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Panel approves CPACE enabling bill to help commercial property owners finance efficiency and infrastructure upgrades
Summary
HB 28‑24 would allow local governments to establish CPACE financing for qualifying commercial properties; proponents said CPACE leverages private capital for energy and water efficiency and imposes no state financial exposure. Committee passed the bill unanimously.
House Bill 28‑24 would authorize cities and counties to adopt Commercial Property Assessed Capital Expenditure (CPACE) programs to allow voluntary, special‑assessment financing for qualifying capital improvements on commercial and industrial properties. Proponents, including representatives of Rose Law Group and Walton Global, said CPACE provides market‑rate capital for infrastructure improvements such as energy‑efficiency upgrades, water conservation projects and other long‑term investments.
Cole Scribe (Rose Law Group) called the bill enabling legislation and said the program is opt‑in. Walton Global representatives described Arizona’s competitive position, saying dozens of other states already have CPACE. Shane Doherty said CPACE can be used on leased land with property‑owner agreement and that it helps attract data centers, advanced manufacturing and other industry.
Committee members asked technical questions about lease land eligibility and the mechanics of assessments; witnesses confirmed leased land projects are feasible with owner agreement. The committee moved and passed HB 28‑24 by voice vote; the clerk recorded seven ayes and the bill was advanced.
Next steps: municipal governments that opt in would create local programs and agreements to administer CPACE financing.
