The bill S.138, introduced by Senator Chittenden, aims to expand the eligibility for property-assessed clean energy (PACE) projects to include commercial and industrial buildings, in addition to residential dwellings. The proposed amendments to 24 V.S.A. chapter 87, subchapter 2, specifically allow municipalities to incur debt or finance renewable energy projects for owners of commercial or industrial buildings, as well as residential properties. This change is intended to enhance the scope of PACE programs, enabling more property owners to participate in energy efficiency and renewable energy initiatives.

Key insertions in the bill include the definitions of "commercial or industrial building" and the explicit inclusion of these types of properties in the written agreements for special assessments. The bill also establishes that it will take effect on July 1, 2025. Overall, this legislation seeks to promote renewable energy and energy efficiency by broadening the financial mechanisms available to a wider range of property owners within municipalities.

Statutes affected:
As Introduced: 24-87