CSHB 118(FIN) - Municipal Property Assessed Clean Energy Act

• Adopts the Municipal Property Assessed Clean Energy Act, authorizing Alaska municipalities to establish programs that impose property assessments to finance energy improvement projects on real property.

• Allows first and second class boroughs to establish energy improvement assessment programs on an areawide or nonareawide basis through municipal ordinance.

• Requires written contracts between municipalities and property owners for assessments, with financing provided either by third parties or the municipality itself; assessments may cover materials, labor, permits, inspection fees, and administrative costs.

• Establishes program procedures including adoption of resolution of intent, public hearing, and ordinance; requires independent third-party baseline energy review before project completion and verification review after completion.

• Permits municipalities to issue bonds or notes secured by contractual assessments to finance qualified projects; creates assessment liens on property that are prior to all liens except municipal tax liens and special assessments.