Iowa Power Fund Passes Out of Committee

From the Iowa Renewable Energy Association (IRenew)...

The Iowa Energy Independence act passed the first funnel last night and is alive and well. Many energy issues are included in the bill, including more funding for the Iowa Energy Center. I have pasted the bill in its entirety below.

From the Des Moines Register:

Iowa Power Fund

WHAT: A $100 million fund to go toward research in alternative energy sources, such as wind, plants, grasses, animal wastes, solar power, water, vegetables, and other renewable sources. Gov. Chet Culver is seeking an immediate $25 million. The rest would be spent over the following three years.

WHY IT'S IMPORTANT: The goal is to help start and expand energy businesses in Iowa, to make Iowa a leader in researching new energy technologies, to create new high-paying jobs, to leverage new private investments, to lower energy costs for Iowans, to cut Iowa's dependence on foreign oil, and to reduce greenhouse gas emissions and stabilize the global climate.

WHAT'S NEW: The policy piece of the plan, House File 498, was endorsed by a House committee late Tuesday as lawmakers scrambled to keep it alive past the first legislative funnel deadline. The bill includes a new director of energy independence, an advisory council of experts to set goals and guide spending, and the power fund. Meanwhile, the money piece, Senate Study Bill 1298, was approved in a Senate committee Tuesday morning.

The Iowa Power Fund was a key of Culver's campaign for governor. During the campaign the plan showed that Culver had the vision to lead the state into the future. Energy indpendence is not an easy task and bills like this are a key to achieving these goals.