SB 207: "An Act establishing the electric vehicle infrastructure fund in the Department of Commerce, Community, and Economic Development; relating to grants and loans made from the electric vehicle infrastructure fund; and providing for an effective date."
00 SENATE BILL NO. 207 01 "An Act establishing the electric vehicle infrastructure fund in the Department of 02 Commerce, Community, and Economic Development; relating to grants and loans made 03 from the electric vehicle infrastructure fund; and providing for an effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 44.33 is amended by adding new sections to read: 06 Article 10A. Electric Vehicle Infrastructure Fund. 07 Sec. 44.33.700. Electric vehicle infrastructure fund. (a) The electric vehicle 08 infrastructure fund is created in the Department of Commerce, Community, and 09 Economic Development. 10 (b) The electric vehicle infrastructure fund consists of appropriations to the 11 fund, including 12 (1) money received by gift, devise, bequest, or donation to the fund; 13 (2) principal and interest payments or other income earned on loans, 14 asset sales, and investments of the fund;
01 (3) money chargeable to principal or interest that is collected through 02 liquidation by foreclosure or other process on loans made under AS 44.33.700 - 03 44.33.730. 04 (c) Nothing in AS 44.33.700 - 44.33.730 creates a dedicated fund. 05 Sec. 44.33.705. Powers and duties of the department. The department may 06 (1) make grants to eligible applicants under AS 44.33.710(a) and make 07 loans to eligible applicants under AS 44.33.710(b) for the purpose of installing electric 08 vehicle charging stations in the state; 09 (2) receive, take, hold, and administer any appropriation, gift, grant, 10 bequest, devise, or donation of money for the fund; 11 (3) establish amortization plans for repayment of loans, including 12 extensions of the loan terms; 13 (4) allow an assumption of a loan if the applicant meets the 14 requirements established under this section; 15 (5) establish the rate of interest for loans consistent with law; 16 (6) charge and collect fees for services provided under AS 44.33.700 - 17 44.33.730; 18 (7) use money in the fund to pay for costs of administering 19 AS 44.33.700 - 44.33.730, including advertising the availability of grants and loans 20 from the fund; 21 (8) adopt regulations under AS 44.62 (Administrative Procedure Act) 22 necessary to carry out the provisions of AS 44.33.700 - 44.33.730, including 23 regulations to establish reasonable fees for services provided; 24 (9) designate agents and delegate powers to the agents as necessary. 25 Sec. 44.33.710. Eligibility. (a) To be eligible for a grant from the fund, an 26 applicant must be a state agency, municipality, federally recognized tribe, or nonprofit 27 organization. 28 (b) To be eligible for a loan from the fund, an applicant must be an individual, 29 corporation, partnership, limited liability corporation, limited liability partnership, 30 limited liability company, or joint venture. 31 (c) In making grants and loans under AS 44.33.700 – 44.33.730, the
01 department shall prioritize the installation of charging stations that will be available 02 for public use and shall ensure, to the greatest extent possible, that charging stations 03 are geographically distributed across the state to increase the number of communities 04 that have access to charging stations. 05 (d) After consultation with the Department of Transportation and Public 06 Facilities, the Department of Commerce, Community, and Economic Development 07 shall establish by regulation the standards for electric vehicle charging station 08 equipment eligible for grants and loans. 09 Sec. 44.33.715. Limitations on loans. A loan established under AS 44.33.700 10 - 44.33.730 11 (1) may not exceed a term of 10 years, except for extensions under 12 AS 44.33.705; 13 (2) may not bear interest less than four percent a year; 14 (3) must be secured by collateral acceptable to the department; and 15 (4) may not exceed 80 percent of the cost of the electric vehicle 16 charging station equipment purchased with the proceeds of the loan. 17 Sec. 44.33.720. Special account established. (a) The foreclosure expense 18 account is established as a special account within the fund. 19 (b) The department may expend money credited to the foreclosure expense 20 account when necessary protect to the state's security interest in collateral on loans 21 made under AS 44.33.700 - 44.33.730 or to defray expenses incurred during 22 foreclosure proceedings after a default by an obligor. 23 Sec. 44.33.725. Disposal of property acquired by default or foreclosure. 24 The department shall dispose of property acquired through default or foreclosure of a 25 loan made under AS 44.33.700 - 44.33.730. Disposal must be made in a manner that 26 serves the best interest of the state and may include the amortization of payments over 27 a term of years. 28 Sec. 44.33.730. Definitions. In AS 44.33.700 - 44.33.730, 29 (1) "department" means the Department of Commerce, Community, 30 and Economic Development; 31 (2) "fund" means the electric vehicle infrastructure fund established in
01 AS 44.33.700. 02 * Sec. 2. This Act takes effect July 1, 2020.