S.B. 810                                                  VETOES

[6-3A-12.] 6-312.

The Department shall adopt regulations necessary to carry out the purposes of this
subtitle.                             

Subtitle [3.] 4. Maryland Energy Financing Act.

[6-301.] 6-401.

(a)     It is hereby found and declared by the General Assembly that:

(1)     It is necessary and appropriate that Maryland promote and assist the
nation's effort to improve our balance of payments, to reduce the threat of economic
disruption from petroleum supply interruptions, and to increase the nation's security by
reducing its dependence upon imported petroleum;

(2)     Energy conservation and the increased use of energy produced from
Maryland resources can reduce the flow of capital out of Maryland for energy imports,
and can increase the financial resources which remain within the State to support jobs
and economic activity within the Maryland economy;

(3)     Reducing the State's consumption of energy can lessen the adverse
economic impacts on its citizens. caused by rising energy prices, can reduce the
consumption of depletable resources which have other beneficial uses, and can reduce
adverse environmental impacts from the utilization of energy sources;

(4)     For the benefit of the people of the State of Maryland and in the interest
of improving their commerce, welfare, and prosperity, it is necessary and appropriate for
the State of Maryland to maintain or institute all reasonable measures to increase the
supply of energy and to reduce the demand for energy;

(5)     Financing through conventional, private sources is not available on
terms and conditions that provide adequate incentives for promoting urgently needed
investment in energy projects;

(6)     The provision of adequate supplies of energy to the citizens of Maryland
can be enhanced by the establishment of programs of financial assistance as incentives to
promote energy conservation and the development of additional sources of energy supply;

(7)     The federal government has enacted legislation, in particular the Energy
Security Act, P.L. 96-294, which establishes substantial programs for providing financial
assistance, through such means as loans, loan guarantees, and grants, for energy
conservation and the development of energy sources including coal, biomass, municipal
solid waste, solar energy, hydropower, and geothermal energy.

(b)     The General Assembly therefore declares that the public interest is served by
establishing and carrying out programs providing various forms of financial assistance as
incentives for energy projects which take maximum advantage of the energy financing
programs established under federal initiatives.

[6-302.] 6-402.

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