SB 147 by Senator Mary McNally (D) will establish a commercial property assessed capital enhancements program (C-PACE) in Montana that will be administered by local governments. C-PACE is a financing tool that allows property owners to secure all of the upfront costs of financing for energy efficiency, water conservation, and renewable energy upgrades for commercial property. The property owners then repay the upfront costs over a period of twenty years. For many business owners, it is challenging to afford all of the upfront costs to upgrade their buildings. A C-PACE program makes these efforts much less challenging and ensures that the costs are paid back. In fact, this type of financing has been used for private property that serves a public purpose (i.e., water and sewer systems, sidewalks, and street lighting).
SB 147 has passed the Senate and has moved to the House. No hearing is scheduled yet.
Conor Ploeger, email@example.com