California Assembly Bill AB2409 Amended / Bill

 BILL NUMBER: AB 2409AMENDED BILL TEXT AMENDED IN ASSEMBLY APRIL 18, 2012 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   technology  financing models  for financing   used in other states to finance  energy efficiency  improvements   technology deployments  and services that  maximizes   maximize  private sector investment  with minimal public financial investment.   in California. The bill would also authorize the commission to establish and consult with an investment advisory group consisting of private and public investors.  Vote: majority. Appropriation: no. Fiscal committee: 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   make recommendations based on  emerging  markets and   technology  financing models  used in other states  to  provide financing for   finance  energy efficiency  technology deployments   improvements  and services  that maximizes   with the goal of maximizing  private sector investment  with minimal public financial investment.   in California. In addition to collaborating with these entities, the commission may establish and consult with an investment advisory group consisting of private and public investors for purposes of understanding what private investors have   determined are the best models suited for helping California finance energy efficiency deployments.  The commission shall, at a minimum, examine all of the following: (a) Long-term  finance   financing  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)   (b)  Potential  financing models  for implementing shared savings agreements  between purchasers and sellers of energy e   fficiency technologies  .  (d) Potential for developing a market dedicated to extracting all of the financial values for energy efficiencies and energy management services.   (e)   (c)   Potential market development for   Potential financing models to finance  energy efficiency  financing   improvements  for state infrastructure  , such as building retrofits, as well as purchases of high-efficiency alternatives for equipment that consume energy   and equipment  .  (f)   (d)  Potential  market development for   financing models to finance  residential and business  retrofits, as well as purchases of high-efficiency alternatives for equipment that consumes energy   energy efficiency improvements  .