The bill proposes amendments to "The Green Buildings Act," specifically updating definitions and adding new ones to clarify the law's scope. It introduces terms such as "Commercial building," "Energy performance rating or assessment score," "Energy use benchmarking tool," and others. The bill also adds a new section, 37-24-7, which requires the office to conduct energy use benchmarking for large buildings to compare energy usage and greenhouse gas emissions, aiming to improve energy efficiency and reduce emissions. The office is responsible for providing a benchmarking tool and technical support, and building owners must report energy consumption annually starting in 2024.

Furthermore, the bill outlines the establishment of energy performance standards for large buildings, with a phased implementation schedule based on building size. It specifies compliance pathways for building owners, including a minimum 20% reduction in energy use or emissions over five years, with a goal of an 80% reduction by 2040. The bill allows for exemptions, requires coordination with utility companies for incentive programs, and permits municipalities to enforce their own benchmarking programs. It also introduces alternative compliance payments and fines for noncompliance, with the funds collected used to administer the bill's objectives. The bill would take effect upon passage.

Statutes affected:
5425: 37-24-3