Senate Bill 92 Summary

• Amends Oklahoma law governing performance-based efficiency contracts between public entities and qualified providers for energy conservation and facility improvements.

• Requires state governmental entities proposing efficiency contracts to consult with the State Bond Advisor to determine the most cost-effective financing options, including publicly or privately placed bonds, notes, or other obligations.

• Mandates state governmental entities entering into financing secured by efficiency contracts to report outstanding lease or contract amounts annually to the State Bond Advisor for inclusion in the annual report on state obligations.

• Guarantees that contract cost savings must be measured, verified, and documented annually, with reimbursement to the public entity for any shortfall in guaranteed savings.

• Effective date: November 1, 2015.