Bill Text: CA SB679 | 2011-2012 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Energy: energy conservation projects: financial

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2011-10-08 - Chaptered by Secretary of State. Chapter 597, Statutes of 2011. [SB679 Detail]

Download: California-2011-SB679-Introduced.html

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BILL NUMBER: SB 679	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Pavley

                        FEBRUARY 18, 2011

   An act to amend Section 26140 of, and to add Section 25416.5 to,
the Public Resources Code, relating to energy, and making an
appropriation therefor.



	LEGISLATIVE COUNSEL'S DIGEST


   SB 679, as introduced, Pavley. Energy: energy conservation
projects: financial assistance: local governments and public
institutions.
   The Energy Conservation Assistance Act of 1979 requires, until
January 1, 2013, the State Energy Resources Conservation and
Development Commission to provide loans to eligible institutions,
including local governments and public institutions, to finance all
or a portion of the costs incurred in implementing projects related
to energy conservation.
   Existing law appropriated $50,000,000 from the Renewable Resource
Trust Fund to the California Alternative Energy and Advanced
Transportation Financing Authority to implement the Property Assessed
Clean Energy (PACE) Reserve program, which provides for the issuance
of bonds secured by voluntary contractual assessments on property to
finance the installation of distributed generation renewable energy
sources, electric vehicle charging infrastructure, or energy or water
efficiency improvements.
   This bill would appropriate the unencumbered balance of the
$50,000,000 that was appropriated to the authority to the Energy
Conservation Assistance Account, a continuously appropriated account,
to be expended by the commission for the purposes of providing
low-interest energy efficiency revolving loans to local governments
and public institutions, thereby making an appropriation.
   Vote: 2/3. Appropriation: yes. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 25416.5 is added to the Public Resources Code,
to read:
   25416.5.  The authority shall expend the money appropriated to the
account pursuant to subdivision (d) of Section 26140 for the
purposes of providing low-interest energy efficiency revolving loans
pursuant to this chapter for local governments and public
institutions as defined in paragraph (1) of subdivision (n) of
Section 25411.
  SEC. 2.  Section 26140 of the Public Resources Code is amended to
read:
   26140.  (a) Until January 1, 2015, an amount of up to fifty
million dollars ($50,000,000) from the Renewable Resource Trust Fund,
established pursuant to Section 25751, is hereby appropriated to the
authority for the purposes of this division. The moneys appropriated
shall remain in the Renewable Resource Trust Fund until the funds
are needed by the authority pursuant to this division.
   (b) Of the moneys appropriated in subdivision (a), up to three
hundred thousand dollars ($300,000) may be expended by the authority
for the initial administrative costs in implementing this division.
   (c)  All repayments   Repayments  
 of moneys disbursed pursuant to this division shall be
deposited into the Renewable Resource Trust Fund. 
   (d) Notwithstanding any other law, the unencumbered balance of the
fifty million dollars ($50,000,000), which was appropriated to the
authority pursuant to subdivision (a) and is in the Renewable
Resource Trust Fund, is hereby appropriated to the Energy
Conservation Assistance Account established pursuant to Section
25416.