| 1 | 1 | | 81R4123 KFF-D |
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| 2 | 2 | | By: Ellis S.B. No. 975 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to a loan program to encourage the use of renewable energy |
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| 8 | 8 | | technology and the making of energy efficiency improvements; |
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| 9 | 9 | | providing for the issuance of bonds. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Chapter 447, Government Code, is amended by |
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| 12 | 12 | | adding Section 447.014 to read as follows: |
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| 13 | 13 | | Sec. 447.014. LOAN PROGRAM TO PROMOTE RENEWABLE ENERGY |
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| 14 | 14 | | TECHNOLOGY AND ENERGY EFFICIENCY IMPROVEMENTS. (a) In this |
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| 15 | 15 | | section: |
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| 16 | 16 | | (1) "Energy efficiency" means an improvement that is |
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| 17 | 17 | | aimed at reducing the rate at which electric energy is used by |
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| 18 | 18 | | equipment or processes and may be achieved by: |
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| 19 | 19 | | (A) substituting more advanced equipment to |
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| 20 | 20 | | produce the same level of end-use services with less electricity; |
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| 21 | 21 | | (B) adopting technology and processes that |
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| 22 | 22 | | reduce heat or other energy losses; or |
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| 23 | 23 | | (C) reorganizing processes to make use of waste |
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| 24 | 24 | | heat. |
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| 25 | 25 | | (2) "Renewable energy technology" has the meaning |
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| 26 | 26 | | assigned by Section 39.904(d), Utilities Code. |
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| 27 | 27 | | (b) The state energy conservation office shall establish |
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| 28 | 28 | | and administer a program to make and guarantee loans to business |
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| 29 | 29 | | entities, state agencies, institutions of higher education, and |
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| 30 | 30 | | political subdivisions of this state for renewable energy |
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| 31 | 31 | | technology uses or the making of energy efficiency improvements to |
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| 32 | 32 | | buildings or facilities owned or operated by the entities. |
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| 33 | 33 | | (c) The Texas Public Finance Authority shall issue general |
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| 34 | 34 | | obligation bonds in an aggregate amount not to exceed $1 billion as |
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| 35 | 35 | | authorized by Section 49-q, Article III, Texas Constitution, for |
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| 36 | 36 | | the purposes of the program. |
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| 37 | 37 | | (d) The program may be funded by: |
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| 38 | 38 | | (1) the proceeds of bonds issued under Subsection (c); |
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| 39 | 39 | | or |
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| 40 | 40 | | (2) gifts, grants, and donations made for the purposes |
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| 41 | 41 | | of the program. |
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| 42 | 42 | | (e) The comptroller may adopt rules to implement this |
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| 43 | 43 | | section. |
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| 44 | 44 | | SECTION 2. The state energy conservation office shall |
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| 45 | 45 | | establish a program under Section 447.014, Government Code, as |
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| 46 | 46 | | added by this Act, not later than January 1, 2010. |
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| 47 | 47 | | SECTION 3. This Act takes effect only if the constitutional |
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| 48 | 48 | | amendment proposed by the 81st Legislature, Regular Session, 2009, |
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| 49 | 49 | | authorizing the issuance of state general obligation bonds to |
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| 50 | 50 | | stimulate economic development by providing and guaranteeing loans |
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| 51 | 51 | | to promote the use of renewable energy technology and the making of |
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| 52 | 52 | | energy efficiency improvements is approved by the voters. If that |
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| 53 | 53 | | amendment is not approved by the voters, this Act has no effect. |
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