HOUSE BILL 541
Coml property, capital expenditure
COMMERCIAL PROPERTY – Adds to existing law to establish the Commercial Property Assessed Capital Expenditure Act to allow willing owners of certain properties to obtain financing for qualifying improvements.
RS30971 / H0541
Commercial property-assessed clean energy (CPACE) is a financing structure in which commercial building owners borrow money for certain energy and water-related projects and make repayments via an assessment on their property tax bill. The financing arrangement then remains with the property even if it is sold, facilitating long-term investments in building performance. CPACE is funded by private investors and administered by local government. Local governments, lenders, and commercial building owners must enter this program voluntarily. There is no impact on property taxpayers.
| Date | Description |
|---|---|
| 02/12 | Introduced, read first time, referred to JRA for Printing |
| 02/13 | Reported Printed and Referred to Revenue & Taxation |