Summary of SB08-184
Short Title: Colorado Clean Energy Finance Program

Sponsors: Romer

Creates the Colorado clean energy finance program (program) to provide below market-rate clean energy loans in limited amounts to homeowners for the purpose of financing home repairs, additions, or improvements that will improve the energy efficiency of homes or allow homes to use more energy from renewable rather than nonrenewable sources (clean energy improvements). Requires the governor's energy office (office) to oversee the program, select a program administrator (administrator) to issue clean energy loans, directly market the program to the general public, and develop and operate or contract with the administrator for the development and operation of a quality assurance, measurement, and verification program for the program. Creates a clean energy program fund (program fund) and creates loan buy-down and loan loss reserve accounts within the program fund. Specifies that the program fund and accounts shall consist of moneys appropriated thereto by the general assembly. Requires interest and income earned on the deposit and investment of moneys in the program fund and accounts to be used to make new clean energy loans. Requires the office to expend moneys in the loan buy-down account to buy down the interest rate on clean energy loans issued to income-qualified borrowers and to expend moneys in the loan loss reserve account to compensate the administrator for losses from uncollectible clean energy loans written off by the administrator. Requires the state treasurer to periodically transfer moneys from the loan buy-down account to the loan loss reserve account to ensure that the balance of the loan loss reserve account is maintained at a specified level. Requires the administrator to generate capital to issue clean energy loans by issuing bonds or other notes payable from clean energy loan payments, and authorizes the state treasurer to invest up to a specified amount of state moneys in the bonds or other notes. Requires the administrator to recruit, select, screen, train, and certify contractors, make clean energy loans to qualified borrowers, including clean energy loans at specified below-market interest rates to income-qualified borrowers, and issue annual reports regarding its administration of the program. Specifies an annual deadline for and information to be included in the annual reports, and also specifies an annual deadline for the office to report to specified committees of the general assembly regarding the program. Defines terms.


Status
02/26/2008 Introduced In Senate - Assigned to Agriculture, Natural Resources & Energy
03/06/2008 Senate Committee on Agriculture, Natural Resources & Energy Refer Amended to Appropriations
04/11/2008 Senate Committee on Appropriations Pass Amended to Senate Committee of the Whole
04/16/2008 Senate Second Reading Laid Over
04/17/2008 Senate Second Reading Laid Over
04/18/2008 Senate Second Reading Passed with Amendments
04/21/2008 Senate Third Reading Passed
04/21/2008 Introduced In House - Assigned to Transportation & Energy + Appropriations
04/24/2008 House Committee on Transportation & Energy Refer Amended to Appropriations
04/25/2008 House Committee on Appropriations Lay Over Amended
04/25/2008 House Committee on Appropriations Lay Over Amended
04/29/2008 House Committee on Appropriations Pass Amended to House Committee of the Whole
04/29/2008 House Second Reading Special Order - Passed with Amendments
04/30/2008 House Third Reading Passed
05/02/2008 Senate Considered House Amendments - Result was to Laid Over Daily05/02/2008
05/05/2008 Senate Considered House Amendments - Result was to Laid Over Daily05/05/2008
05/05/2008 Senate Considered House Amendments - Result was to Concur - Repass

Amendments

Fiscal Notes Status

To View Entire Bill >