SB387 (2006) Detail

Relative to energy efficiency loans and guarantees by the business finance authority.


CHAPTER 159

SB 387 – FINAL VERSION

2006 SESSION

06-3028

05/03

SENATE BILL 387

AN ACT relative to energy efficiency loans and guarantees by the business finance authority.

SPONSORS: Sen. Burling, Dist 5; Sen. Fuller Clark, Dist 24; Sen. Hassan, Dist 23

COMMITTEE: Finance

ANALYSIS

This bill authorizes the business finance authority to guarantee and provide loans to small businesses and agricultural entities for energy efficiency improvements.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

06-3028

05/03

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Six

AN ACT relative to energy efficiency loans and guarantees by the business finance authority.

Be it Enacted by the Senate and House of Representatives in General Court convened:

159:1 New Section; Business Finance Authority; Energy Conservation Loan Program. Amend RSA 162-A by inserting after section 9 the following new section:

162-A:9-a Energy Conservation Loan Program.

I. The authority shall establish an energy conservation loan program to encourage small businesses and agricultural entities to improve energy efficiency, particularly through the adoption of conservation and cogeneration initiatives. Pursuant to the terms and conditions for loan guarantees under RSA 162-A:8 and for temporary loans under RSA 162-A:9, the authority shall provide loan guarantees and direct loans to small businesses and agricultural entities for energy efficiency improvements.

II. The authority shall not make any loan or enter into any loan agreement under this section unless, after a hearing, the governor and council have made the findings specified in RSA 162-A:18.

159:2 Effective Date. This act shall take effect 60 days after its passage.

Approved: May 22, 2006

Effective: July 21, 2006