Bill > HB120

This bill revises the Commercial Property-Assessed Capital Enhancements (CPACE) program by expanding the definition of "multifamily housing facility" to more precisely describe residential properties eligible for the program. Specifically, the bill defines a multifamily housing facility as a property with at least five residential units, each containing a full bathroom and complete kitchen, which can be either rental or owner-occupied and may be attached, detached, semidetached, or row houses. The bill also makes several technical changes to the existing law, including renumbering definitions and slightly modifying the definition of "real property" to explicitly include multifamily housing facilities. The changes are designed to provide clearer guidelines for property owners and local governments participating in the CPACE program, which helps finance energy conservation and renewable energy improvements for commercial, industrial, and now more clearly defined multifamily residential properties. The bill takes effect immediately upon passage and approval, allowing for prompt implementation of the updated definitions and program parameters.

Government Affairs

https://bills.legmt.gov/#/laws/bill/2/LC0222