The bill proposes the repeal of section 8.231 of the Revised Statutes of Missouri and enacts a new section that outlines the framework for guaranteed energy cost savings contracts. It defines key terms such as "energy cost savings measure," "governmental unit," and "qualified provider," and establishes the requirements for governmental units to solicit competitive proposals before entering into such contracts. The bill mandates that these contracts include guarantees from the qualified provider regarding energy or operational cost savings, with provisions for reimbursement in case of shortfalls. Additionally, it allows governmental units to use designated funds for these contracts and requires them to budget for any payments due under these agreements. New provisions in the bill clarify that it does not replace or modify existing statutory or regulatory bidding requirements for construction contracts and that it does not authorize governmental units to undertake new construction or substantial renovations outside the defined energy cost savings measures. Furthermore, it emphasizes that contracts awarded under this section must comply with all applicable procurement procedures, ensuring that the integrity of the bidding process is maintained.

Statutes affected:
Introduced (6373H.01): 8.231