Montana businesses and organizations often face high utility bills due to old or inefficient structures in need of efficiency upgrades, but the upfront cost of these upgrades can pose a financial challenge.
SB 245 offers a Commercial Property Assessed Clean Energy (C-PACE) program to overcome this financing gap, generating economic development and jobs and saving money in the long run. It allows property owners to make energy and water efficiency upgrades to their properties using 100% upfront financing from private capital lenders who opt-into the program. C-PACE financing uses the same system we use to finance streetlights, sidewalks, parks—as an assessment on the annual property tax bill.
The program allows finance terms of up to 20 years, so property owners are cash flow positive from the start.
This is a voluntary program.
Passed the Senate Energy Committee on a 13-0 vote. Passed the Senate Floor on a 35-15 vote. The bill was heard in the House Taxation Committee on April 8th, and awaits a vote in that committee.
Tabled in the House Taxation Committee, likely dead.