HB 1332 Summary

• Authorizes legislative bodies of political subdivisions (excluding townships) to establish voluntary property assessed clean energy (PACE) programs to finance clean energy improvements through special assessments on property.

• Permits financing methods including owner-arranged commercial lending, federal grants/loans, and bond issuance, with bonds structured for a 20-year repayment period.

• Restricts program participation to commercial, industrial, agricultural (excluding homesteads), and postsecondary educational institution properties.

• Requires property owners to submit applications containing property details, improvement costs, baseline energy audits, and proof of no delinquent taxes or assessments.

• Specifies that special assessments are billed and collected by county treasurers similar to property taxes, become liens only if delinquent, and do not accelerate upon property ownership changes.