Texas House Bill HB3363

Texas 2015 - 84th Regular

Caption

Relating to authorizing local government programs to provide assessments for residential water and energy improvements in designated regions, including authorizing the issuance of obligations to provide financing for the programs; authorizing a fee.

Impact

The impact of HB3363 on state laws relates primarily to the financing mechanisms for energy and water efficiency upgrades. Specifically, it enables local governments to utilize tax assessments to fund improvements, thereby incentivizing homeowners to invest in sustainable upgrades. The bill effectively creates a framework that allows for the financing of improvements via bonds, which secures repayment through contractual assessments embedded in property taxes. Consequently, this could lead to increased rates of home renovations that adhere to energy conservation standards, enhancing community resilience and environmental sustainability.

Summary

House Bill 3363 introduces the Residential Property Assessed Clean Energy (R-PACE) Act, which authorizes local governments in Texas to establish programs that enable financing for residential water and energy improvements. The bill amends the Government Code to include provisions for local government programs that provide assessments for these improvements through contractual assessments on real property, facilitating the issuance of bonds to fund such programs. This allows homeowners to make energy-efficient modifications and improvements without the immediate financial burden, as costs can be repaid over time via property assessments.

Contention

Notable points of contention surrounding HB3363 include concerns regarding the financial implications for local governments and property owners. Critics may question the feasibility and safety of such financing models, particularly around the long-term viability of assessments and the potential for increased tax burdens on homeowners. Furthermore, the bill mandates that local governments cannot compel property owners into participation, which may lead to disparities in access to these beneficial programs. The question of affordability and equitable access to funding for energy-retrofitting projects also remains a critical discussion point amongst lawmakers and the public.