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MN HF320
Bill
Status
2/4/2013
Primary Sponsor
Jay McNamar
Click for details
AI Summary
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Establishes a school energy conservation revolving loan program administered by the commissioner of commerce to provide loans to school districts for energy improvement capital projects.
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Permits school districts to repay loans made under the new program from levies under section 123B.53 without voter approval, and amends existing law to allow this for loans approved after March 1, 1998.
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Requires school district loan recipients to provide matching funds equal to at least 50% of total project costs, with loan repayment terms not to exceed 20 years at market rates or below.
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Authorizes the commissioner of management and budget to sell and issue state general obligation bonds in an unspecified amount to fund the revolving loan program through the bond proceeds fund.
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Requires the commissioner of commerce to submit biennial reports by February 1 detailing financed projects, loan amounts, energy savings, emissions reductions, and loan demand to legislative committees overseeing energy policy, education finance, and capital investment.
Legislative Description
School energy conservation revolving loan program established, school districts permitted to repay energy conservation loans from levies made without voter approval, funding provided, bonds issued, and money appropriated.
Last Action
Committee report, to pass and re-refer to Education Finance
3/6/2013