Texas Senate Bill SB2029

Texas 2009 - 81st Regular

Caption

Relating to issuance of qualified energy conservation bonds.

Impact

The implementation of SB2029 is expected to positively influence state laws by reinforcing the state's commitment to energy conservation and environmentally sustainable practices. By facilitating the issuance of qualified energy conservation bonds, the bill provides a crucial tool for local governments and other entities to finance projects that promote energy efficiency. This could lead to broader adoption of green technologies and practices across Texas, fostering longer-term benefits for both the economy and the environment.

Summary

Senate Bill 2029 introduces the issuance of qualified energy conservation bonds in Texas, which are designed to fund projects aimed at energy efficiency and sustainability. The bill provides a framework for the Texas board to issue these bonds under the guidelines established by the federal Internal Revenue Code. This allows local and state governments to access funding for energy conservation initiatives that meet specific qualifications, potentially leading to reduced energy costs and improved environmental outcomes.

Contention

There are potential areas of contention regarding SB2029, particularly concerning the administration of the bond program. Stakeholders may express concerns about the fairness and transparency of the application process for these bonds, particularly regarding the first-come, first-served basis established in the bill. Additionally, the responsibilities assigned to the state board to adopt rules governing the program may lead to debates over the potential bureaucratic hurdles that could deter smaller municipalities from accessing these funds.