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