Substitute Senate Bill No. 93 Summary

• Expands the definition of "energy improvements" to include refueling infrastructure for zero-emission vehicles and resilience improvements to commercial properties, in addition to existing categories like energy efficiency upgrades and renewable energy systems.

• Authorizes the Connecticut Green Bank to establish a commercial sustainable energy program that finances energy improvements for qualifying commercial real property and issue bonds secured by benefit assessments on those properties.

• Allows the bank to work with third-party capital providers to offer financing directly to property owners, and requires property owners to receive energy audits, feasibility studies, or resilience studies before approval, with exemptions for zero-emission vehicle infrastructure and resilience improvements.

• Establishes benefit assessment liens that are collected like property taxes, take precedence over all liens except municipal property tax liens, and can be assigned or sold by participating municipalities to the bank or other entities.

• Requires property owners to receive written notice at least 30 days before a benefit assessment lien is recorded, allows a three business day rescission period for financing agreements, and mandates disclosure of all costs, risks, and effective interest rates associated with the program.