On December 2, 2014, Representative Margaret Conditt (R–Liberty Twp.) introduced H.B. 676, a bill that would change how Ohioans utilize Property Assessed Clean Energy (PACE) financing. PACE financing allows property owners to pay for energy efficiency improvements and renewable energy projects over time via a special assessment on property taxes. Current Ohio law requires property owners to access PACE financing through a modification to the law governing special improvement districts – governmental entities formed to improve and provide services to properties. H.B. 676 would streamline the PACE process, allowing property owners to choose from one of two simplified PACE financing processes. A significant change, the bill would authorize port authorities to serve as the primary local government involved in creating PACE programs. H.B. 676 would also expand the list of projects eligible for PACE financing, harmonizing the list of authorized energy efficiency improvements and renewable energy projects with provisions in Ohio’s utilities laws. For more, read the full text of H.B. 676.
Proposed H.B. 676 streamlines PACE financing process and creates role for port authorities
