00                            SENATE BILL NO. 150                                                                         
01 "An Act establishing an emerging energy technology fund."                                                               
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
03    * Section 1. AS 42.45 is amended by adding a new section to read:                                                  
04                   Article 7A. Emerging Energy Technology.                                                             
05            Sec. 42.45.375. Emerging energy technology fund. (a) The emerging energy                                   
06       technology fund is established. The fund consists of                                                              
07                 (1)  money appropriated to the fund by the legislature to provide grants                                
08       and loans for energy projects; and                                                                                
09                 (2)  gifts, bequests, contributions from other sources, and federal                                     
10       money appropriated to the fund.                                                                                   
11            (b)  The fund is not a dedicated fund.                                                                       
12            (c)  The fund shall be administered by the interdisciplinary research unit of the                            
13       arm of the College of Engineering and Mines of the University of Alaska known as the                              
14       Alaska Center for Energy and Power, whose mission is to research energy sources and                               
15       the way in which energy fits into the state's economic development, but the Alaska                                

01       Center for Energy and Power may contract for the investment of money appropriated                                 
02       to the fund but not disbursed for a grant or loan. The Alaska Center for Energy and                               
03       Power may make grants or loans from the fund to eligible applicants for research,                                 
04       development, or demonstration projects designed to                                                                
05                 (1)  test new energy technologies or methods of conserving energy; or                                   
06                 (2)  improve an existing energy technology.                                                             
07            (d)  In making grants and loans under this section, the Alaska Center for                                    
08       Energy and Power shall give priority to                                                                           
09                 (1)  Alaska residents, associations, organizations, or institutions;                                    
10                 (2)  projects that demonstrate partnership with the University of Alaska                                
11       or another Alaska postsecondary institution; and                                                                  
12                 (3)  projects supported by matching funds or in-kind partnerships.                                      
13            (e)  If the University of Alaska alters the status of the Alaska Center for Energy                           
14       and Power, the president of the University of Alaska shall promptly notify the revisor                            
15       of statutes and the presiding officer of each house of the state legislature of that                              
16       change.                                                                                                           
17            (f)  In this section,                                                                                        
18                 (1)  "eligible applicant" means                                                                         
19                      (A)  an electric utility holding a certificate of public                                           
20            convenience and necessity under AS 42.05;                                                                    
21                      (B)  an independent power producer; or                                                             
22                      (C)  a local government, or other governmental utility, including                                  
23            a tribal council or housing authority;                                                                       
24                 (2)  "energy technology" means technology that promotes, enhances, or                                   
25       expands the diversity of available energy supply sources or means of transmission,                                
26       increases energy efficiency, or reduces negative energy-related environmental effects;                            
27       "energy technology" includes technology related to renewable sources of energy,                                   
28       conservation of energy, enabling technologies, efficient and effective use of                                     
29       hydrocarbons, and integrated energy systems;                                                                      
30                 (3)  "fund" means the emerging energy technology fund.