00 HOUSE BILL NO. 334
01 "An Act allowing a public utility to bill and collect certain payments for energy
02 efficiency loans made by a third-party financial institution; relating to the duties of the
03 Alaska Housing Finance Corporation; and providing for an effective date."
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
05 * Section 1. AS 42.05 is amended by adding a new section to article 4 to read:
06 Sec. 42.05.445. Utility bill loan repayment. (a) The commission shall allow a
07 public utility that furnishes, by transmission or distribution, petroleum, petroleum
08 products, natural or manufactured gas, or electrical service to the public for
09 consumption to enter into an agreement with a financial institution at the request of a
10 borrower for the purpose of allowing the utility to add, as a separate charge, an
11 installment payment of a loan made in accordance with this section onto the utility bill
12 of a borrower who is also a customer of the utility. The public utility may also add, as
13 a separate charge, the cost of administering the loan.
14 (b) To qualify for the loan repayment method established under (a) of this
01 section, a borrower shall obtain an energy audit performed by an energy rater
02 approved under regulations adopted by the Alaska Housing Finance Corporation. The
03 cost of the audit shall be borne by the borrower. The energy rater shall, under
04 regulations adopted by the Alaska Housing Finance Corporation, perform an on-site
05 inspection of the home and estimate the cost of
06 (1) increasing the energy efficiency of a borrower's home or business;
08 (2) replacing an existing appliance in the borrower's home or business
09 with an appliance that consumes less energy, as determined by the Federal Trade
10 Commission Appliance EnergyGuide Label rating.
11 (c) A financial institution making a loan using the repayment method
12 established under this section shall require the borrower to certify that the entire loan
13 amount will be used to
14 (1) increase energy efficiency in the borrower's home or business; or
15 (2) replace an existing appliance in the borrower's home or business
16 with an appliance that consumes less energy, as determined by the Federal Trade
17 Commission Appliance EnergyGuide Label rating.
18 * Sec. 2. This Act takes effect January 1, 2013.