Texas § GV.447.013 - ADVANCED CLEAN ENERGY PROJECT GRANT AND LOAN PROGRAM

§ GV.447.013. ADVANCED CLEAN ENERGY PROJECT GRANT AND LOAN PROGRAM

ADVANCED CLEAN ENERGY PROJECT GRANT AND LOAN PROGRAM. (a) In this section: (1) "Account" means the advanced clean energy project account established under this section. (2) "Advanced clean energy project" has the meaning assigned by Section 382.003 , Health and Safety Code. (3) "Program" means the advanced clean energy project grant and loan program established under this section. (b) The advanced clean energy project grant and loan program is established to encourage the development of advanced clean energy projects in an environmentally protective manner. The program is administered by the State Energy Conservation Office. (c) The advanced clean energy project account is an account in the general revenue fund. (d) The account consists of: (1) a sub-account in the account that consists of the proceeds of bonds issued under Subsection (j); (2) revenues allocated to the account under Section 182.122 , Tax Code; (3) any amount appropriated by the legislature for the account; (4) gifts, grants, and other donations received for the account; and (5) interest earned on the investment of money in the account. (e) Money in the account may be appropriated only to the State Energy Conservation Office to award grants or to make or guarantee loans under this section. The total amount of grants that may be awarded under this section in any state fiscal biennium from revenues described by Subsection (d)(2) may not exceed $20 million. The total amount of loans that may be made or guaranteed under this section in any state fiscal biennium from revenues described by Subsection (d)(2) may not exceed $10 million. (f) Before awarding a grant or making a loan under this section, the State Energy Conservation Office shall enter into a written agreement with the entity to which the grant is to be awarded or the loan is to be made. The agreement may specify that if, as of a date specified by the agreement, the entity has not used the grant or loan for the purposes for which the grant or loan was intended, the entity shall repay the amount of the grant or the amount of the loan and any accrued interest, as applicable, under terms specified by the agreement. (g) Under the program, the State Energy Conservation Office may award a grant to the managing entity of an advanced clean energy project in an amount not to exceed 50 percent of the total amount invested in the project by private industry sources. The managing entity of the project must provide any information considered necessary by the State Energy Conservation Office to determine whether the entity qualifies for the grant. (h) Under the program, the State Energy Conservation Office may make or guarantee a loan to the managing entity of an advanced clean energy project in this state. If the loan or guarantee is to be funded by the proceeds of bonds issued under Subsection (j), the project must qualify for the loan or guarantee under Section 49-q , Article III, Texas Constitution. (i) A recipient of a grant or loan under this section is encouraged to purchase goods and services from small businesses and historically underutilized businesses, as those terms are defined by former Section 481.191, as that section existed on January 1, 2015. Added by Acts 2007, 80th Leg., R.S., Ch. 1277 (H.B. 3732 ), Sec. 1, eff. September 1, 2007. Amended by: Acts 2015, 84th Leg., R.S., Ch. 364 (H.B. 2667 ), Sec. 2, eff. September 1, 2015.