SB14-011 Summary

• Renames the Colorado Renewable Energy Authority to the Colorado Energy Research Authority and changes focus from "renewable" to "clean" energy sources.

• Expands the authority's board from one appointed member to three appointed members (plus four ex officio members from Colorado School of Mines, Colorado State University, University of Colorado at Boulder, and National Renewable Energy Laboratory).

• Creates the Energy Research Cash Fund with $1 million transferred on July 1, 2014 and July 1, 2015, to provide state matching funds for federal and private energy research funding at the Colorado Energy Research Collaboratory institutions.

• Requires the Colorado Office of Economic Development to distribute matching funds only when collaboratory institutions receive equal or greater federal or private funding, with up to 5% of fund moneys available for administrative expenses.

• Establishes reporting requirements to legislative committees beginning September 1, 2014, detailing funded projects, amounts distributed, results achieved, and total federal and private funds leveraged; both the fund and related sections expire July 1, 2020.