Vote Smart's Synopsis:

Vote to pass a bill that creates the Iowa Power Fund for research and development of alternative fuels and energy efficiency.

Highlights:

- Makes an initial appropriation of $24.7 million to establish the Iowa Power Fund [sec. 18]. - $25 million annually to the Iowa Power Fund in 2008, 2009, and 2010 [sec.10]. - Requires that ten percent of money in the fund be used for energy planning, energy education, and energy efficiency [sec. 10]. - Requires $2.5 million of the fund to be spent annually on workforce training and economic development within the energy industry through community colleges [sec. 10]. - Establishes an 18 member Iowa Power Fund Board responsible for distributing funds for alternative fuel grants and advising the Governor on energy issues [sec. 6]. - Establishes the Office of Energy Independence and requires the Director of the Office of Energy Independence to develop an energy independence plan [sec. 2].

Full Bill Text

Full Bill Text