This bill proposes updates to current statutes by establishing a Commercial Property Assessed Capital Expenditure (C-PACE) program, which would allow cities and towns to facilitate capital improvements for water and energy conservation on qualifying properties. The bill introduces new definitions for key terms such as "C-PACE program," "qualifying improvement," and "special assessment," while clarifying that local governments cannot directly finance these improvements. It also outlines new procedures for the establishment and administration of C-PACE programs, including public hearings, resolutions, and the roles of local program authorities and capital providers in managing special assessments.

Additionally, the bill modifies existing statutes related to the sale of properties due to delinquent special assessments. It requires local program authorities to send a notice to property owners and lien claimants at least ten days before a sale, detailing the sale date and amounts due. The bill introduces a structured redemption process and mandates that purchasers notify all interested parties before applying for a deed. It also clarifies the evidentiary weight of deeds issued by local authorities and establishes proof of mailing requirements for notices, ensuring that the sale process is transparent and protects the rights of property owners and lien claimants.

Statutes affected:
Introduced Version: 9-499.19, 11-201, 49-1601, 11-401, 11-251.05