CS for Senate Bill No. 39(CRA) - Summary

• Establishes the Municipal Property Assessed Clean Energy Act, allowing Alaska municipalities to create programs that impose property assessments to finance energy improvement projects in designated regions.

• Municipalities must adopt a resolution of intent, prepare a detailed report, hold a public hearing, and pass an ordinance to establish a program; the report must include project descriptions, region boundaries, financing arrangements, and underwriting standards.

• Enables municipalities to enter into written contracts with eligible property owners to impose assessments repaying financing for qualified improvements (energy-efficiency installations, renewable energy systems, or emissions-reduction projects).

• Authorizes municipalities to issue bonds or notes secured by assessment payments or other available funds to finance projects; assessments create liens on property with priority over all liens except municipal tax liens and special assessments.

• Requires property owners to notify mortgage holders at least 30 days in advance and obtain written consent before participating; prohibits municipalities from conditioning permits or licenses on assessment participation.