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AB-84 Energy efficiency improvements.(2001-2002)

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AB84:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2001–2002 2nd Ext.

Assembly Bill
No. 84

Introduced  by  Assembly Member Strom-Martin

July 17, 2001

An act to amend Sections 32932, 32942, 32952, 32955, and 32960 of, and to repeal Section 32909 of, the Financial Code, relating to energy efficiency, and declaring the urgency thereof, to take effect immediately.


LEGISLATIVE COUNSEL'S DIGEST


AB 84, as introduced, Strom-Martin. Energy efficiency improvements.
Existing law creates the nonprofit State Assistance Fund for Enterprise, Business and Industrial Development Corporation. Among the activities of the corporation were the establishment and operation of an energy efficiency improvements loan fund to assist small businesses in promoting energy efficiency, that became inoperative on July 1, 2001, and will be repealed on January 1, 2002. Under existing law, loans extended under the energy efficiency improvements program were for a term not exceeding 5 years and were at a fixed rate of interest not less than 5 percentage points below the prevailing prime rate.
This bill would extend the operation of the energy efficiency improvements program until July 1, 2011, and would repeal the program on January 1, 2012. This bill would further provide that the term of a loan made under the program may not exceed 7 years. This bill would make related and conforming changes.
The bill would declare it is to take effect immediately as an urgency statute.
Vote: 2/3   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 32909 of the Financial Code is repealed.
32909.“Energy Extension Service” means the Energy Extension Service established in the Governor’s office.

SEC. 2.

 Section 32932 of the Financial Code is amended to read:

32932.
 Loans made under this chapter to small businesses shall be at a fixed rate of interest for a term not exceeding five seven years. The rate of interest shall not be less than five percentage points below the prevailing published New York prime interest rate.

SEC. 3.

 Section 32942 of the Financial Code is amended to read:

32942.
 Loans shall be approved according to criteria established by a credit committee, chaired by the chief financial officer of the corporation or that officer’s designee. The other members of the committee shall be the member of the board appointed by the Energy Commission and the Director of the Energy Extension Service president, or their designees.

SEC. 4.

 Section 32952 of the Financial Code is amended to read:

32952.
 The Energy Extension Service corporation shall develop a program to assist small business owners in reducing their energy costs by providing technical assistance and information through local chambers of commerce and business organizations.

SEC. 5.

 Section 32955 of the Financial Code is amended to read:

32955.
 The corporation, California and the Energy Commission,and the Energy Extension Service shall jointly file a report every two years to the Legislature summarizing program activities under this chapter. The first report shall be filed on or before January 1, 1988.

SEC. 6.

 Section 32960 of the Financial Code is amended to read:

32960.
 This chapter shall become inoperative on July 1, 2001 2011, and, as of January 1, 2002 2012, is repealed, unless a later enacted statute, which becomes effective on or that is enacted before January 1, 2002 2012, deletes or extends the dates on which it becomes inoperative and is repealed.

SEC. 7.

 This act is an urgency statute necessary for the immediate preservation of the public peace, health, or safety within the meaning of Article IV of the Constitution and shall go into immediate effect. The facts constituting the necessity are:
In order to ensure that financial assistance necessary to enable small businesses to promote energy efficiency continues without disruption, it is necessary that this act take effect immediately.