SENATE BILL REPORT
HB 2676
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
As of February 17, 2010
Title: An act relating to energy conservation loans.
Brief Description: Extending the pay back period for certain energy conservation loans.
Sponsors: Representatives Chase and Simpson.
Brief History: Passed House: 2/13/10, 91-1.
Committee Activity: Environment, Water & Energy: 2/19/10.
SENATE COMMITTEE ON ENVIRONMENT, WATER & ENERGY |
Staff: Jan Odano (786-7486)
Background: Under current Washington laws and within limits established by the state Constitution, public utility districts are authorized to assist owners of structures or equipment in financing the acquisition and installation of materials and equipment for the conservation or more efficient use of energy. Similarly, irrigation districts engaged in the distribution of energy may assist the owners of residential structures with financing the acquisition and installation of materials and equipment for the conservation or more efficient use of energy. The payback period for energy conservation loans cannot exceed 120 months.
In 2009 the Legislature extended the time period in which a customer of a municipal utility must repay a loan for increasing energy efficiency and in which a customer of a public utility district must repay a loan for conservation or more efficient water use from 120 months to 240 months.
Summary of Bill: The timeframe for which energy conservation loans provided by a public utilities district or an irrigation district must be repaid, is extended from 120 months to 240 months.
Appropriation: None.
Fiscal Note: Not requested.
Committee/Commission/Task Force Created: No.
Effective Date: Ninety days after adjournment of session in which bill is passed.