SECTIONS 25650 - California Statutes

PUBLIC RESOURCES CODE

SECTION 25650

25650. (a) All funds from loan repayments and interest that become
due and payable for loans made by the commission pursuant to an
agriculture energy assistance program shall be deposited in the
Energy Technologies Research, Development, and Demonstration Account,
and shall be available for loans and technical assistance pursuant
to this section, upon appropriation in the Budget Act. Up to 20
percent of the annual appropriation may be available for technical
assistance.
(b) Loans made pursuant to this section shall be for the purchase
of equipment and services for agriculture energy efficiency and
development demonstration projects, including, but not limited to,
production of methane or ethanol, use of wind, photovoltaics, and
other sources of energy for irrigation pumping, application of load
management conservation techniques, improvements in water pumping and
pressurization techniques, and conservation tillage techniques.
(c) The loans shall contain terms that provide for a repayment
period of not more than seven years and for interest at a rate that
is not less than 2 percent below the rate earned by moneys in the
Pooled Money Investment Account.