SB 1237 Summary

• Amends 62 O.S. 2011, Section 318 to expand the definition of "performance-based efficiency contract" to include water conservation measures, metering equipment for billable revenue accuracy, and automated control systems that reduce operating costs.

• Adds "public utility system" as an eligible facility type for performance-based efficiency improvements alongside buildings and other infrastructure.

• Modifies measurement and verification requirements by allowing public entities to discontinue annual M&V services and associated performance guarantees after the first three years of a contract.

• Requires performance-based efficiency contracts involving metering equipment to test a statistically relevant sample of installed meters no later than the fifth anniversary of the contract effective date.

• Declares an emergency for immediate implementation upon passage and approval.