California Assembly Bill AB2409 Amended / Bill

 BILL NUMBER: AB 2409AMENDED BILL TEXT AMENDED IN ASSEMBLY MARCH 29, 2012 INTRODUCED BY Assembly Member Allen FEBRUARY 24, 2012 An act  to add Section 25228 to the Public Resources Code,  relating to energy efficiency. LEGISLATIVE COUNSEL'S DIGEST AB 2409, as amended, Allen. Energy efficiency.  Existing law requires the State Energy Resources and Conservation Commission to implement various programs to provide financial assistance to specified entities for energy efficiency improvements.   This bill would require the commission, in collaboration with specified entities, to review and develop emerging markets and financing models for financing energy efficiency improvements and services that maximizes private sector investment with minimal public financial investment.   Under existing law, the Public Utilities Commission has regulatory authority over public utilities. Existing law requires the State Energy Resources Conservation and Development Commission to adopt energy conservation standards to reduce the wasteful, uneconomic, inefficient, or unnecessary consumption of energy.   This bill would state the intent of the Legislature to enact legislation to create a task force to study the feasibility of creating a Sustainable Energy Utility for the purposes of expanding renewable energy development and improving energy efficiency programs and its further intent to enact legislation to require the task force to report its findings to the Legislature on or before January 1, 2014.  Vote: majority. Appropriation: no. Fiscal committee:  no   yes  . State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:  SECTION 1.   Section 25228 is added to the   Public Resources Code   , to read:   25228. The commission, in collaboration with the Public Utilities Commission, the Treasurer's office, the State Air Resources Board, and the California Infrastructure and Economic Development Bank, shall review and develop emerging markets and financing models to provide financing for energy efficiency improvements and services that maximizes private sector investment with minimal public financial investment. The commission shall, at a minimum, examine all of the following: (a) Long-term finance options, including, but not limited to, establishing, facilitating, or improving bonding authority to provide tax exempt bonds, private activity bonds, or private investment bonds. (b) Potential immediate and long-term financing capabilities for various financing models. (c) Potential for implementing shared savings agreements. (d) Potential for developing a market dedicated to extracting all of the financial values for energy efficiencies and energy management services. (e) Potential market development for energy efficiency financing for state infrastructure, such as building retrofits, as well as purchases of high-efficiency alternatives for equipment that consume energy. (f) Potential market development for residential and business retrofits, as well as purchases of high-efficiency alternatives for equipment that consumes energy.   SECTION 1.   It is the intent of the Legislature to enact legislation to create a task force to study the feasibility of creating a Sustainable Energy Utility for the purposes of expanding renewable energy development and improving energy efficiency programs. It is further the intent of the Legislature to enact legislation to require the task force to report its findings to the Legislature on or before January 1, 2014.