HB1050 Summary

• Establishes the "Energy Efficiency and Conservation Financing Act" authorizing electricity and natural gas providers to finance residential energy efficiency improvements through written agreements with customers.

• Allows providers to recover financing costs through "meter conservation charges" listed separately on customer bills, with interest rates capped at the lesser of 4% above one-year Treasury bill rates or Arkansas's maximum usury rate.

• Requires preinstallation energy audits by qualified providers (certified by Building Performance Institute, licensed Arkansas contractors with 5+ years experience) confirming that energy savings will exceed installation costs within the repayment period.

• Permits recovery of costs from subsequent property purchasers through recorded notices of meter conservation charges, and allows continued recovery from subsequent tenants if landlords provide required written notice.

• Prohibits use of Low Income Home Energy Assistance Program or Weatherization Assistance Program federal funds for financing and directs the Arkansas Public Service Commission to promulgate implementing rules.