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IN SB0563
Bill
Status
1/20/2015
Primary Sponsor
Mark Stoops
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AI Summary
SB 563 Summary
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Authorizes local governments to establish voluntary Property Assessed Clean Energy (PACE) programs by designating clean energy improvement financing districts after June 30, 2015.
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Permits financing of qualified clean energy improvements including renewable energy systems, energy efficiency measures, water conservation, and wastewater compliance projects through property assessments on eligible commercial, industrial, agricultural, educational, and nonprofit properties.
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Assessment periods cannot exceed 20 years and must be based on the expected useful life of the improvement; assessments are recorded as liens on property and collected through property tax mechanisms.
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Requires the Indiana Utility Regulatory Commission to adopt technical guidelines by June 15, 2015 for determining calculation intervals and reconciliation mechanisms for projects exceeding $250,000 in assessments.
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Establishes that energy savings from qualified improvements must be credited to the utility for efficiency incentive purposes, and participation does not exempt property owners from net metering surcharges.
Legislative Description
Open-market PACE programs. Authorizes the legislative body of a local governmental unit to designate an area as a clean energy improvement financing district and authorize financing of certain qualified clean energy improvements, including reduced water consumption and waste water discharges, through assessments. Requires the utility regulatory commission to adopt rules to establish technical guidelines to assist local governmental units in administering a district's program.
Last Action
First Reading: referred to Committee on Environmental Affairs
1/20/2015