HB 239: "An Act creating a diesel plant energy efficiency loan and grant fund."
00 HOUSE BILL NO. 239 01 "An Act creating a diesel plant energy efficiency loan and grant 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 Sec. 42.45.035. Diesel plant energy efficiency loan and grant fund. (a) The 05 diesel plant energy efficiency loan and grant fund is established in the authority. The 06 fund consists of 07 (1) appropriations made to the fund; and 08 (2) gifts, bequests, contributions from other sources, and federal 09 money appropriated to the fund. 10 (b) The authority may make loans or grants from the fund to a diesel plant that 11 serves a municipality or unincorporated community with a population of less than 12 7,500 for energy efficiency upgrades to the plant. 13 (c) The authority may only consider loan or grant applications under this 14 section for projects that will achieve a cost savings because of energy efficiency 15 upgrades in excess of the amount of the loan or grant received within 15 years after
01 the date the loan or grant was made. The authority shall give priority to loan or grant 02 applicants that propose the shortest amount of time for achieving cost savings because 03 of energy efficiency upgrades in excess of the amount of the grant or loan received. 04 (d) The authority shall adopt regulations necessary to carry out the provisions 05 of this section.