This text of Iowa § 476.46A (Energy infrastructure revolving loan program) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1.
a.An energy infrastructure revolving loan fund is created in the office of the treasurer
of state and shall be administered by the Iowa energy center established in section 15.120.
b.The fund may be administered as a revolving fund and may consist of any moneys
appropriated by the general assembly for purposes of this section and any other moneys that
are lawfully directed to the fund.
c.Moneys in the fund shall be used to provide financial assistance for the development
and construction of energy infrastructure, including projects that support electric or gas
generation transmission, storage, or distribution; electric grid modernization; energy-sector
workforce development; emergency preparedness for rural and underserved areas; the
expansion of biomass, biogas, and renewable natura
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1. a. An energy infrastructure revolving loan fund is created in the office of the treasurer
of state and shall be administered by the Iowa energy center established in section 15.120.
b. The fund may be administered as a revolving fund and may consist of any moneys
appropriated by the general assembly for purposes of this section and any other moneys that
are lawfully directed to the fund.
c. Moneys in the fund shall be used to provide financial assistance for the development
and construction of energy infrastructure, including projects that support electric or gas
generation transmission, storage, or distribution; electric grid modernization; energy-sector
workforce development; emergency preparedness for rural and underserved areas; the
expansion of biomass, biogas, and renewable natural gas; innovative technologies; and the
development of infrastructure for alternative fuel vehicles.
d. Notwithstanding section 8.33, moneys appropriated in this section that remain
unencumbered or unobligated at the close of the fiscal year shall not revert but shall remain
available for expenditure for the purposes designated until the close of the succeeding fiscal
year.
e. Notwithstandingsection12C.7,subsection2,interestorearningsonmoneysinthefund
shall be credited to the fund.
2. a. The Iowa energy center shall establish and administer an energy infrastructure
revolving loan program to encourage the development of energy infrastructure within the
state.
b. An individual, business, rural electric cooperative, or municipal utility located and
operating in this state shall be eligible for financial assistance under the program. With
the approval of the Iowa energy center governing board established under section 15.120,
subsection 2, the economic development authority shall determine the amount and the terms
of all financial assistance awarded to an individual, business, rural electric cooperative, or
municipal utility under the program. All agreements and administrative authority shall be
vested in the Iowa energy center governing board.
c. The economic development authority may use not more than five percent of the
moneys in the fund at the beginning of each fiscal year for purposes of administrative costs,
marketing, technical assistance, and other program support.
3. For the purposes of this section:
a. “Energy infrastructure” means land, buildings, physical plant and equipment, and
services directly related to the development of projects used for, or useful for, electricity or
gas generation, transmission, storage, or distribution.
b. “Financial assistance” means the same as defined in section 15.102.