SECTIONS 53000-53002 - California Statutes

HEALTH AND SAFETY CODE

SECTION 53000-53002

53000. This part may be cited as the Solar and Energy Conservation
Mortgage Corporation Act of 1981.

53001. The Legislature hereby determines that:
(a) There is a national policy of reducing demand for nonrenewable
energy sources, recognition of which is especially important to the
economic welfare of California residents and is, therefore, an
important state policy goal.
(b) Widespread purchase, installation, and use of effective energy
conservation measures in designated buildings is a particularly
promising and expeditious manner in which this goal may be pursued.
(c) The provisions of this part are intended to provide a
flexible, practicable, and effective program for the financing of
solar and energy conservation measures in buildings throughout the
state.

53002. The Legislature further declares its intention that the
provisions of this part be interpreted and implemented in a manner
which will accomplish the following:
(a) Maintain a high level of diversity and competition among
businesses and institutions which finance energy conservation
measures and structural improvements.
(b) Help to reduce the dependence of California on imported and
nonrenewable energy sources, as well as to hold down increases in the
cost of energy.
(c) Encourage the movement of private capital into renewable
energy and conservation investments, thereby eliminating or reducing
the need to place additional burdens on California taxpayers and
utility ratepayers, through creation of a secondary mortgage market
instrumentality for the purchase of energy related loans.
(d) Develop impetus toward creation of new jobs for California
workers in the renewable energy, conservation, and building
industries.
(e) Help provide secure, progressive investment opportunities for
financial institutions, insurance companies, pension funds, and other
private investors in the fields of energy conservation and building
improvement.