53A-20c-102. Energy Efficiency Fund -- Contents -- Use of fund monies.
(1) As used in this section:
(a) "Board" means the Board of the Utah Geological Survey.
(b) "Energy code" means the energy efficiency code adopted by the Division of
Occupational and Professional Licensing under Section 58-56-4.
(c) "Energy efficiency project" means:
(i) for existing buildings, a retrofit to improve energy efficiency; or
(ii) for new buildings, an enhancement to improve energy efficiency beyond the
minimum required by the energy code.
(d) "Fund" means the Energy Efficiency Fund created by this part.
(2) There is created a revolving loan fund known as the Energy Efficiency Fund.
(3) The fund shall consist of:
(a) monies appropriated to it by the Legislature;
(b) monies received for the repayment of loans made from the fund;
(c) monies made available to the state for energy efficiency from any source; and
(d) interest earned on the fund.
(4) (a) The board shall make loans from the fund only to school districts to finance
energy efficiency projects in school district buildings, including paying the costs of construction,
engineering, investigation, inspection, and other related expenses.
(b) The board may not:
(i) make loans from the fund to finance a school district's compliance with the energy
code in the construction of a new building;
(ii) make a loan from the fund with a term of less than two years or more than 12 years;
or
(iii) make loans from the fund to any entity other than a school district.
(5) (a) (i) Each school district seeking a loan shall submit an application to the board in
the form and containing the information that the board requires, which shall include the plans and
specifications for the proposed energy efficiency project.
(ii) In the application, the school district may request a loan to cover all or part of the
cost of an energy efficiency project.
(b) If an application is rejected, the board shall notify the applicant stating the reasons for
the rejection.
(6) (a) By following the procedures and requirements of Title 63G, Chapter 3, Utah
Administrative Rulemaking Act, the board shall make rules establishing criteria for:
(i) determining eligibility for loans; and
(ii) determining appropriate priorities among projects.
(b) In making rules governing determining priorities for eligible projects, the board may
consider:
(i) possible additional sources of revenue;
(ii) the feasibility and practicality of the project;
(iii) the energy savings attributable to an eligible energy efficiency project;
(iv) the annual energy cost savings attributable to an eligible energy efficiency project;
(v) the projected energy cost payback of an eligible energy efficiency project;
(vi) the financial need of the public facility owner;
(vii) the environmental and other benefits to the state and local community attributable to
an eligible energy efficiency project; and
(viii) the availability of federal funds for the project.
(7) (a) In approving a project, the board shall:
(i) review the loan application and the plans and specifications for the project;
(ii) determine whether or not to grant the loan by applying its eligibility criteria; and
(iii) if the loan is granted, prioritize the project by applying its priority criteria.
(b) The board may condition approval of a loan request and the availability of funds on
assurances from the school district that the board considers necessary to ensure that:
(i) the proceeds of the loan will be used to pay the cost of the project; and
(ii) the project will be completed.
(8) Employees of the state energy program shall serve as staff to the board when it
performs the duties established in this section.
Amended by Chapter 382, 2008 General Session
Download Code Section Zipped WordPerfect 53A20c010200.ZIP 3,685 Bytes
Sections in this Chapter|Chapters in this Title|All Titles|Legislative Home Page
Last revised: Thursday, May 28, 2009