Public contracts of energy efficiency services; extend repealer on authority and certain requirements for.
What changed between versions
Extended the repeal date of the energy efficiency contracting section from July 1, 2025 to July 1, 2028, providing additional time for entities to utilize energy efficiency contracting options.
Added new definition for 'alternative fuel motor vehicle' to clarify what vehicles qualify under energy efficiency provisions.
Added requirement that energy services providers must be approved through a prequalification process by the Energy Division.
Added requirement that entities must publicly issue requests for proposals for energy efficiency services in the same manner as competitive sealed bids.
Added requirement that entities must report energy usage and consumption data to the Energy Division twice yearly.
Added requirement that shared-savings contracts must contain a guarantee of savings clause from the service provider.
Added requirement that the annual interest rate on lease-purchase agreements cannot exceed the maximum rate permitted for general obligation indebtedness.
Added provision that Energy Division can remove qualified status of energy services providers who fail to meet reporting requirements after two violations.
Added authority for the Energy Division to provide financing to entities and nonprofit hospitals for energy efficiency equipment and services.
Added provision that lease-purchase agreements and income from them are exempt from state taxation except gift, transfer and inheritance taxes.
