HB 374 Summary

• Allows utilities to offer written on-bill financing agreements for renewable energy systems, energy efficiency devices, energy storage devices, and energy conservation systems (including fuel-switching) in occupied residences and buildings.

• Requires on-bill financing agreements to state a fixed interest rate and offer customers the option to purchase repair and maintenance agreements covering the system or device for at least the financing term.

• Establishes "meter conservation charges" on utility bills to recover financing costs, administrative costs, and repair/maintenance fees; charges appear as separate line items and may be enforced like standard utility non-payment.

• Permits utilities to recover remaining balances from subsequent property owners if proper notice is filed in the recording district, unless the new owner assumes the debt; original customers can avoid this by entering a written agreement to pay the balance before transfer.

• Allows utilities to contract with third parties for financing and administrative functions, with liability protections for both the utility and third party regarding system installation, operation, and maintenance.