Senate Study Bill 1306


                                          SENATE FILE       
                                          BY  (PROPOSED COMMITTEE ON
                                               ECONOMIC GROWTH BILL BY
                                               CHAIRPERSON STEWART)


       Passed Senate, Date               Passed House,  Date             
       Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                    Approved                            

                                         A BILL FOR

     1 An Act creating an Iowa advanced renewable fuels technology
     2    commercialization program, fund, and an advisory board.
     3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
     4 TLSB 2626XC 82
     5 tm/gg/14

PAG LIN



  1  1    Section 1.  NEW SECTION.  15.411  IOWA ADVANCED RENEWABLE
  1  2 FUELS TECHNOLOGY COMMERCIALIZATION PROGRAM == FUND == ADVISORY
  1  3 BOARD.
  1  4    1.  The department shall establish and administer an Iowa
  1  5 advanced renewable fuels technology commercialization program
  1  6 for purposes of providing cost=share grants to renewable fuels
  1  7 producers that are installing commercial scale advanced and
  1  8 innovative technology at new or existing renewable fuels
  1  9 refineries.  Grants awarded under the program shall be at
  1 10 least five hundred thousand dollars but not more than five
  1 11 million dollars per grant.  In reviewing applications for
  1 12 grants, the department shall consider the commercial
  1 13 applicability of the technology; the extent to which the
  1 14 technology is unique; and the potential of the technology to
  1 15 address plant process technology, plant efficiency, or plant
  1 16 environmental processes.  The department shall consider
  1 17 recommendations by the renewable fuels industry advisory board
  1 18 regarding applications for financial assistance.  Financial
  1 19 assistance under the program shall be provided from the Iowa
  1 20 advanced renewable fuels technology commercialization fund
  1 21 created in subsection 2.
  1 22    2.  An Iowa advanced renewable fuels technology
  1 23 commercialization fund is created in the state treasury under
  1 24 the control of the department and consisting of any moneys
  1 25 appropriated by the general assembly and any other moneys
  1 26 available to and obtained or accepted by the department for
  1 27 placement in the fund.  The fund shall be used to provide
  1 28 financial assistance under the Iowa advanced renewable fuels
  1 29 technology commercialization program established in subsection
  1 30 1.  Any recaptures of financial assistance under the program
  1 31 shall be deposited in the fund.  Moneys in the fund are not
  1 32 subject to section 8.33.  Notwithstanding section 12C.7,
  1 33 interest or earnings on moneys in the fund shall be credited
  1 34 to the fund.
  1 35    3.  A renewable fuels industry advisory board is
  2  1 established within the department for purposes of advising the
  2  2 department on the approval of grants under the Iowa advanced
  2  3 renewable fuels technology commercialization program and
  2  4 consisting of members appointed by the director.
  2  5                           EXPLANATION
  2  6    This bill creates an Iowa advanced renewable fuels
  2  7 technology commercialization program, fund, and an advisory
  2  8 board.
  2  9    The bill requires the department of economic development to
  2 10 establish and administer an Iowa advanced renewable fuels
  2 11 technology commercialization program for purposes of providing
  2 12 cost=share grants to renewable fuels producers that are
  2 13 installing commercial scale advanced and innovative technology
  2 14 at new or existing renewable fuels refineries.  The bill
  2 15 requires that the grants awarded be at least $500,000 but not
  2 16 more than $5 million per grant.  The bill provides that, in
  2 17 reviewing applications for grants, the department shall
  2 18 consider the commercial applicability of the technology; the
  2 19 extent to which the technology is unique; and the potential of
  2 20 the technology to address plant process technology, plant
  2 21 efficiency, or plant environmental processes.
  2 22    The bill creates an Iowa advanced renewable fuels
  2 23 technology commercialization fund in the state treasury under
  2 24 the control of the department and consisting of any moneys
  2 25 appropriated by the general assembly and any other moneys
  2 26 available to and obtained or accepted by the department for
  2 27 placement in the fund.  The bill provides that the fund shall
  2 28 be used to provide financial assistance under the Iowa
  2 29 advanced renewable fuels technology commercialization program.
  2 30    The bill establishes a renewable fuels industry advisory
  2 31 board within the department for purposes of advising the
  2 32 department on the approval of grants under the Iowa advanced
  2 33 renewable fuels technology commercialization program.  The
  2 34 bill requires the department to consider recommendations by
  2 35 the renewable fuels industry advisory board regarding
  3  1 applications for financial assistance.
  3  2 LSB 2626XC 82
  3  3 tm:nh/gg/14