BILL NUMBER: AB 1131 INTRODUCED
BILL TEXT
INTRODUCED BY Assembly Member Skinner
FEBRUARY 22, 2013
An act to amend Sections 26073, 26080, and 26081 of the Public
Resources Code, relating to energy, and making an appropriation
therefor.
LEGISLATIVE COUNSEL'S DIGEST
AB 1131, as introduced, Skinner. Energy: renewable energy and
energy efficiency projects: financial assistance.
(1) Existing law authorizes local governments to assist property
owners to finance the installation of distributed generation
renewable energy sources, electric vehicle charging infrastructure,
or energy or water efficiency improvements through the issuance of
bonds that are secured by a voluntary contractual assessment on
property (PACE bonds). Existing law requires the California
Alternative Energy and Advanced Transportation Financing Authority to
develop and administer a program to reduce the overall costs to
property owners of PACE bonds by providing a reserve of no more than
10% of the initial principal amount of the PACE bonds. Existing law
requires the authority to administer a Clean Energy Upgrade Program
to reduce overall costs to property owners of a loan provided by a
financial institution to finance the installation of distributed
generation renewable energy sources, electric vehicle charging
infrastructure, or energy or water efficiency improvements that are
permanently fixed to real property by providing a reserve or other
financial assistance at a level to be determined by the State Energy
Resources Conservation and Development Commission and the authority.
Existing law, until January 1, 2015, appropriates up to $50,000,000
from the Renewable Resource Trust Fund for the above purposes.
Existing law requires the authority, until January 1, 2015, to submit
a report to the Legislature regarding the implementation of the
above programs.
This bill would extend that appropriation and the reporting
requirement to January 1, 2017.
(2) Existing law requires the authority, in evaluating the
eligibility of a loan program for the Clean Energy Upgrade Program,
to consider, among other things, whether the loans made under the
loan program are for less than 10% of the value of the property.
This bill would delete that consideration. By expanding the
eligibility of loan programs under the Clean Energy Upgrade Program,
this bill would make an appropriation.
Vote: 2/3. Appropriation: yes. Fiscal committee: yes.
State-mandated local program: no.
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. Section 26073 of the Public Resources Code is amended
to read:
26073. (a) In evaluating eligibility, the authority shall
consider whether the applicant's loan program includes the following
conditions:
(1) Loan recipients are legal owners of underlying property.
(2) Loan recipients are current on mortgage and property tax
payments.
(3) Loan recipients are not in default or in bankruptcy
proceedings.
(4) Loans are for less than 10 percent of the value of the
property.
(5)
(4) The program offers financing for energy
and water efficiency improvements.
(6)
(5) Improvements financed by the program
follow applicable standards of energy efficiency retrofit work,
including any guidelines adopted by the State Energy Resources
Conservation and Development Commission.
(b) In evaluating an application, the authority shall consider all
of the following factors:
(1) The use by the loan program of best practices, adopted by the
authority, to qualify eligible properties for participation in
underwriting the loan program.
(2) The cost efficiency of the applicant's loan program.
(3) The projected number of jobs created by the loan program.
(4) The applicant's loan program requirements for quality
assurance and consumer protection, as related to achieving efficiency
and clean energy production, in accordance with the standards
developed pursuant to subdivision (b) of Section 26072.
(5) The mechanisms by which savings produced by this program are
passed on to the property owners.
(6) Any other factors deemed appropriate by the authority.
(c) The authority may approve a loan program that offers financing
for electric vehicle charging infrastructure if the electric vehicle
charging infrastructure is part of a project to install energy
efficiency improvements and distributed generation renewable energy
resources and is designed so that the project does not increase peak
energy demand.
SEC. 2. Section 26080 of the Public Resources Code is amended to
read:
26080. (a) Until January 1, 2015 2017
, an amount of up to fifty million dollars ($50,000,000) from
the Renewable Resource Trust Fund, established pursuant to Section
25751, is hereby appropriated to the authority for the purposes of
this chapter. The moneys appropriated shall remain in the Renewable
Resource Trust Fund until the funds are needed by the authority
pursuant to this chapter.
(b) Of the moneys appropriated in subdivision (a), up to five
hundred fifty thousand dollars ($550,000) may be expended by the
authority for the initial administrative costs in implementing this
chapter.
(c) All repayments of moneys disbursed pursuant to this chapter
shall be deposited into the Renewable Resource Trust Fund.
SEC. 3. Section 26081 of the Public Resources Code is amended to
read:
26081. (a) On March 31, 2011, and annually thereafter, the
authority shall submit to the Legislature a report pursuant to
Section 9795 of the Government Code on all of the following:
(1) The status of the account.
(2) A summary of the PACE bonds that received assistance pursuant
to Article 2 (commencing with Section 26060) and a summary of the
loans that received assistance pursuant to Article 3 (commencing with
Section 26070).
(3) A summary of the benefits provided by this division, including
reduced interest rates on the PACE bonds or on loans receiving
assistance pursuant to this division.
(4) The number of jobs created by the PACE programs or loans that
received assistance pursuant to this chapter.
(5) Information on energy and water savings resulting from the
PACE programs or loans that received assistance pursuant to this
chapter.
(6) Other information deemed appropriate by the authority.
(b) This section shall remain in effect only until January 1,
2015 2017 , and as of that date is
repealed, unless a later enacted statute, that is enacted before
January 1, 2015 2017 , deletes or
extends that date.