Bill Text: MI SB0852 | 2009-2010 | 95th Legislature | Introduced
Bill Title: Energy; alternative sources; renewable energy and energy efficiency grant and loan program; create, and establish restricted fund. Creates new act.
Spectrum: Partisan Bill (Republican 9-0)
Status: (Engrossed - Dead) 2009-10-14 - Referred To Committee On Energy And Technology [SB0852 Detail]
Download: Michigan-2009-SB0852-Introduced.html
SENATE BILL No. 852
September 21, 2009, Introduced by Senators BIRKHOLZ, HARDIMAN, PATTERSON, JANSEN, RICHARDVILLE, PAPPAGEORGE, GEORGE, VAN WOERKOM and ALLEN and referred to the Committee on Energy Policy and Public Utilities.
A bill to provide for loans, grants, and other assistance for
energy efficiency and renewable energy projects; to create a
restricted fund; and to provide for the powers and duties of
certain state and local governmental officers and entities.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 1. As used in this act:
(a) "Department" means the department of energy, labor, and
economic growth.
(b) "Fund" means the energy efficiency and renewable energy
revolving loan fund created in section 2.
Sec. 2. (1) The energy efficiency and renewable energy
revolving loan fund is created within the state treasury.
(2) The state treasurer may receive money or other assets from
any source for deposit into the fund. The state treasurer shall
direct the investment of the fund. The state treasurer shall credit
to the fund interest and earnings from fund investments.
(3) Money in the fund at the close of the fiscal year shall
remain in the fund and shall not lapse to the general fund.
(4) The department shall be the administrator of the fund for
auditing purposes.
(5) The department shall expend money from the fund, upon
appropriation, only to administer and operate a program to provide
loans, grants, and other forms of assistance to public or private
entities for energy efficiency and renewable energy projects. The
program shall be consistent with part D of title III of the energy
policy and conservation act, 42 USC 6321 to 6326, and other state
and federal law, as applicable. Projects eligible for assistance
from the program, the amount of assistance provided, and other
conditions shall be determined by the department.
(6) If program assistance under subsection (5) is in the form
of a loan, the loan shall be made through a loan agreement. A loan
agreement shall contain appropriate provisions relating to maturity
or length of the loan, repayment terms, state or local funding
requirements, and other provisions as are necessary to comply with
state and federal law.
