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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
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