AK SB212

Municipalities may designate energy improvements areas and establish programs to provide loans to property owners for cost-effective energy efficiency or renewable energy improvements on residential, commercial, or industrial buildings.

Municipalities must notify utilities distributing electricity or natural gas at least 30 days before adopting an ordinance establishing an energy improvements program.

Ordinances may establish loan application processes including energy audits, loan terms and interest rates, application and loan fees to cover administrative and financing costs, and requirements for timely repayment.

Municipalities may secure loans with liens on benefited property enforceable as special assessments, issue special assessment bonds for program financing, and apply for state or federal grants.

The state department may lend money to municipalities for program costs, and shall establish by regulation the types and extent of energy improvements eligible for state-funded financing based on energy conservation potential and cost-effectiveness.