1.1 	A bill for an act
1.2 	relating to utilities; modifying the term of
1.3 	guaranteed savings lease purchase contracts; amending
1.4 	Minnesota Statutes 2004, section 16C.144, subdivision
1.5 	3.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. Minnesota Statutes 2004, section 16C.144,
1.8 	subdivision 3, is amended to read:
1.9 		Subd. 3.Lease purchase contract.  The commissioner may
1.10 	enter into a lease purchase agreement with any party for the
1.11 	implementation of utility cost-savings measures in accordance
1.12 	with an engineering report.  The implementation costs of the
1.13 	utility cost-savings measures recommended in the engineering
1.14 	report shall not exceed the amount to be saved in utility and
1.15 	operation and maintenance costs over the term of the lease
1.16 	purchase agreement.  The term of the lease purchase agreement
1.17 	shall not exceed ten 15 years.  The lease is assignable in
1.18 	accordance with terms approved by the commissioner of finance.