HB-5375, As Passed Senate, December 17, 2009
September 16, 2009, Introduced by Reps. Scripps, Huckleberry, Terry Brown, Opsommer, Lisa Brown, Geiss, Slavens, Clemente, Roberts, Smith, Mayes, Polidori, Gonzales, Warren, Barnett, Lipton, Horn, Crawford, Lindberg, Proos, Marleau, Walsh, Valentine, Melton, Wayne Schmidt and Ebli and referred to the Committee on Energy and Technology.
A bill to provide for loans, grants, and other assistance for
energy efficiency and renewable energy projects; to create a
restricted fund; and to provide for the powers and duties of
certain state and local governmental officers and entities.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 1. As used in this act:
(a) "Department" means the department of energy, labor, and
economic growth.
(b) "Fund" means the energy efficiency and renewable energy
revolving loan fund created in section 2.
Sec. 2. (1) The energy efficiency and renewable energy
revolving loan fund is created within the state treasury.
(2) The state treasurer may receive money or other assets from
House Bill No. 5375 as amended October 14, 2009
any source for deposit into the fund. The state treasurer shall
direct the investment of the fund. The state treasurer shall credit
to the fund interest and earnings from fund investments.
(3) Money in the fund at the close of the fiscal year shall
remain in the fund and shall not lapse to the general fund.
(4) The department shall be the administrator of the fund for
auditing purposes.
(5) The department shall expend money from the fund, upon
appropriation, only to administer and operate a program to provide
loans, grants, and other forms of assistance to public or private
entities for energy efficiency and renewable energy projects. The
program shall be consistent with part D of title III of the energy
policy and conservation act, 42 USC 6321 to 6326, and other state
and federal law, as applicable. Projects eligible for assistance
from the program, the amount of assistance provided, and other
conditions shall be determined by the department. [This subsection is
subject to section 3.]
(6) If program assistance under subsection (5) is in the form
of a loan, the loan shall be made through a loan agreement. A loan
agreement shall contain appropriate provisions relating to maturity
or length of the loan, repayment terms, state or local funding
requirements, and other provisions as are necessary to comply with
state and federal law.
[Sec. 3. If the department provides a grant, loan, or other form of
assistance for an energy efficiency or renewable energy project with money received under the American recovery and reinvestment act of 2009, Public Law 111-5, including, but not limited to, money in the fund, the department shall not impose a condition on the assistance that is more restrictive than required under the American recovery and reinvestment act of 2009, Public Law 111-5, other than a reasonable administrative condition.]