the purposes of this section, the following terms have
the meanings given them.
new text end

new text begin (b) "Energy conservation improvement" means the predesign, design, acquisition,
construction, or installation of a solar energy system for a state building that:
new text end

new text begin (1) is incorporated into the building or is a permanent fixture;
new text end

new text begin (2) has a useful life of more than ten years; and
new text end

new text begin (3) is designed to result in a demand-side net reduction in energy use by the state
building's electrical, heating, ventilating, air-conditioning, or hot water systems that extends
the life or enhances the value of the state building.
new text end

new text begin (c) "State agency" means an agency in the executive branch of state government, but
does not include constitutional officers.
new text end

new text begin (d) "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 for the purpose of implementing energy
conservation improvements in state 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 shall 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 A state agency applying for an energy conservation improvement
loan must submit an application to the commissioner on a form, in the manner, and at the
time prescribed by the commissioner. An applicant must supply the following information:
new text end

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

new text begin (2) a description of the energy conservation improvements;
new text end

new text begin (3) a detailed budget for the project, including all sources and uses of money;
new text end

new text begin (4) calculations sufficient to demonstrate the expected energy and monetary savings that
will result from construction and installation of the energy conservation improvements;
new text end

new text begin (5) information demonstrating that extended life or increased value of the state building
will result from construction and installation of the energy conservation improvements;
new text end

new text begin (6) information demonstrating the state 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 state agency may not be awarded more than an aggregate
total of $......., whether for one or more projects or one or more loans under this section. A
loan may be for up to ....... percent of total project costs.
new text end

new text begin (b) A loan interest rate must be at one-half the rate the state pays in interest for the
various purpose bonds sold immediately preceding the issuance of the loan to the state
agency.
new text end

new text begin (c) A loan term must not exceed 15 years.
new text end

new text begin (d) Loan principal and interest payments must begin no later than one year after
completion of the project.
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; BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $16,000,000 is appropriated from the bond proceeds
fund to the commissioner of commerce to provide loans to state agencies for energy
conservation improvements under Minnesota Statutes, section 216C.372.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $16,000,000 in the manner, upon the terms, and with the effect
prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota
Constitution, article XI, sections 4 to 7.
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