CT HB06991

Establishes a Commercial Property Assessed Clean Energy (PACE) program administered by the Connecticut Green Bank to finance energy improvements for commercial and industrial properties through benefit assessments and liens.

Defines eligible energy improvements to include district heating and cooling systems, microgrids with clean energy, building renovations to reduce energy consumption, renewable energy systems, and solar thermal or geothermal systems.

Authorizes the Connecticut Green Bank to issue bonds and notes secured by revenues from benefit assessments, and allows third-party capital providers to offer loans directly to property owners as an alternative to bank financing.

Requires energy audits or feasibility studies before financing approval, 30-day notice to existing mortgage holders, and a 3-business-day rescission period for property owners entering financing agreements.

Establishes that benefit assessments function as property tax liens collected through municipalities, with provisions allowing the bank to assign liens to third parties and allowing foreclosure for unpaid installments.