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Senate Bill 0260


Senate Bill 0260

ARCHIVE (2011)

Latest Information

 

DIGEST OF SB260 (Updated February 22, 2011 5:48 pm - DI 84)


Clean energy improvement financing district. Allows the legislative body of a unit (other than a township) to establish a clean energy improvement financing program to fund clean energy improvements for voluntary participants in the program. Requires financing to come from private equity or federal grants or loans. Prohibits the legislative body from issuing bonds to finance clean energy improvements. Provides that the payment period of a special assessment on a participating property may not exceed the useful life of the clean energy improvement. Provides that assessments are: (1) billed and collected in the same manner as property taxes; and (2) enforced as a lien subject to all liens and encumbrances existing on the property on the date of the initial assessment.
    Current Status:
     In Committee - 2nd House
    Latest Printing (PDF)