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Senate Bill 385 |
Senate Author: Carona |
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Effective: 6-14-13 |
House Sponsor: Keffer |
Senate Bill 385 establishes the Property Assessed Clean Energy Act in the Local Government Code to provide for the establishment of a program by a municipality or county that allows the municipality or county to enter into a written contract with a record owner of real property in a designated region to impose an assessment to repay the owner's financing of a qualified project on the owner's property. The bill provides for financing by a third party or the local government. The bill defines a qualified project as the installation or modification of a permanent improvement fixed to real property and intended to decrease water or energy consumption or demand. The bill limits its scope to privately owned commercial or industrial real property or residential real property with five or more dwelling units.
Senate Bill 385 sets out provisions regarding the designation of a region and the procedure for the establishment of a program and authorizes the local government to impose certain fees to offset the costs of administering the program. The bill sets out additional provisions relating to, among other things, a required report for a proposed program and a required review for each proposed qualified project. The bill establishes that a contractual assessment under its provisions and any interest or penalties on the assessment is a first and prior lien against the real property on which the assessment is imposed, authorizes the local government to issue bonds or notes to finance qualified projects, and provides for the joint implementation of a program by a combination of local governments.