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