$13B green energy fund moves forward in Ohio
Ohio is one step closer to a $13 billion funding mechanism for renewable eneryg technologies.
Ohio Attorney General Mike DeWine OK’d a ballot initiative that, if approved, would instruct the state to take on $13 billion in debt over 10 years to pay for green energy improvements and support research in the field.
Dewine checked that the petition, submitted by Yes For Ohio’s Energy Future, had at least 1,000 valid signatures from registered voters and a “fair and truthful” summary. The petition now goes to the Ohio Ballot Board, which will decide whether the amendment to the Ohio Constitution requires multiple ballot issues, and petitioners will have to collect signatures for each issue, according to a press release.
The proposed amendment would allow the state to issue $1.3 billion in bonds each year from 2013 to 2023 to pay for energy infrastructure improvements and research and development of green technology, such as solar, wind and geothermal energy.
It also would set aside $65 million a year for the Ohio Energy Initiative Commission, which would decide which projects received part of the annual pie.
The group estimates that “well over 300,000 permanent jobs” would be created through the program and would pay for itself through increased tax revenue, according to its website.
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.