Texas House Bill HB70

Texas 2021 - 87th 2nd C.S.

Caption

Relating to the creation of an energy efficiency loan guarantee program under the Texas emissions reduction plan.

Impact

The fundamental impact of HB 70 is its introduction of a structured financial program that seeks to incentivize energy-efficient upgrades to residential properties. By allowing loan guarantees for such improvements, the bill facilitates lower financial barriers for homeowners wishing to implement energy-saving measures. This legislative action is poised to contribute positively to Texas’s overall emissions reduction goals, aligning with broader environmental objectives established in previous regulations. Moreover, with the annual reporting requirement on program effectiveness, the state will actively evaluate and quantify the benefits derived from this initiative regarding energy savings and emissions reductions.

Summary

House Bill 70 aims to establish an energy efficiency loan guarantee program under the Texas emissions reduction plan. This legislative effort focuses on providing financial support for energy efficiency improvements in existing residential properties, specifically targeting residences that are not newly constructed. The program will be administered by the comptroller and the State Energy Conservation Office, ensuring proper oversight and implementation of the loan system. The bill highlights state initiatives to enhance energy efficiency and reduce emissions while promoting sustainable living environments in Texas.

Contention

Despite its potential benefits, discussions surrounding HB 70 may face contention from various stakeholders. Critics might argue the efficiency of the program's guarantee structure, questioning whether it would lead to widespread participation or if it could inadvertently favor wealthier households able to take on loans for improvements. Furthermore, there may be discussions on ensuring that such initiatives do not disproportionately burden lower-income families who may lack access to upfront funding for energy efficiency upgrades. Balancing stakeholder interests and addressing equity concerns will be crucial for the enactment and success of this bill.