Texas Senate Bill SB975

Texas 2009 - 81st Regular

Caption

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.

Impact

The bill mandates the Texas Public Finance Authority to issue general obligation bonds, not exceeding $1 billion, to support the operational costs of this loan program. These funds will be sourced from bond proceeds as well as gifts, grants, and donations aimed at promoting the use of renewable technologies. The legislation is designed not only to encourage investments in energy-efficient practices but also aims to stimulate economic growth by fostering green job creation through the funding of viable projects.

Summary

SB975 is a legislative measure aimed at facilitating the adoption of renewable energy technologies and enhancing energy efficiency improvements across various sectors in Texas. The bill proposes the establishment of a loan program administered by the state energy conservation office, which will provide loans and guarantees primarily to business entities, state agencies, institutions of higher education, and political subdivisions. This initiative underscores a commitment to promoting sustainable practices and reducing energy consumption through innovative solutions.

Contention

Notably, the bill includes a stipulation that its effectiveness is contingent upon the approval of a constitutional amendment enabling the issuance of these bonds. This requirement may elicit debate among legislators regarding state fiscal responsibility and priorities. Critics could argue about the implications of state borrowing, while supporters might emphasize the long-term benefits of transitioning to renewable energy and the potential to reduce reliance on fossil fuels.