SPONSOR: Owen
COMMITTEE ACTION: Voted "Do Pass" by the Standing Committee on Ways and Means by a vote of 6 to 2.
This bill revises the Property Assessment Clean Energy Act by making it inapplicable to residential property. The bill provides guidance for any residential properties approved for the program between January 1, 2022, and August 28, 2025. The bill clarifies that a clean energy development board can acquire loans or assessment contracts from other states and their municipalities and political subdivisions to serve a common purpose of providing financing support or credit enhancement for any project. The bill also changes the maximum financing duration on commercial property assessment clean energy loans from 20 years to 30 years.
This bill is the same as HB 153 (2025) and HCS HB 2756 (2024)
PROPONENTS: Supporters say that this bill revives PACE, and PACE has led to over $1 billion in construction contracts. They state that there are no public dollars involved in PACE, it is all private. Supporters also say that over 95% of the projects are energy efficient projects, and reduce the operational costs of that property, making it attractive to banks. Supporters further say that one of the biggest problems with the residential PACE program was there that there was few consumer protections and very little consideration for repayment of the loan or the rate of the loans. Supports say the bill addresses this.
Testifying in person for the bill were Representative Owen; Mortgage Bankers Association of Missouri; Missouri Energy Initiative; Missouri Bankers Association; Arnie Dienoff; Missouri Clean Energy District.
OPPONENTS: There was no opposition voiced to the committee.
Written testimony has been submitted for this bill. The full written testimony and witnesses testifying online can be found under Testimony on the bill page on the House website.
Statutes affected: