S.F. No. 4282 - Property Assessed Clean Energy Program Modifications

• Adds permanent improvements to qualifying farmland as cost-effective energy improvements if they result in improved agricultural productivity or resiliency and reduce environmental impact.

• Expands the definition of qualifying commercial real property to include farmland that can benefit from cost-effective energy improvements after review of an energy audit, renewable energy system feasibility study, or agronomic assessment.

• Maintains existing cost-effective energy improvement categories: commercial property retrofits (with 20-year payback requirement), residential property renovations through utility programs, electrical vehicle charging infrastructure, and solar energy systems (with 20-year payback requirement).

• Requires implementing entities to review agronomic assessments in addition to energy audits and renewable energy system feasibility studies when determining if properties qualify for the program.