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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1509 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
H.D. 3 |
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STATE OF HAWAII |
S.D. 2 |
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A BILL FOR AN ACT
RELATING TO ENERGY.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that Hawaii leads the nation in the creation of pioneering models of energy and infrastructure financing to save taxpayers' money. In 2013, the legislature established the green energy market securitization program, which uses private investment dollars to pay for the upfront costs of energy infrastructure retrofits for both public and private purposes, which is paid back using the savings realized from the reduction in energy costs generated by the new energy-efficient infrastructure while also producing an additional net savings to the end user.
By using energy-savings financing mechanisms such as the green energy market securitization fund to pay for a large portion of any renewable energy project, the university can reduce its electrical consumption at a fraction of the cost to taxpayers. Furthermore, the use of energy-savings financing mechanisms such as the green energy market securitization fund to pay for the renewable energy portion of any deferred maintenance project can help the university reduce its deferred maintenance backlog and lower its electrical consumption at a fraction of the cost to taxpayers. The legislature declares that this Act is a matter of statewide concern.
The purpose of this Act is to maximize taxpayer savings by establishing long-term commitments to reduce energy use at the University of Hawaii and by appropriating funds through the green infrastructure special fund for University of Hawaii capital improvement and energy efficiency projects.
SECTION 2. Chapter 304A, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§304A- Energy use; net-zero goal. (a) The University of Hawaii shall establish a collective goal of becoming net-zero with respect to energy use, producing as much energy as the system consumes across all campuses, by January 1, 2035.
(b) The University of Hawaii shall establish a benchmark for the amount and value of energy consumed during the 2014-2015 fiscal year, against which it shall measure its progress toward the goal set forth in subsection (a).
(c) The University of Hawaii shall submit an annual report to the legislature no later than twenty days before the convening of each regular session that includes the following information:
(1) The total debt service in the prior fiscal year for University of Hawaii capital improvement projects funded through a subaccount of the green infrastructure special fund;
(2) The current value of the energy saved in the prior fiscal year through University of Hawaii capital improvement projects with outstanding debt service funded through a subaccount of the green infrastructure special fund;
(3) The status of each University of Hawaii capital improvement project funded through a subaccount of the green infrastructure special fund, if the project is not yet complete;
(4) Recommendations for the next phase of University of Hawaii capital improvement projects to be funded through a subaccount of the green infrastructure special fund; and
(5) Overall progress toward the net-zero goal set forth in this section."
SECTION 3. The director of finance is authorized to issue general obligation bonds in the sum of $ or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2015-2016 for the purpose of University of Hawaii capital improvement projects to be funded through a subaccount of the green infrastructure special fund.
SECTION 4. There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2015-2016 and the same sum or so much thereof as may be necessary for fiscal year 2016-2017 for deposit into a subaccount of the green infrastructure special fund.
SECTION 5. There is appropriated out of a subaccount of the green infrastructure special fund the sum of $ or so much thereof as may be necessary for fiscal year 2015-2016 for the University of Hawaii at Manoa for plans, design, construction, and equipment for the retrofit of Klum gym, with new athletics-support functions, and for other campus small energy efficiency projects with high return on investment.
The sum appropriated shall be expended by the University of Hawaii for the purposes of this Act.
SECTION 6. The appropriation made for the capital improvement project authorized by this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2018, shall lapse as of that date.
SECTION 7. New statutory material is underscored.
SECTION 8. This Act shall take effect on July 1, 2050.
Report Title:
University of Hawaii; Energy; Appropriation
Description:
Requires UH to establish collective goal of becoming net-zero with respect to energy use by January 1, 2035. Makes appropriations and authorizes general obligation bonds to the University of Hawaii through a sub-account of the green infrastructure special fund. Effective 7/1/2050. (SD2)
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