General Assembly Substitute Bill No. 451
February Session, 2012 *_____SB00451ET____032812____*
General Assembly
Substitute Bill No. 451
February Session, 2012
*_____SB00451ET____032812____*
AN ACT CONCERNING THE ESTABLISHMENT OF A HEATING FURNACE AND BOILER REPLACEMENT PROGRAM.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Section 16-243v of the general statutes is amended by adding subsection (k) as follows (Effective from passage):
(NEW) (k) (1) As used in this subsection:
(A) "Eligible residential retail end use customer" means any residential customer of an electric distribution company;
(B) "Program loan" means any loan approved by an electric distribution company pursuant to this section that is funded by the systems benefits charge as a program under the Connecticut electric efficiency partner program established pursuant to this section; and
(C) "Program requirements" means the requirements necessary to participate in any program established pursuant to this subsection, including that (i) the total projected direct cost savings to any eligible residential retail end use customer resulting from a heating furnace or boiler replacement, which shall be calculated on an annual basis commencing from the month that the replacement furnace or boiler is projected to be in service, shall be greater than the total cost of the financing over the term of the program loan, (ii) each program loan amount may not exceed eighty per cent of the total installed cost of the replacement heating furnace or boiler, (iii) the term of the program loan shall be the lesser of (I) the simple payback of the program loan plus two years, or (II) ten years, and (iv) the efficiency rating of the replacement furnace or boiler shall meet or exceed federal Energy Star standards.
(2) On or before June 1, 2012, each electric distribution company shall establish and administer a residential customer heating furnace and boiler replacement program to assist eligible residential retail end use customers in financing heating furnace or boiler replacements that meet each program requirement provided in this subsection.
(3) Any eligible residential retail end use customer may apply to the customer's electric distribution company to participate in the program. Such company shall screen each applicant to ensure that such applicant meets the program requirements. Such company shall only accept into the program applicants that meet the program requirements. Such company shall seek to maximize, to the extent practicable, participation in the program.
(4) Each eligible residential retail end use customer participating in the program shall repay the program loan through a monthly charge on such customer's electric bill. Such program loan repayment shall include the principal payment, the interest expense associated with such loan and the expense for any loan default. Any program loan repayment shall be credited to the systems benefits charge. Any cost incurred by an electric distribution company administering the program shall be recovered through the systems benefits charge.
(5) Each eligible residential retail end use customer participating in the program who defaults on any program loan shall be subject to termination of electric service by any electric distribution company administering the program.
(6) Any program loan shall attach to the program loan recipient's residential electric service account for the premises on which the replacement furnace or boiler is located and shall be transferable to subsequent electric service account holders at such premises. Each electric distribution company shall be entitled to take such action as required to secure a program loan, including, but not limited to, attaching liens and requiring filings to be made on applicable land records or as otherwise necessary or required.
(7) Any electric distribution company residential end use customer who resides in an apartment is eligible to participate in the program if (A) such customer meets the program requirements established pursuant to subdivision (1) of this subsection, and (B) the owner or landlord of the apartment in which such customer resides pays a minimum of twenty per cent of the total cost of the furnace or boiler replacement and any additional amount required to meet the program requirements.
This act shall take effect as follows and shall amend the following sections:
Section 1 from passage 16-243v
This act shall take effect as follows and shall amend the following sections:
Section 1
from passage
16-243v
Statement of Legislative Commissioners:
In section 1(k)(1)(B), "Connecticut electric efficiency partners program" was changed to "Connecticut electric efficiency partner program" for statutory consistency; in section 1(k)(1)(C), "the heating furnace" was changed to "a heating furnace" for clarity; in section 1(k)(3), "apply to any" was changed to "apply to the customer's" for clarity; in section 1(k)(6), "the program loan" was changed to "a program loan" for clarity; and in section 1(k)(7), "provided (A) such customer meets any program requirement" was changed to "if (A) such customer meets the program requirements" for clarity and to achieve the intent of the committee.
ET Joint Favorable Subst.
ET
Joint Favorable Subst.