The bill 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). It repeals and reenacts RSA 53-F:1, introducing new definitions such as "C-PACER," "qualifying improvement," and "special assessment." The bill establishes a program administrator, either the New Hampshire business finance authority or a designated third party, to oversee C-PACER projects. It outlines eligible improvements for financing, including energy conservation, clean energy, resiliency, and water conservation, while allowing municipalities to impose voluntary special assessments to fund these projects. The bill also deletes references to "energy efficiency and clean energy" in favor of broader terms, facilitating the designation of areas for the new program.

Additionally, HB 450 introduces significant changes to the financing and assessment processes, including the replacement of "loan" with "lien" to clarify that financial obligations will run with the property. It mandates that municipalities execute and record notices of assessment and lien, ensuring property owners are aware of their obligations. The bill sets eligibility criteria for property owners, including the requirement for current property taxes and limits on involuntary liens. It establishes a maximum repayment term of 30 years and specifies that financing cannot exceed 35% of the appraised property value or the actual cost of improvements. The act is set to take effect on January 1, 2026, and aims to streamline the financing process for energy efficiency improvements while ensuring proper consent and financial arrangements are in place.

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