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Senate advances bill to merge clean-fuels loan funds, seek federal match to spur vehicle conversions
Summary
The Utah Senate passed SB68 on Jan. 24 to combine public and private clean-fuels loan funds, authorize 0% interest loans for public conversions, and request a $330,000 general-fund appropriation to leverage $330,000 in federal matching money aimed at expanding alternative-fuel vehicle conversions and improving air quality.
Senate sponsors advanced legislation Tuesday to reshape the state—s Clean Fuels Loan Program, consolidating separate public and private conversion loan funds and authorizing the state to seek $330,000 in general-fund appropriation to obtain an equal federal match.
Senator McAllister, the floor sponsor of SB68, told colleagues the bill would merge the two existing accounts into a single revolving fund and remove fixed per-conversion dollar caps so that the state "would reimburse them for the amount of costs incurred in converting from the current fuel to the clean fuel." He said the change aims to make conversions more appealing and to increase public-sector participation.
The bill would set loan interest for public-sector vehicle…
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