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Committee hears debate on on‑bill financing bill; sponsors seek $100M loan from unclaimed‑property trust
Summary
House Bill 12‑68 would seed statewide on‑bill repayment programs with a $100 million loan from the unclaimed property trust fund, enable utility‑administered loans attached to meters, and set consumer protection and disclosure requirements. Treasury, utilities and consumer advocates urged changes.
House Bill 12‑68, a proposal to expand on‑bill financing for residential (and optionally commercial) energy upgrades, drew extensive testimony on Oct. 12 as sponsors described a plan to seed a statewide program with a $100 million interest‑free loan from the state’s unclaimed property trust fund.
Sponsor Representative Joseph told the House Finance Committee the bill would allow the Colorado Energy Office to contract with utilities to offer on‑bill repayment (OBR) programs that finance energy efficiency, electrification and home‑upgrade projects; customers would repay loans via their monthly utility bills. The bill directs the State Treasurer to make an interest‑free loan of $100 million from the unclaimed property trust fund to the Energy Office on Jan. 1, 2026; the loan must be repaid within 20 years.
"OnBill Finance supports the economy by supporting investments in building upgrades and jobs for tradespeople," Colorado Energy Office Executive Director Will Toor said in support. He described OBR as a…
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