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House Co-Sponsorship Memoranda
House of Representatives
Session of 2017 - 2018
Regular Session
MEMORANDUM
| Posted: | January 19, 2017 01:08 PM |
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| From: | Representative John T. Galloway |
| To: | All House members |
| Subject: | Property Assessed Clean Energy (PACE) – Re-Introduction |
| In the near future, I will be re-introducing legislation (House Bill 2380) that would provide for the implementation of a Property Assessed Clean Energy (PACE) program in Pennsylvania for residential and commercial property owners. Under this legislation, the PACE program would allow municipalities and municipal authorities in Pennsylvania to operate a financing program in accordance with the requirements of this act. More specifically, my legislation would give these entities the ability to offer public or private funds for sustainable energy project loans to eligible property owners in their jurisdiction. This funding could be made available to property owners for the financing of renewable onsite generation installations and energy efficiency improvements that would be paid back through a voluntary assessment on the tax bill associated with the property. As such, the benefits and liability would be amortized and tied to the property itself once the improvements are completed and not become a personal liability of the property owner should they choose to sell the property before the investment is recouped. Qualifying improvements in one of these programs could include solar panel installation, energy efficiency projects, and infrastructure improvements to reduce water consumption. According to the website, www.PACENow.org, PACE-enabling legislation is active in 33 states and D.C. with launched and operating PACE programs in over 15 states. PACE programs are an important tool for municipalities and municipal authorities to stimulate the local green economy, while providing a competitive financing program for commercial and residential property owners. These programs may be offered with little, if any, investment of general fund monies and, therefore, present a very low monetary risk for the participating governmental entity. I hope you will join me in supporting this important measure. |
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| View Attachment | ||
Introduced as HB996