Bill Text: OR SB354 | 2013 | Regular Session | Introduced

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Bill Title: Relating to wave energy transmission; declaring an emergency.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-07-08 - In committee upon adjournment. [SB354 Detail]

Download: Oregon-2013-SB354-Introduced.html

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     77th OREGON LEGISLATIVE ASSEMBLY--2013 Regular Session

NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .

LC 1644

                         Senate Bill 354

Sponsored by Senator ROBLAN (Presession filed.)

                             SUMMARY

The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.

  Authorizes State Treasurer to issue Article XI-D general
obligation bonds for development of transmission capacity for
wave energy.
  Declares emergency, effective July 1, 2013.

                        A BILL FOR AN ACT
Relating to wave energy transmission; and declaring an emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + (1) Notwithstanding ORS 286A.712 (2)(b), in
addition to and not in lieu of any authorization to issue general
obligation bonds under ORS 286A.035, in the biennium beginning
July 1, 2013, the State Treasurer may issue Article XI-D bonds
in:
  (a) An amount that provides $25 million in net proceeds, plus
an amount determined by the State Treasurer to pay estimated
bond-related costs.
  (b) The manner provided by ORS 286A.710 to 286A.720.
  (2) Subject to the standards applicable to use of moneys
deposited in the Renewable Energy Fund established under ORS
286A.718, the State Department of Energy:
  (a) Shall use the net proceeds of bonds issued under this
section for projects that develop transmission capacity for wave
energy between buoys deployed at the point of origin or
generation of wave energy and transfer stations used to further
transmit or distribute the wave energy; and
  (b) May establish user fees or charges for the use of
transmission facilities financed, in whole or in part, with the
net proceeds of Article XI-D bonds issued pursuant to this
section. + }
  SECTION 2.  { + This 2013 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2013 Act takes effect on July 1,
2013. + }
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