HI HR164

Requests the Department of Business, Economic Development, and Tourism and the Department of Budget and Finance to establish a task force to study and make recommendations for creating a Clean Energy Bond Loan Program similar to Property Assessed Clean Energy (PACE) programs.

Task force should examine the feasibility of creating a Hawaii Clean Energy Bond Loan Revolving Fund comprised of revenue bond proceeds, loan repayments, and other moneys to fund residential and commercial property owner loans for energy efficiency improvements and renewable energy systems.

Task force must consider loan eligibility processes, interest rates and repayment terms, coordination with counties for property tax assessment-based repayment, lien priority relative to mortgages, and whether to consolidate administration with existing state loan programs.

Task force membership must include representatives from state departments (Business/Economic Development/Tourism, Budget and Finance, Commerce and Consumer Affairs), Hawaii State Energy Office, all four counties, and environmental organizations (Blue Planet Foundation, Hawaii Solar Energy Association, U.S. Green Building Council Hawaii Chapter).

Requires submission of a task force report with findings and recommendations, including proposed legislation, to the Legislature no later than twenty days before the 2013 regular session convenes.