HB 11-1047 Summary

• Expands the Colorado New Energy Improvement District program to include commercial buildings owned or operated by for-profit and nonprofit entities, in addition to residential buildings

• Adds new definition of "commercial building" as an improvement to real property designed for use predominantly as a place of business, including any connected improvements billed together for property tax purposes

• Modifies the $25,000 reimbursement cap to apply only to residential buildings; commercial buildings are subject to the 20% of property value limit instead

• Updates program requirements to allow energy audits for both homes and commercial buildings, and requires disclosure of private financing options including commercial loans and lines of credit

• Amends underwriting guidelines to consider commercial building equity and apply consistent lending practices for both residential and commercial applicants