Bill > LB450

This bill amends the Property Assessed Clean Energy (PACE) Act to expand the scope and definitions of energy-related improvements that municipalities can finance for property owners. The bill adds "grid resiliency" as a key focus alongside energy efficiency and renewable energy, introducing new definitions for grid resiliency improvements such as backup power generators, solar panels with battery storage, and smart grid technology. The legislative findings now emphasize that grid resiliency is important for preserving citizens' economic well-being, and the bill broadens the types of qualifying properties and improvements that can be financed through clean energy assessment districts. The amendments provide more detailed requirements for municipalities creating these districts, including provisions for public hearings, contract terms, and specific guidelines for residential property projects. Key requirements include fixed interest rates for residential projects, repayment periods that do not exceed the useful life of the energy project, and mandatory disclosures when properties with existing assessments are sold. The bill aims to encourage economic development, create jobs in the energy sector, and provide municipalities with more flexible tools to support energy efficiency, renewable energy, and grid resilience improvements.

Housing and Urban Affairs

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59047