Modifies provisions of the "Property Assessment Clean Energy Act"

Summary

The bill replaces several existing sections of the Property Assessment Clean Energy Act with new sections that define assessment contracts, clean‑energy development boards, and PACE programs. It allows municipalities to form boards that can issue bonds, levy special assessments, and finance energy‑efficiency or renewable‑energy projects on non‑residential properties. The changes also require the boards to file annual reports on projects, assessments collected, costs, and estimated energy savings.

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