The Senate this morning brought out of Senate Appropriations Committee their version of the Power Fund Bill, is was numbered and printed mid-afternoon, and brought up and deferred on the Senate floor moments ago: S.F. 599 Power Fund bill establishing the office of energy independence and the Iowa power. ‹ On the Senate Calendar 4/19/2007. EXPLANATION This bill creates the office of energy independence, the position of director of the office of energy independence, the Iowa power fund board, a due diligence committee, and the Iowa power fund in new Code chapter 469. Duties for the office, director, committee, and board are specified. Grants, loans, and investments made from the fund are subject to approval by the board. The bill provides that the Iowa power fund shall be used to further the goals of increasing the research, development, production, and use of biofuels and other sources of renewable energy, improve energy efficiency, and reduce greenhouse gas emissions, and shall encourage, support, and provide for research, development, commercialization, and the implementation of energy technologies and practices. Further, the technologies and practices are intended to reduce the state's dependence on foreign sources of energy and fossil fuels. The bill specifies that moneys appropriated to the fund or otherwise deposited into the fund shall be used to provide financial assistance to entities in this state conducting business, research, or programs to accelerate research and development, knowledge transfer, technology innovation, and improve economic competitiveness, and to increase the demand for and educate the public about technologies and approaches, all in furtherance of the goals established for the fund. Eligibility criteria for grants or loans from the fund, to be established by the director, are set forth. The bill appropriates $24,670,000 to the Iowa power fund from the general fund of the state for fiscal year 2006-2007, and $25 million annually for fiscal years 2008-2009, 2009-2010, and 2010-2011. The bill makes an allocation from the appropriated amounts of at least 10 percent of the moneys appropriated for energy planning, energy education, and energy efficiency. The bill also allocates on an annual basis $2.5 million to the department of economic development for deposit into the workforce training and economic development funds of the community colleges for use each year in the development and expansion of energy industry areas and for the department's north American industrial classification system for targeted industry areas. In a separate subchapter of new Code chapter 469, the bill authorizes the Iowa power fund board, with the assistance of the office of energy independence and other appropriate state agencies, to provide financial incentives and adopt necessary rules for biomass, biorefinery, renewable energy, and energy efficiency projects. The incentives and rules are primarily focused upon research, development, commercialization, and market development in connection with products from biorefineries and renewable energy products, and additionally implementation of technologies and practices that improve energy efficiency and public education efforts relating to energy efficiency projects. The bill provides authorization for the board, office, and other state agencies to cooperate with federal agencies and participate in federal biomass programs. The bill additionally modifies provisions of Code section 473.7 to facilitate assistance from the department of natural resources with the preparation of the Iowa energy independence plan. The bill adds educational programs and assessments of consumers' needs for information conducted pursuant to energy efficiency programs offered by electric and gas public utilities pursuant to Code section 476.6, provides that such programs and assessments need not be cost-effective, and specifies that energy efficiency programs offered by rate-regulated gas and electric utilities are subject to approval by the Iowa utilities board. The bill provides for the establishment of two energy efficiency studies relating to energy efficiency plans and programs offered by gas and electric utilities pursuant to Code section 476.6, and relating to consumer knowledge of energy efficiency and methods for increasing such knowledge, respectively. The bill takes effect upon enactment. ____________________________________________ Lyle Krewson 1725 S. 50th Street #602 West Des Moines, IA 50265 [log in to unmask] 515-238-7113 - Cel ____________________________________________ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - To unsubscribe from the IOWA-TOPICS list, send any message to: [log in to unmask] Check out our Listserv Lists support site for more information: http://www.sierraclub.org/lists/faq.asp To view the Sierra Club List Terms & Conditions, see: http://www.sierraclub.org/lists/terms.asp