AB765: Bill Text

AB765,1 Section 1 . 20.505 (1) (am) of the statutes is created to read:

AB765,1,5 20.505 (1) (am) Green bank study. A sum sufficient to conduct the green bank study under 2019 Wisconsin Act .... (this act), section 2.

AB765,2 Section 2 . Nonstatutory provisions.

AB765,2,1 (1) Green bank study.

AB765,2,4 (a) Definition. In this subsection, “green bank” means a financial institution that uses a combination of public funds and private investment to finance the deployment of renewable energy and energy efficiency projects.

AB765,2,9 (b) Study. The department of administration shall contract with an independent consultant with experience in the financing of energy conservation and renewable energy projects to produce a study of the prospects, options, benefits, and costs of developing a green bank in this state. The study shall analyze, at a minimum, all of the following:

AB765,2,11 1. The structure, authorities, duties, and operations of green banks operating in other states, including all of the following:

AB765,2,12 a. The types of projects green banks finance.

AB765,2,15 b. The process of aggregating multiple small projects into financial instruments that are attractive to private lenders, converting those instruments into marketable securities, and marketing those securities.

AB765,2,17 c. How green banks can stimulate demand for capital for projects and can supply the capital.

AB765,2,20 d. The levels of the initial capital provided to green banks from public funds and the length of time before the green banks generated sufficient funds to fully pay their operating expenses.

AB765,2,21 e. How green banks can use existing bonding tools.

AB765,2,24 2. Strategies that have the potential to be successful in this state for leveraging private capital into the market to increase overall investment in renewable energy and energy efficiency projects.

AB765,3,2 3. The implications of developing a green bank as a public, quasi-public, or nonprofit entity.

AB765,3,5 4. Existing energy efficiency and financing programs in this state and the gaps that a green bank could most effectively fill, with priority given to the gaps in programs provided in low income, minority, and other underserved communities.

AB765,3,7 5. A business plan and timeline outlining start-up operations and milestones of a green bank in this state.

AB765,3,9 6. The feasibility and implications of requiring or encouraging green banks to give priority to projects in low income, minority, and other underserved communities.

AB765,3,13 7. The implications of a green bank in this state requiring any person who receives funding from the green bank to meet, of a green bank giving funding preference to persons who meet, and of requiring a green bank in this state to meet the following conditions:

AB765,3,14 a. Maintain a permanent place of business.

AB765,3,15 b. Be authorized to do business in this state.

AB765,3,17 c. Not be debarred, suspended, proposed for debarment, or declared ineligible from contracting with any unit of federal, state, or local government.

AB765,3,19 d. Be in compliance with the provisions of 21 USC 2000e and Federal Executive Order No. 11246 as amended by Executive Order No. 11375.

AB765,3,21 e. Have general liability, worker's compensation, and automobile insurance at levels sufficient to protect the public given the size of the project.

AB765,3,24 f. Have complied with all provisions of the federal Davis-Bacon Act and related acts and all rules promulgated under those acts for any projects to which those acts applied during the previous 5 years.

AB765,4,4 g. For a person conducting a construction or maintenance contract, confirm that the person participates in an apprenticeship program that is currently registered by the U.S. Department of Labor or a state apprenticeship agency and has graduated at least one apprentice to journeyperson status within the last 3 years.

AB765,4,6 h. Have a written substance abuse prevention program meeting the requirements of s. 103.503.

AB765,4,9 i. Confirm that employees who will perform work on a project are properly classified as employees or independent contractors under applicable state and federal laws.

AB765,4,11 j. Confirm that employees who will perform work on a project are covered under a current worker's compensation policy and are properly classified under the policy.

AB765,4,12 k. Have all applicable professional and trade licenses.

AB765,4,14 l. Have adequate financial resources to complete a project and any other project that the person is under contract to complete.

AB765,4,15 m. Be bondable for the terms of the proposed project.

AB765,4,20 n. Have a record of satisfactorily completing at least 5 projects of similar size and complexity within the last 5 years, based on completion of contracts in accordance with drawings and specifications, diligent execution of the work and completed contracts according to established time schedules, and fulfillment of guarantee requirements of the contract.

AB765,4,21 o. Maintain a written safety program.

AB765,4,23 p. Not have received a serious, willful, or repeated violation from the federal Occupational Safety and Health Administration in the past 10 years.

AB765,5,4 (c) Report. The department of administration shall submit a report on the study conducted under this subsection no later than one year after the effective date of this paragraph, to the chief clerk of each house of the legislature for distribution to the appropriate standing committees under s. 13.172 (3).

AB765,5,5 (End)