SB220 Alabama 2015 Session

Summary

Primary Sponsor

Bill Hightower

Republican

Session

Regular Session 2015

Title

Energy efficiency projects, financing by local governments authorized, non ad valorem tax assessments, liens, bonds authorized, Property Insurance and Energy Reduction Act of Alabama

Description

This bill would create the Property Insurance and Energy Reduction Act of Alabama to allow a county or municipality to adopt programs to finance, through bonds or notes issued by the governmental entity, necessary improvements to properties in designated regions for the purpose of increasing energy efficiency and resistance to storm-related events, such as high winds and flooding.

This bill would establish the procedures to create a program, provide for the contractual relationship between the local government and the private property owner participating in the program, and would provide that an unpaid contractual assessment under the program would be a lien on the affected property similar to ad valorem tax liens.

Show more Show less

Subjects

Energy