Energy efficiency; modification to performance based efficiency contracts and projects. Effective date.
Impact
The modifications proposed by SB1799 would have significant implications for how state agencies and school districts manage their energy resources. By establishing clearer guidelines on performance-based contracts, the bill seeks to facilitate the easier implementation of energy conservation measures. The changes made to the definitions and terms set forth in the bill would potentially encourage more aggressive adoption of energy-saving technologies in public facilities, leading to reduced utility costs over time.
Summary
Senate Bill 1799 aims to amend existing statutes related to energy efficiency in Oklahoma, specifically focusing on the criteria and regulations governing performance-based efficiency contracts. This includes defining energy conservation measures, which involve various improvements and retrofits to public buildings that are designed to lower energy consumption and operational costs. Such measures may include advances in insulation, heating, ventilation, and air conditioning systems, as well as energy-efficient lighting and air quality improvements.
Contention
Some points of contention could arise regarding the provisions that ensure performance and savings guarantees from the contractors. The bill requires that a contractor must guarantee the cost savings achieved through the implemented measures, which can subject the providers to financial risk. Furthermore, the stipulations about tracking savings, annual reports, and the potential for lease-purchase agreements might bring concerns over the fiscal responsibility of school districts and the adequacy of defined energy savings calculations.
Relating to the regulation of funding agreements, guaranteed investment contracts, and synthetic guaranteed investment contracts issued by a life insurer; clarifying certain provisions relating to insurer receivership.
Relating to the regulation of funding agreements, guaranteed investment contracts, and synthetic guaranteed investment contracts issued by a life insurer.
Consumer protection: other; guaranteed asset protection waiver act; modify and update to the motor vehicle financial protection products act. Amends title & secs. 1, 3, 5, 7, 9 & 11 of 2009 PA 229 (MCL 492.21 et seq.); adds secs. 3a, 4 & 9a & pts. 5 & 9; designates sec. 1 as pt. 1, sec. 3 as pt. 2, sec. 3a as pt. 3, secs. 4, 5, 7, 9 & 9a as pt. 4 & sec. 11 as pt. 6 & repeals sec. 13 of 2009 PA 229 (MCL 492.33). TIE BAR WITH: SB 0344'23, SB 0345'23, SB 0346'23, SB 0347'23