63A-5b-1003. State Facility Energy Efficiency Fund — Contents — Use of fund money.
| (1) |
There is created a revolving loan fund known as the “State Facility Energy Efficiency Fund.” |
Terms Used In Utah Code 63A-5b-1003
- Division: means the Division of Facilities Construction and Management created in Section 63A-5b-301. See Utah Code 63A-5b-102
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Fund: means the State Facility Energy Efficiency Fund created in Section 63A-5b-1003. See Utah Code 63A-5b-1001
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
| (2) |
The fund shall consist of:
| (a) |
money transferred from the Stripper Well-Petroleum Violation Escrow Fund; |
| (b) |
money appropriated by the Legislature; |
| (c) |
money received for the repayment of loans made from the fund; and |
| (d) |
interest earned on the fund. |
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| (3) |
The division shall make a loan from the fund to an agency to finance all or part of energy efficiency measures. |
| (4) |
| (a) |
| (i) |
An agency requesting a loan shall submit an application to the division in the form and containing the information that the division requires, including plans and specifications for the proposed energy efficiency measures. |
| (ii) |
An agency may request a loan to fund all or part of the cost of energy efficiency measures. |
|
| (b) |
If the division rejects the application, the division shall notify the applicant stating the reasons for the rejection. |
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| (5) |
| (a) |
In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the division shall make rules establishing:
| (i) |
criteria to determine:
| (B) |
energy efficiency measures priority; and |
| (C) |
ways to measure energy savings that take into account fluctuations in energy costs and temperature; and |
|
| (ii) |
a method of monitoring actual savings resulting from energy efficiency measures implemented using loan money from the fund, using objective and verifiable post-construction measures, if available. |
|
| (b) |
In making rules that establish prioritization criteria for energy efficiency measures, the division may consider:
| (i) |
possible additional sources of revenue; |
| (ii) |
the feasibility and practicality of the energy efficiency measures; |
| (iii) |
the energy savings attributable to eligible energy efficiency measures; |
| (iv) |
the annual energy savings; |
| (v) |
the projected energy cost payback of eligible energy efficiency measures; |
| (vi) |
other benefits to the state attributable to eligible energy efficiency measures; |
| (vii) |
the availability of federal funds for the energy efficiency measures; and |
| (viii) |
whether to require an agency to provide matching funds for the energy efficiency measures. |
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| (6) |
| (a) |
In reviewing energy efficiency measures for possible funding, the division shall:
| (i) |
review the loan application and the plans and specifications for the energy efficiency measures; |
| (ii) |
determine whether to grant the loan by applying the loan eligibility criteria; and |
| (iii) |
if the loan is granted, prioritize funding of the energy efficiency measures by applying the prioritization criteria. |
|
| (b) |
The division may condition approval of a loan application and the availability of funds on assurances from the agency that the division considers necessary to ensure that the agency:
| (i) |
uses the proceeds to pay the cost of the energy efficiency measures; and |
| (ii) |
implements the energy efficiency measures. |
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| (7) |
The division shall annually report to the Government Operations Interim Committee of the Legislature the actual savings resulting from energy efficiency measures implemented using loan money from the fund, as monitored pursuant to rules adopted under Subsection (5)(a)(ii). |
Amended by Chapter 421, 2022 General Session
