capital improvement; financing program

Summary

The bill authorizes local governments to set up commercial‑property assessed capital expenditure (C‑PACE) programs, letting property owners fund eligible upgrades through special assessments. It defines which improvements and properties qualify and bars municipalities from directly providing the financing. Private capital providers can supply the funds while the local government handles the assessment and collection process.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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