Bill
Bill > H0541
ID H0541
ID H0541Adds 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.
summary
Introduced
02/12/2024
02/12/2024
In Committee
02/13/2024
02/13/2024
Crossed Over
Passed
Dead
04/12/2024
04/12/2024
Introduced Session
2024 Regular Session
Bill Summary
RELATING TO THE COMMERCIAL PROPERTY ASSESSED CAPITAL EXPENDITURE ACT; AMENDING TITLE 67, IDAHO CODE, BY THE ADDITION OF A NEW CHAPTER 38, TI- TLE 67, IDAHO CODE, TO ESTABLISH A SHORT TITLE, TO PROVIDE LEGISLATIVE FINDINGS AND INTENT, TO DEFINE TERMS, TO AUTHORIZE C-PACE VOLUNTARY SPECIAL ASSESSMENTS BY A LOCAL GOVERNMENT, TO AUTHORIZE A LOCAL GOVERN- MENT TO ESTABLISH A C-PACE PROGRAM, TO PROVIDE PROCEDURES TO ESTABLISH A C-PACE PROGRAM, TO PROVIDE C-PACE PROGRAM REQUIREMENTS, TO PROVIDE FOR A C-PACE APPLICATION AND REVIEW PROCESS, TO PROVIDE FOR AUTHORIZED ACTIONS BY A PROPERTY OWNER, TO REQUIRE THE RECORDATION OF CERTAIN DOCU- MENTS, TO PROVIDE FOR THE EFFECT OF RECORDING, TO PROVIDE FOR CONTRACTS WITH OTHER GOVERNMENTAL ENTITIES, TO AUTHORIZE JOINT IMPLEMENTATION OR ADMINISTRATION, TO PROHIBIT CERTAIN ACTIONS BY A LOCAL GOVERNMENT, AND TO PROHIBIT ANY USE OF FULL FAITH AND CREDIT; PROVIDING SEVERABILITY; AND DECLARING AN EMERGENCY AND PROVIDING AN EFFECTIVE DATE.
AI Summary
This bill adds a new chapter to Idaho law to establish the Commercial Property Assessed Capital Expenditure (C-PACE) Act. The bill allows local governments to voluntarily implement C-PACE programs, which enable willing owners of agricultural, commercial, industrial, or multi-family residential properties to obtain low-cost, long-term financing for qualifying improvements that increase energy or water efficiency, support renewable energy, or enhance resilience. The bill outlines the procedures for local governments to establish C-PACE programs, sets program requirements, and provides details on the application and review process, recording of documents, and enforcement of assessments. The bill prohibits local governments from making permits or licenses contingent on property owners participating in the C-PACE program, and states that the state or local governments will not use public funds or pledge their full faith and credit to fund or repay C-PACE loans.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Revenue and Taxation Committee (House)
Last Action
House Revenue & Taxation Committee (09:00:00 2/22/2024 Room EW42) (on 02/22/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2024/legislation/H0541/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/H0541.pdf |
| Fiscal Note/Analysis - Statement of Purpose / Fiscal Note | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2024/legislation/H0541SOP.pdf |
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