Posted: | September 26, 2013 01:38 PM |
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From: | Senator Matt Smith |
To: | All Senate members |
Subject: | Municipal Financing of Consumer Energy Projects Loan Program |
In the near future, I intend to introduce legislation that would establish a Municipal Financing of Consumer Energy Projects Loan Program. My legislation would allow municipalities to make loans to commercial real estate owners so they can retrofit their property with energy efficient technology. The loan would be paid back as an assessment on their property taxes over 20 years. The initial fund would be created by a municipal bond issuance. Thereafter, it would operate as a revolving fund. While a tremendous amount of money can be saved from having energy efficient technology installed, the upfront cost remains a concern. My legislation provides a common sense, market-driven, and voluntary solution to that upfront cost and allows commercial property owners to enjoy in the savings that energy efficient technology can bring. There are currently 18 states (plus the District of Columbia) that have established similar programs. If you have any questions or comments, please contact Max Flessner in my office at mflessner@pasenate.com or 717.787.5839. I hope you’ll join me in sponsoring this critical legislation. |
Introduced as SB1352