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House approves voluntary municipal financing program for commercial energy upgrades
Summary
Senate Bill 221 creates a voluntary municipal assessment-area financing option to help commercial property owners finance energy-efficiency projects; sponsors said the program is optional, lender-driven, and places loan risk with lenders, and the House passed it 70–3.
The Utah House passed Senate Bill 221 by a 70–3 margin, creating a voluntary assessment-area financing option municipal governments may use to enable property-level loans for energy-efficiency improvements in commercial buildings.
Representative Froehler, the sponsor, said the measure expands the existing Assessment Area Act to include energy-improvement projects and uses the same municipal process currently applied to infrastructure…
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