NC H1292

Creates new energy savings policy for UNC constituent institutions allowing them to retain 60% of realized energy savings for future conservation measures, with remaining funds carried forward to the next fiscal year.

Prohibits the Director of the Budget from decreasing utilities budget recommendations for higher education institutions based on energy savings realized from conservation measures, including guaranteed energy savings contracts.

Requires UNC institutions to submit annual reports on energy savings fund usage and include detailed cost and savings analyses in their management plans submitted to the State Energy Office.

Expands local school boards' authority to use operational leases for school buildings and facilities, defining operational leases as those for new or existing buildings under generally accepted accounting principles.

Effective July 1, 2010, and applies to all contracts entered into on or after that date.