SB 150: "An Act establishing an emerging energy technology fund."

00 SENATE BILL NO. 150 01 "An Act establishing an emerging energy technology fund." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 42.45 is amended by adding a new section to read: 04 Article 7A. Emerging Energy Technology. 05 Sec. 42.45.375. Emerging energy technology fund. (a) The emerging energy 06 technology fund is established. The fund consists of 07 (1) money appropriated to the fund by the legislature to provide grants 08 and loans for energy projects; and 09 (2) gifts, bequests, contributions from other sources, and federal 10 money appropriated to the fund. 11 (b) The fund is not a dedicated fund. 12 (c) The fund shall be administered by the interdisciplinary research unit of the 13 arm of the College of Engineering and Mines of the University of Alaska known as the 14 Alaska Center for Energy and Power, whose mission is to research energy sources and 15 the way in which energy fits into the state's economic development, but the Alaska

01 Center for Energy and Power may contract for the investment of money appropriated 02 to the fund but not disbursed for a grant or loan. The Alaska Center for Energy and 03 Power may make grants or loans from the fund to eligible applicants for research, 04 development, or demonstration projects designed to 05 (1) test new energy technologies or methods of conserving energy; or 06 (2) improve an existing energy technology. 07 (d) In making grants and loans under this section, the Alaska Center for 08 Energy and Power shall give priority to 09 (1) Alaska residents, associations, organizations, or institutions; 10 (2) projects that demonstrate partnership with the University of Alaska 11 or another Alaska postsecondary institution; and 12 (3) projects supported by matching funds or in-kind partnerships. 13 (e) If the University of Alaska alters the status of the Alaska Center for Energy 14 and Power, the president of the University of Alaska shall promptly notify the revisor 15 of statutes and the presiding officer of each house of the state legislature of that 16 change. 17 (f) In this section, 18 (1) "eligible applicant" means 19 (A) an electric utility holding a certificate of public 20 convenience and necessity under AS 42.05; 21 (B) an independent power producer; or 22 (C) a local government, or other governmental utility, including 23 a tribal council or housing authority; 24 (2) "energy technology" means technology that promotes, enhances, or 25 expands the diversity of available energy supply sources or means of transmission, 26 increases energy efficiency, or reduces negative energy-related environmental effects; 27 "energy technology" includes technology related to renewable sources of energy, 28 conservation of energy, enabling technologies, efficient and effective use of 29 hydrocarbons, and integrated energy systems; 30 (3) "fund" means the emerging energy technology fund.