HB 450 proposes a comprehensive overhaul of the existing energy efficiency and clean energy districts statute, replacing it with the Commercial Property Assessed Clean Energy and Resiliency Program (C-PACER). The bill repeals and reenacts RSA 53-F:1, introducing new definitions such as "C-PACER," "qualifying improvement," and "special assessment." It designates the New Hampshire business finance authority or a designated third party as the program administrator responsible for overseeing C-PACER projects. The bill outlines eligible improvements for financing, including energy conservation, clean energy, resiliency, and water conservation, while amending RSA 53-F:2 and RSA 53-F:3 to reflect the transition to the C-PACER program. Notably, it deletes references to "an energy efficiency and clean energy district" and replaces them with broader terms like "the district" and "a district," allowing for program administration across all municipalities.

Additionally, HB 450 establishes specific requirements for municipalities to impose voluntary special assessments for financing energy efficiency improvements, including the necessity of written contracts and consent from mortgage holders. The bill clarifies that assessments cannot be imposed on non-permanently affixed products and mandates that all funding must come from private lenders, secured by a special assessment lien on the property. It introduces eligibility criteria for property owners, such as being current on property taxes and having no involuntary liens exceeding $10,000. The bill also sets a maximum repayment term of 30 years and limits the financed amount to 35% of the property's appraised value or the actual cost of improvements. Overall, HB 450 aims to streamline the financing process for energy-related property improvements while ensuring transparency and consent from property owners.

Statutes affected:
Introduced: 53-F:2, 53-F:3, 53-F:4, 53-F:5