Connecticut House Bill HB06995

Connecticut 2015 Regular Session

• Introduced: 3/10/15
• Refer: 3/10/15

Caption

An Act Concerning A Residential Property Assessed Clean Energy Program.

Impact

One of the key impacts of HB 06995 on state laws is its establishment of a framework for property assessments linked to energy improvements. This legislation will authorize municipalities to enter into contracts with property owners allowing for benefit assessments as a means to fund energy retrofits. Should homeowners default on their payments, the assessments will constitute a lien on the property until paid, which can ultimately involve foreclosure processes similar to those used for unpaid property taxes. This legal underpinning is designed to incentivize energy efficiency while also protecting the financial interests of municipalities and lenders involved in the program.

Summary

House Bill 06995, also known as the Act Concerning A Residential Property Assessed Clean Energy Program, aims to facilitate energy improvements in residential properties across the state. This bill allows municipalities to implement a residential sustainable energy program to help homeowners finance the installation of energy efficiency renovations and renewable energy systems. The financing for these improvements will be secured through property assessments, which will be levied against the qualifying residential property. Homeowners will have the option to pay these assessments in installments, similar to property taxes.

Contention

The bill has faced various points of contention primarily surrounding the implications of placing a lien on residential properties. Critics worry that such measures could deter homeowners from participating, particularly if they are unaware of the risks associated with these financing options, such as potentially impairing their ability to refinance existing debts or sell their homes. Advocates for the bill argue that the long-term benefits of energy improvements and cost savings for homeowners outweigh these concerns, positing that enhanced energy efficiency equates to broader community benefits, including reduced energy costs and environmental impacts. Overall, the bill aims to mitigate these concerns by mandating disclosures about the financing agreements and associated risks to ensure homeowners make informed decisions.