2561 AMH DUNS SNEL 016

HB 2561 - H AMD 1005

By Representative Dunshee

ADOPTED 1/20/2010

    On page 2, line 30, after "nondebt-limit" strike "reimbursable" and insert "general fund"

    On page 3, after line 2, insert the following:

    "(3) On each date on which any interest or principal and interest payment is due on bonds issued for the purposes of section 201 of this act, the state treasurer shall withdraw from any general state revenues received in the state treasury and deposit in the nondebt-limit general fund bond retirement account an amount equal to the amount certified by the state finance committee to be due on the payment date."

    On page 5, line 37, after "years" insert "or until the energy and operational costs savings pay for the project, whichever is shorter"

EFFECT:  Makes corrections to the name of the account that funds are drawn from to pay debt service, and directs the State Treasurer to move funds to pay debt service to the bond retirement account.

Changes the time in which a project that does not use Energy Savings Performance Contracting must verify energy and operational savings for ten years or until the project has paid for itself, whichever is shorter.

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