HB2333 Summary

• Extends maximum contract terms for energy and water savings projects from 15 years to 25 years for cities, towns, counties, and school districts.

• Expands definition of "energy cost savings" to include reductions in stormwater fees, other utility costs, equipment replacement and repair costs, and revenue increases from improved facility use or metering.

• Allows repayment schedules to be based on lower energy, water, or other costs plus increased revenue rather than solely on energy cost reductions.

• Transfers reporting requirements for guaranteed energy cost savings contracts from the Governor's Office of Energy Policy to the Department of Administration.

• Permits agents and school districts to elect shorter capital repayment schedules than the standard terms and clarifies that "agent" includes community college districts, the Department of Administration, and the Arizona Board of Regents.