Amendments for HB25-1268
House Journal, March 21
1 HB25-1268 be amended as follows, and as so amended, be referred to
2 the Committee on Finance with favorable
3 recommendation:
4
5 Amend printed bill, strike everything below the enacting clause and
6 substitute:
7
8 "SECTION 1. In Colorado Revised Statutes, add part 6 to article
9 38.5 of title 24 as follows:
6 10 PART
11 UTILITY ON-BILL PROGRAM
12 24-38.5-601. Legislative declaration. (1) THE GENERAL
13 ASSEMBLY FINDS THAT COLORADO CONSUMERS HAVE THE POTENTIAL TO
14 SAVE ENERGY, REDUCE GREENHOUSE GAS EMISSIONS, AND TRANSITION
15 AWAY FROM FOSSIL FUEL INFRASTRUCTURE THROUGH ENERGY SOLUTIONS,
16 INCLUDING ENERGY EFFICIENCY MEASURES, ELECTRIFICATION MEASURES,
17 AND ENERGY UPGRADES.
18 (2) THEREFORE, THE GENERAL ASSEMBLY DECLARES THAT:
19 (a) UTILITY CUSTOMERS WOULD BENEFIT FROM HAVING ACCESS TO
20 SIGNIFICANT AMOUNTS OF PUBLIC AND PRIVATE CAPITAL FOR LOW-COST
21 FINANCING SOLUTIONS FOR ENERGY-RELATED IMPROVEMENTS, INCLUDING
22 END-OF-LIFE EQUIPMENT REPLACEMENT;
23 (b) UTILITY ON-BILL PROGRAMS THAT ALLOW REPAYMENTS
24 THROUGH UTILITY BILL PAYMENTS COULD EXPAND THE OPPORTUNITIES
25 FOR ELIGIBLE RETAIL UTILITY CUSTOMERS TO PURSUE ENERGY EFFICIENCY
26 MEASURES, ELECTRIFICATION MEASURES, AND ENERGY UPGRADES BY
27 ENABLING UTILITY CUSTOMERS TO PAY BACK THE UP-FRONT COSTS OF THE
28 UPGRADES AND MEASURES OVER TIME THROUGH THEIR UTILITY BILL
29 PAYMENTS AT OR BELOW INTEREST RATES THAT MAY BE AVAILABLE FROM
30 OTHER SOURCES; AND
31 (c) A PROGRAM ESTABLISHED TO PROVIDE SUCH ON-BILL
32 REPAYMENT COULD INCLUDE UTILITY-ADMINISTERED REPAYMENT OF
33 COSTS FOR WHICH THE REPAYMENT OBLIGATION REMAINS WITH THE
34 ASSOCIATED ENERGY METER AND SERVICE ADDRESS, INSTEAD OF
35 TRANSFERRING TO A CUSTOMER'S NEW LOCATION.
36 24-38.5-602. Definitions. AS USED IN THIS PART 6, UNLESS THE
37 CONTEXT OTHERWISE REQUIRES:
38 (1) "COMMISSION" MEANS THE PUBLIC UTILITIES COMMISSION
39 CREATED IN SECTION 40-2-101.
40 (2) "COOPERATIVE ELECTRIC ASSOCIATION" HAS THE MEANING SET
41 FORTH IN SECTION 40-9.5-102 (1).
42 (3) (a) "ELECTRIFICATION" MEANS "BENEFICIAL ELECTRIFICATION",
43 AS DEFINED IN SECTION 40-1-102 (1.2).
44 (b) "ELECTRIFICATION" INCLUDES:
45 (I) A GROUND-SOURCE OR AIR-SOURCE HEAT PUMP SYSTEM; AND
46 (II) A HEAT PUMP WATER HEATER.
47 (4) (a) "ENERGY EFFICIENCY MEASURE" MEANS ANY
48 PERMANENTLY INSTALLED IMPROVEMENT, ADDITION, OR EQUIPMENT THAT
49 ALIGNS WITH THE STATE'S GREENHOUSE GAS REDUCTION TARGETS AND
50 THAT:
51 (I) REDUCES THE CONSUMPTION OF ENERGY AT A PROGRAM
52 PARTICIPANT'S PREMISES; OR
53 (II) ENABLES A PROGRAM PARTICIPANT TO REDUCE OR SHIFT
54 ENERGY CONSUMPTION AT THE PREMISES.
55 (b) "ENERGY EFFICIENCY MEASURE" INCLUDES:
1 (I) A BUILDING SHELL MEASURE, SUCH AS AIR SEALING, WINDOW
2 FILM, ROOF REPAIR, INSULATION, OR WINDOW AND DOOR MODIFICATIONS;
3 (II) AN AUTOMATIC OR INTERNET-CONNECTED ENERGY CONTROL
4 SYSTEM; AND
5 (III) ANY OTHER MEASURE OR UPGRADE AUTHORIZED BY THE
6 OFFICE OR APPROVED BY THE COMMISSION AS PART OF A UTILITY'S
7 APPLICATION TO ESTABLISH AN ON-BILL PROGRAM OR TO USE MONEY FROM
8 THE FUND.
9 (5) "ENERGY UPGRADE" MEANS THE INSTALLATION,
10 IMPROVEMENT, OR ADDITION OF APPURTENANCE EQUIPMENT AT A
11 PROGRAM PARTICIPANT'S PREMISES TO:
12 (a) UPGRADE THE PROGRAM PARTICIPANT'S ELECTRIC PANEL TO
13 ENABLE THE INSTALLATION OF ENERGY EFFICIENCY MEASURES OR
14 ELECTRIFICATION MEASURES;
15 (b) ENABLE THE PROGRAM PARTICIPANT TO INSTALL ENERGY
16 STORAGE; OR
17 (c) MAKE ANY OTHER ENERGY UPGRADE AUTHORIZED BY THE
18 OFFICE OR APPROVED BY THE COMMISSION AS PART OF A UTILITY'S
19 APPLICATION TO ESTABLISH AN ON-BILL PROGRAM.
20 (6) "OFFICE" MEANS THE COLORADO ENERGY OFFICE CREATED IN
21 SECTION 24-38.5-101 (1).
22 (7) "ON-BILL CASH FUND" OR "FUND" MEANS THE ON-BILL CASH
23 FUND CREATED IN SECTION 24-38.5-607.
24 (8) "ON-BILL PROGRAM" MEANS A UTILITY'S PROGRAM THAT
25 RECEIVES MONEY FROM THE ON-BILL CASH FUND PURSUANT TO THIS PART
26 6 AND THROUGH WHICH PROGRAM THE COSTS OF ENERGY EFFICIENCY
27 MEASURES, ELECTRIFICATION MEASURES, AND ENERGY UPGRADES
28 INSTALLED AT A PROGRAM PARTICIPANT'S PREMISES ARE ASSOCIATED
29 WITH THE UTILITY METER AND ARE REPAID THROUGH MONTHLY UTILITY
30 BILL PAYMENTS.
31 (9) "PARTICIPATING UTILITY" MEANS A UTILITY THAT RECEIVES
32 MONEY THROUGH THE PROGRAM, EITHER DIRECTLY THROUGH A LOAN
33 FROM THE OFFICE OR THROUGH PARTICIPATION IN A PROGRAM
34 ADMINISTERED BY THE PROGRAM ADMINISTRATOR.
35 (10) "PROGRAM ADMINISTRATOR" MEANS A THIRD-PARTY ENTITY
36 THAT THE OFFICE MAY CONTRACT WITH TO PLAN, ADMINISTER, OPERATE,
37 AND MANAGE A UTILITY ON-BILL PROGRAM FOR PARTICIPATING UTILITIES
38 THAT VOLUNTARILY CHOOSE TO CONTRACT WITH THE PROGRAM
39 ADMINISTRATOR AS THEIR UTILITY-DESIGNATED ADMINISTRATOR.
40 (11) "PROGRAM PARTICIPANT" MEANS A PARTICIPATING UTILITY
41 CUSTOMER THAT HAS REQUESTED TO PARTICIPATE IN A PARTICIPATING
42 UTILITY'S ON-BILL PROGRAM AND THAT THE PARTICIPATING UTILITY,
43 EITHER DIRECTLY OR THROUGH ITS UTILITY-DESIGNATED ADMINISTRATOR,
44 HAS DETERMINED IS ELIGIBLE FOR PROGRAM PARTICIPATION.
45 (12) "UNCLAIMED PROPERTY TRUST FUND" MEANS THE
46 UNCLAIMED PROPERTY TRUST FUND CREATED IN SECTION 38-13-801.
47 (13) "UTILITY" MEANS AN ELECTRIC UTILITY, A GAS UTILITY, OR A
48 COMBINED FUEL UTILITY AND INCLUDES:
49 (a) AN INVESTOR-OWNED UTILITY;
50 (b) A COOPERATIVE ELECTRIC ASSOCIATION; AND
51 (c) A MUNICIPALLY OWNED UTILITY.
52 (14) (a) "UTILITY-DESIGNATED ADMINISTRATOR" MEANS A
53 THIRD-PARTY ENTITY THAT A UTILITY MAY CONTRACT WITH TO PLAN,
54 ADMINISTER, OPERATE, AND MANAGE THE UTILITY'S ON-BILL PROGRAM.
55
1 (b) "UTILITY-DESIGNATED ADMINISTRATOR" INCLUDES THE
2 PROGRAM ADMINISTRATOR, AS APPLICABLE.
3 24-38.5-603. On-bill programs - participation process -
4 reporting. (1) FOR THE PURPOSE OF ALLOCATING MONEY TO PROVIDE
5 CAPITAL FOR PARTICIPATING UTILITIES' ON-BILL PROGRAMS, THE OFFICE
6 SHALL ESTABLISH A PROCESS THROUGH WHICH A UTILITY MAY REQUEST TO
7 BECOME A PARTICIPATING UTILITY. THE OFFICE MAY DESIGN REQUEST
8 FORMS OR GUIDANCE DOCUMENTS FOR THE PROCESS AND SHALL POST ANY
9 SUCH FORMS AND GUIDANCE DOCUMENTS ON ITS PUBLIC WEBSITE.
10 (2) PURSUANT TO AN AGREEMENT BETWEEN THE OFFICE AND A
11 PARTICIPATING UTILITY, THE PROGRAM ADMINISTRATOR, OR A
12 UTILITY-DESIGNATED ADMINISTRATOR, MONEY PROVIDED TO THE UTILITY
13 TO HELP ESTABLISH OR CONTINUE THE UTILITY'S ON-BILL PROGRAM MAY
14 BE USED TO SUPPORT ENERGY EFFICIENCY MEASURES, ELECTRIFICATION
15 MEASURES, AND ENERGY UPGRADES AT A PROGRAM PARTICIPANT'S
16 PREMISES THAT ARE LOCATED AND REMAIN IN THE UTILITY'S SERVICE
17 TERRITORY.
18 (3) (a) THE OFFICE MAY ISSUE GUIDANCE ON PROGRAM
19 REQUIREMENTS OR PLACE CONTRACT LIMITATIONS ON THE USE OF LOANS
20 FROM THE FUND, AS APPROPRIATE, FOR DEVELOPMENT, IMPLEMENTATION,
21 AND UPDATES OF CONSUMER PROTECTION AND EQUITY REQUIREMENTS TO
22 ENSURE THE SUCCESS OF THE PROGRAM, WHILE BALANCING:
23 (I) RISK TO LENDERS, UTILITIES, AND CUSTOMERS;
24 (II) EQUITY;
25 (III) REPAYMENT TERMS; AND
26 (IV) UTILITY BILL IMPACTS FOR PROGRAM PARTICIPANTS.
27 (b) THE OFFICE SHALL CONSULT WITH A PARTICIPATING UTILITY'S
28 UTILITY-DESIGNATED ADMINISTRATOR OR A PROGRAM ADMINISTRATOR
29 SELECTED BY THE OFFICE PURSUANT TO SECTION 24-38.5-604, AS
30 APPROPRIATE, IN DEVELOPING GUIDANCE ON PROGRAM REQUIREMENTS,
31 INCLUDING CONSUMER PROTECTION AND EQUITY REQUIREMENTS, WHICH
32 REQUIREMENTS MAY INCLUDE:
33 (I) THE RATE CLASSES OF UTILITY CUSTOMERS THAT MAY
34 PARTICIPATE IN THE UTILITY'S ON-BILL PROGRAM, WHICH RATE CLASSES
35 MUST, AT A MINIMUM, INCLUDE RESIDENTIAL CUSTOMERS;
36 (II) THE ENERGY EFFICIENCY MEASURES, ELECTRIFICATION
37 MEASURES, AND ENERGY UPGRADES THAT THE UTILITY MAY AUTHORIZE
38 A PROGRAM PARTICIPANT TO FINANCE THROUGH AN ON-BILL PROGRAM;
39 (III) A CAP ON THE TOTAL FINANCING THAT MAY BE MADE
40 AVAILABLE TO A RESIDENTIAL UTILITY CUSTOMER, NOT TO EXCEED FIFTY
41 THOUSAND DOLLARS;
42 (IV) FOR UTILITIES THAT ARE NOT REGULATED BY THE
43 COMMISSION, THE METHOD THAT A PARTICIPATING UTILITY MAY USE TO
44 RECOVER PROGRAM ADMINISTRATION COSTS;
45 (V) A REQUIREMENT THAT, FOR CONTRACTS WITH REGULATED
46 UTILITIES, THE FINAL CONTRACT CONFORMS WITH ANY FINAL APPROVAL
47 FROM THE COMMISSION; AND
48 (VI) REQUIREMENTS REGARDING TRANSFERS OF FINANCIAL
49 RESPONSIBILITY WHEN AN OWNER OR TENANT VACATES A BUILDING
50 SUBJECT TO A UTILITY'S ON-BILL PROGRAM, INCLUDING:
51 (A) REQUIREMENTS REGARDING THE RECORDING OF A LIEN AND
52 THE CLEARING OF TITLE UPON REPAYMENT;
53
1 (B) A REQUIREMENT THAT A PROPERTY OWNER THAT IS A
2 PROGRAM PARTICIPANT SHALL AGREE TO NOTIFY A PROSPECTIVE
3 PURCHASER OF THE PROPERTY SUBJECT TO AN ON-BILL PROGRAM OF ANY
4 REPAYMENT OBLIGATIONS ON THE UTILITY BILL RELATED TO THE
5 PARTICIPATION IN THE PROGRAM; AND
6 (C) A REQUIREMENT THAT A PROPERTY OWNER THAT IS A
7 PARTICIPATING CUSTOMER OR IS THE OWNER OF A PROPERTY FOR WHICH
8 THERE IS AN EXISTING REPAYMENT OBLIGATION ON THE UTILITY BILL
9 RELATED TO PARTICIPATION IN A PROGRAM SHALL AGREE TO NOTIFY A
10 PROSPECTIVE TENANT OF THE ON-BILL REPAYMENT OBLIGATION.
11 (4) THE OFFICE MAY PLACE CONTRACT LIMITATIONS ON THE USE
12 OF LOANS FROM THE FUND, AS APPROPRIATE, FOR THE DEVELOPMENT,
13 IMPLEMENTATION, AND UPDATES OF CONSUMER PROTECTION AND EQUITY
14 REQUIREMENTS TO ENSURE THE SUCCESS OF THE PROGRAM, WHILE
15 BALANCING RISK TO LENDERS, UTILITIES, AND CUSTOMERS; EQUITY;
16 REPAYMENT TERMS; AND UTILITY BILL IMPACTS FOR PROGRAM
17 PARTICIPANTS. THE OFFICE SHALL CONSULT WITH THE PARTICIPATING
18 UTILITY, THE PARTICIPATING UTILITY 'S UTILITY-DESIGNATED
19 ADMINISTRATOR, OR A PROGRAM ADMINISTRATOR SELECTED BY THE
20 OFFICE PURSUANT TO SECTION 24-38.5-604, AS APPROPRIATE, IN
21 DEVELOPING THE CONSUMER PROTECTION AND EQUITY REQUIREMENTS,
22 WHICH REQUIREMENTS MAY INCLUDE:
23 (a) QUALITY INSTALLATION VERIFICATION, INCLUDING THE
24 CERTIFICATIONS AND RELATED ENFORCEMENT MECHANISMS NEEDED TO
25 ENSURE AND VERIFY QUALITY INSTALLATIONS;
26 (b) PROCEDURES FOR ADDRESSING FAILING EQUIPMENT;
27 (c) VENDOR OR CONTRACTOR SELECTION AND APPROVAL
28 PROCESSES, INCLUDING LABOR STANDARDS AND A PROCESS FOR
29 ENFORCEMENT OF THE LABOR STANDARDS;
30 (d) ELIGIBILITY REQUIREMENTS FOR PROGRAM PARTICIPANTS;
31 (e) PROTECTIONS FOR TENANTS WHOSE LANDLORDS FINANCE
32 ENERGY EFFICIENCY MEASURES THROUGH A PROGRAM, INCLUDING:
33 (I) REQUIREMENTS TO NOTIFY TENANTS OF REPAYMENT
34 OBLIGATIONS IN LEASE AGREEMENTS;
35 (II) PROCESSES FOR PROPERTY OWNERS TO INSTALL MEASURES AT
36 TENANT-OCCUPIED LOCATIONS; AND
37 (III) OTHER MEASURES AS APPROPRIATE;
38 (f) PROGRAM DESIGN TO MINIMIZE THE RISK OF UTILITY
39 DISCONNECTION;
40 (g) THE FINANCING TERMS AVAILABLE FOR DIFFERENT TYPES OF
41 ENERGY EFFICIENCY MEASURES AND ENERGY UPGRADES; AND
42 (h) THE TREATMENT OF TRANSFER OF PROPERTY OWNERSHIP,
43 TREATMENT OF DEBTS TO A UTILITY, AND PROPERTY TREATMENT AT
44 TRANSFER.
45 (5) (a) EXCEPT AS PROVIDED IN SUBSECTION (5)(b) OF THIS
46 SECTION, ON OR BEFORE THE FIRST JANUARY 31 FOLLOWING THE FIFTH
47 COMPLETED YEAR OF PROGRAM IMPLEMENTATION, OR ONCE A UTILITY HAS
48 FINANCED AT LEAST TEN MILLION DOLLARS IN ENERGY EFFICIENCY
49 MEASURES, ELECTRIFICATION MEASURES, OR ENERGY UPGRADES WITH
50 FUNDING FROM THE ON-BILL CASH FUND, WHICHEVER OCCURS FIRST, AND
51 ON OR BEFORE JANUARY 31 OF EACH OF THE THREE YEARS THEREAFTER,
52 A PARTICIPATING UTILITY OR ITS UTILITY-DESIGNATED ADMINISTRATOR
53 SHALL PREPARE AND SUBMIT TO THE OFFICE A REPORT THAT TRACKS THE
54 TOTAL AMOUNT OF ENERGY EFFICIENCY MEASURES, ELECTRIFICATION
55 MEASURES, AND ENERGY UPGRADES FINANCED; THE NUMBER OF
1 PARTICIPATING CUSTOMERS BROKEN DOWN BY INTEREST RATE, AS
2 APPLICABLE; AND CUMULATIVE PROGRAM PARTICIPATION DEFAULT RATES,
3 UTILITY DISCONNECTIONS, COMPLIANCE WITH LABOR STANDARDS, AND
4 OTHER METRICS THAT THE OFFICE DEEMS RELEVANT TO THE CONSUMER
5 PROTECTION AND EQUITY REQUIREMENTS FOR THE PROGRAM. THE OFFICE
6 SHALL MAKE THE REPORTS PUBLICLY AVAILABLE ON ITS PUBLIC WEBSITE.
7 (b) A REGULATED UTILITY THAT IS REQUIRED TO FILE A REPORT
8 WITH THE COMMISSION REGARDING AN ON-BILL PROGRAM NEED NOT
9 PREPARE AND SUBMIT TO THE OFFICE A REPORT PURSUANT TO SUBSECTION
10 (5)(a) OF THIS SECTION.
11 24-38.5-604. Authority to contract with program
12 administrators - selection criteria - program design requirements.
13 (1) IN ACCORDANCE WITH THE REQUIREMENTS OF THE "PROCUREMENT
14 CODE", ARTICLES 101 TO 112 OF THIS TITLE 24, THE OFFICE MAY
15 CONTRACT WITH ONE OR MORE INDEPENDENT THIRD-PARTY ENTITIES TO
16 SERVE AS PROGRAM ADMINISTRATORS TO FACILITATE AND HELP
17 ADMINISTER UTILITY ON-BILL PROGRAMS FOR PARTICIPATING UTILITIES.
18 THE OFFICE SHALL CONTRACT ONLY WITH ONE OR MORE OF THE
19 FOLLOWING ENTITIES TO SERVE AS PROGRAM ADMINISTRATORS:
20 (a) A BANK;
21 (b) A NONDEPOSITORY COMMUNITY DEVELOPMENT FINANCIAL
22 INSTITUTION;
23 (c) A BUSINESS DEVELOPMENT CORPORATION; OR
24 (d) A NONPROFIT ORGANIZATION.
25 (2) IN SELECTING A PROGRAM ADMINISTRATOR PURSUANT TO THIS
26 SECTION, THE OFFICE SHALL CONSIDER THE ABILITY OF A POTENTIAL
27 PROGRAM ADMINISTRATOR TO EXPAND THE PROGRAM, INCLUDING BY
28 EXPANDING THE CAPITAL AVAILABLE FOR USE IN THE PROGRAM THROUGH
29 PUBLIC AND PRIVATE CAPITAL SOURCES.
30 (3) THE OFFICE, IN CONSULTATION WITH A SELECTED PROGRAM
31 ADMINISTRATOR, MAY DETERMINE THE DESIGN REQUIREMENTS FOR THE
32 PROGRAM, WITH THE GOAL OF OFFERING CUSTOMERS THE LOWEST
33 POSSIBLE INTEREST RATES, INCLUDING:
34 (a) A REQUIREMENT THAT A PARTICIPATING UTILITY'S ON-BILL
35 PROGRAM PROVIDE FOR STANDARDIZATION OF ASPECTS OF THE UTILITY'S
36 PROGRAM, SUCH AS FORMS USED TO APPLY FOR PARTICIPATION IN THE
37 UTILITY'S PROGRAM, BUT OTHERWISE ALLOW FOR FLEXIBILITY IN
38 IMPLEMENTING THE UTILITY'S PROGRAM TO ALLOW FOR DIFFERENT
39 REQUIREMENTS BASED ON WHICH ENERGY EFFICIENCY MEASURES,
40 ELECTRIFICATION MEASURES, AND ENERGY UPGRADES A PROGRAM
41 PARTICIPANT CHOOSES;
42 (b) A REQUIREMENT THAT THE ENERGY EFFICIENCY MEASURES,
43 ELECTRIFICATION MEASURES, AND ENERGY UPGRADES AUTHORIZED FOR
44 A PARTICIPATING UTILITY'S ON-BILL PROGRAM COMPLY WITH PROGRAM
45 REQUIREMENTS;
46 (c) A REQUIREMENT THAT A PROGRAM ADMINISTRATOR PURSUE
47 OTHER SOURCES OF PUBLIC AND PRIVATE CAPITAL, WITH A GOAL OF
48 INCREASING AVAILABLE STATEWIDE FUNDING FOR ON-BILL PROGRAMS TO
49 ONE BILLION DOLLARS BY 2030;
50 (d) A REQUIREMENT TO REDUCE CUSTOMER INTEREST RATES TO
51 THE LOWEST RATES POSSIBLE AND TO REDUCE RISK OF DEFAULT; AND
52 (e) REQUIREMENTS REGARDING HOW AVAILABLE REBATES MAY BE
53 APPLIED TO AN ENERGY EFFICIENCY MEASURE, ELECTRIFICATION
54 MEASURE, OR ENERGY UPGRADE PROJECT BEFORE FINANCING.
55
1 24-38.5-605. Transfers of financial responsibility - notification
2 required - property seller's obligation - utility's obligation.
3 (1) PARTICIPATION IN A UTILITY'S ON-BILL PROGRAM IS TIED TO THE
4 LOCATION OF THE UTILITY METER ASSOCIATED WITH A UTILITY
5 CUSTOMER'S ACCOUNT WHERE THE ENERGY EFFICIENCY MEASURES,
6 ELECTRIFICATION MEASURES, OR ENERGY UPGRADES ARE INSTALLED. IF A
7 PROGRAM PARTICIPANT MOVES TO A NEW LOCATION, THE PROGRAM
8 PARTICIPANT'S PARTICIPATION IN THE ON-BILL PROGRAM DOES NOT
9 TRANSFER TO THE PROGRAM PARTICIPANT'S NEW LOCATION. A PROGRAM
10 MAY BE STRUCTURED SUCH THAT, FOR REAL PROPERTY THAT IS THE SITE
11 OF A UTILITY METER THAT IS ASSOCIATED WITH PARTICIPATION IN THE
12 PROGRAM, THE FINANCIAL RESPONSIBILITY TO MAKE ANY REMAINING
13 REPAYMENTS UNDER THE ON-BILL PROGRAM TRANSFERS TO THE
14 SUCCESSOR PROGRAM PARTICIPANT.
15 (2) FINANCIAL RESPONSIBILITY DESCRIBED IN SUBSECTION (1) OF
16 THIS SECTION APPLIES ONLY TO THE PROGRAM PARTICIPANT RESPONSIBLE
17 FOR THE UTILITY METER, AND NOT TO ALL OF THE REAL PROPERTY.
18 (3) IF A PROGRAM PARTICIPANT THAT IS AN OWNER OF REAL
19 PROPERTY AT WHICH ENERGY EFFICIENCY MEASURES, ELECTRIFICATION
20 MEASURES, OR ENERGY UPGRADES HAVE BEEN IMPLEMENTED PURSUANT
21 TO PARTICIPATION IN THE PROGRAM INTENDS TO SELL THE REAL PROPERTY,
22 AND THE FULL COST OF THE ENERGY EFFICIENCY MEASURES,
23 ELECTRIFICATION MEASURES, OR ENERGY UPGRADES HAVE NOT BEEN
24 FULLY REPAID, THE OWNER SHALL:
25 (a) PROVIDE A PROSPECTIVE PURCHASER OF THE REAL PROPERTY
26 WRITTEN NOTICE OF THE REMAINING PAYMENTS UNDER THE ON-BILL
27 PROGRAM UPON PURCHASING THE REAL PROPERTY. THE WRITTEN NOTICE
28 MUST BE PROVIDED BEFORE THE PROSPECTIVE PURCHASER MAKES AN
29 OFFER TO PURCHASE THE REAL PROPERTY AND MUST INCLUDE:
30 (I) INFORMATION THAT THE REAL PROPERTY IS SUBJECT TO UTILITY
31 ON-BILL REPAYMENTS;
32 (II) CONTACT INFORMATION FOR A PERSON INVOLVED IN THE
33 UTILITY'S ON-BILL PROGRAM; AND
34 (III) INFORMATION REGARDING THE UTILITY ON-BILL REPAYMENTS,
35 INCLUDING:
36 (A) THE TOTAL AMOUNT OF THE ORIGINAL COSTS FOR WHICH
37 UTILITY ON-BILL REPAYMENTS WERE ESTABLISHED;
38 (B) THE APPROXIMATE REMAINING BALANCE OF THE COSTS;
39 (C) THE ON-BILL REPAYMENT SCHEDULE, INCLUDING THE
40 MONTHLY REPAYMENT OBLIGATION;
41 (D) THE PRODUCTS AND SERVICES PROVIDING ENERGY EFFICIENCY
42 MEASURES, ELECTRIFICATION MEASURES, OR ENERGY UPGRADES THAT
43 WERE INSTALLED THROUGH THE UTILITY'S ON-BILL PROGRAM; AND
44 (E) ANY RISKS ASSOCIATED WITH NONPAYMENT OF THE ON-BILL
45 REPAYMENTS, INCLUDING DEBT WORKOUT PROCESSES AVAILABLE AND THE
46 POTENTIAL DISCONNECTION OF UTILITY SERVICE;
47 (b) NOTIFY THE UTILITY TO WHICH THE OWNER IS MAKING ON-BILL
48 REPAYMENTS UNDER THE ON-BILL PROGRAM IN THE EVENT THAT THE REAL
49 PROPERTY HAS BEEN LISTED FOR SALE; AND
50 (c) CONTINUE MAKING THE ON-BILL REPAYMENTS UNTIL
51 OWNERSHIP OF THE REAL PROPERTY HAS OFFICIALLY TRANSFERRED TO A
52 PURCHASER OF THE REAL PROPERTY.
53
1 (4) (a) UPON ACCEPTING AN OFFER TO PURCHASE REAL PROPERTY
2 DESCRIBED IN SUBSECTION (3) OF THIS SECTION, THE OWNER OF THE REAL
3 PROPERTY SHALL NOTIFY THE UTILITY TO WHICH THE OWNER IS MAKING
4 ON-BILL REPAYMENTS OF:
5 (I) THE PURCHASER'S NAME AND CONTACT INFORMATION;
6 (II) THE NAME AND CONTACT INFORMATION FOR ANY REAL ESTATE
7 AGENT REPRESENTING THE PURCHASER OF THE REAL PROPERTY; AND
8 (III) THE NAME AND CONTACT INFORMATION FOR THE TITLE AGENT
9 OR COMPANY THAT PROVIDES CLOSING AND SETTLEMENT SERVICES IN
10 RELATION TO THE REAL ESTATE TRANSACTION.
11 (b) THE UTILITY OR ITS DESIGNEE SHALL, UPON REQUEST, MAKE
12 INFORMATION AVAILABLE TO THE PURCHASER OR ANY REAL ESTATE
13 AGENT REPRESENTING THE PURCHASER AND THE TITLE AGENT OR
14 COMPANY TO INFORM THE PURCHASER AND TITLE AGENT OR COMPANY OF
15 THE TERMS AND CONDITIONS OF THE ON-BILL REPAYMENTS OWED TO THE
16 UTILITY UNDER THE UTILITY'S ON-BILL PROGRAM.
17 (5) IF AN OWNER OF A PROPERTY WITH AN OUTSTANDING BALANCE
18 FOR AN ON-BILL REPAYMENT OBLIGATION BEGINS TO RENT OR LEASE THE
19 PROPERTY, THE OWNER SHALL NOTIFY THE UTILITY AND SHALL FOLLOW
20 ALL REQUIREMENTS REGARDING TENANT CONSUMER PROTECTIONS THAT
21 THE UTILITY OR PROGRAM ADMINISTRATOR ESTABLISHES AND THAT WERE
22 INCLUDED IN THE FINANCIAL DOCUMENTS THAT THE OWNER SIGNED.
23 (6) THIS SECTION APPLIES ONLY TO A UTILITY'S ON-BILL PROGRAM
24 THAT RECEIVES FINANCING FROM THE ON-BILL CASH FUND EITHER
25 DIRECTLY OR THROUGH A UTILITY-DESIGNATED ADMINISTRATOR.
26 24-38.5-606. Participation by utilities - program
27 administration. (1) A UTILITY MAY SEEK MONEY FROM THE ON-BILL
28 CASH FUND USING A PROCESS APPROVED BY THE OFFICE TO ESTABLISH ITS
29 OWN ON-BILL PROGRAM OR SUPPORT AN EXISTING ON-BILL PROGRAM.
30 (2) A UTILITY PARTICIPATING IN THE PROGRAM PURSUANT TO THIS
31 SECTION MAY DESIGNATE AN ADMINISTRATOR WITH WRITTEN APPROVAL
32 FROM THE OFFICE OR MAY CHOOSE TO DESIGNATE THE PROGRAM
33 ADMINISTRATOR SELECTED BY THE OFFICE AS ITS UTILITY-DESIGNATED
34 ADMINISTRATOR.
35 (3) IF THE OFFICE CONTRACTS WITH A PROGRAM ADMINISTRATOR
36 PURSUANT TO SECTION 24-38.5-604, A UTILITY THAT, ON THE EFFECTIVE
37 DATE OF THIS SECTION, HAS AN EXISTING ON-BILL PROGRAM MAY SEEK
38 WRITTEN APPROVAL FROM THE OFFICE TO TRANSFER THE ADMINISTRATION
39 OF ITS ON-BILL PROGRAM TO THE PROGRAM ADMINISTRATOR.
40 24-38.5-607. On-bill cash fund - creation. (1) THE ON-BILL
41 CASH FUND IS CREATED IN THE STATE TREASURY. THE FUND CONSISTS OF
42 MONEY CREDITED TO THE FUND PURSUANT TO SECTION 38-13-801 (3.3)
43 AND ANY OTHER MONEY THAT THE GENERAL ASSEMBLY MAY APPROPRIATE
44 OR TRANSFER TO THE FUND.
45 (2) THE STATE TREASURER SHALL CREDIT ALL INTEREST AND
46 INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN THE
47 ON-BILL CASH FUND TO THE FUND.
48 (3) MONEY IN THE ON-BILL CASH FUND IS CONTINUOUSLY
49 APPROPRIATED TO THE OFFICE TO DEFRAY THE COSTS INCURRED BY THE
50 OFFICE IN ADMINISTERING THE PROGRAM AND IN SUPPORTING UTILITY AND
51 BUILDING DECARBONIZATION.
52
1 (4) (a) A LOAN MADE FROM THE UNCLAIMED PROPERTY TRUST
2 FUND TO A SEPARATE FUND ASSOCIATED WITH A STATE OFFICE IS AN
3 INTERFUND LOAN ACCORDING TO GOVERNMENTAL ACCOUNTING
4 STANDARDS BOARD CODIFICATION 1800.102, MEANING THAT THE LOAN IS
5 NOT CLASSIFIED AS REVENUE AND IS BOOKED AS AN INTERFUND
6 RECEIVABLE OR PAYABLE.
7 (b) A LOAN MADE FROM THE UNCLAIMED PROPERTY TRUST FUND
8 TO A SEPARATE FUND ASSOCIATED WITH A STATE OFFICE IS NOT STATE
9 FISCAL YEAR SPENDING, AS DEFINED IN SECTION 24-77-102 (17), OR STATE
10 REVENUES, AS DEFINED IN SECTION 24-77-103.6 (6)(c), AND DOES NOT
11 COUNT AGAINST EITHER THE STATE FISCAL YEAR SPENDING LIMIT IMPOSED
12 BY SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION OR THE EXCESS
13 STATE REVENUES CAP, AS DEFINED IN SECTION 24-77-103.6 (6)(b)(I)(G).
14 SECTION 2. In Colorado Revised Statutes, add 38-35.7-113 as
15 follows:
16 38-35.7-113. Disclosure - utility on-bill program obligations.
17 (1) FOR ANY REAL PROPERTY FOR WHICH THE OWNER OF THE PROPERTY
18 IS SUBJECT TO REPAYMENT OBLIGATIONS UNDER AN ON-BILL PROGRAM
19 DESCRIBED IN PART 6 OF ARTICLE 38.5 OF TITLE 24, THE OWNER OF THE
20 REAL PROPERTY SHALL PROVIDE A PROSPECTIVE PURCHASER OF THE
21 PROPERTY WRITTEN NOTICE IN COMPLIANCE WITH SECTION 24-38.5-605.
22 BEFORE ACCEPTING A PROSPECTIVE PURCHASER'S OFFER TO PURCHASE THE
23 REAL PROPERTY, THE SELLER SHALL PROVIDE THE PROSPECTIVE
24 PURCHASER THE WRITTEN NOTICE AND OBTAIN FROM THE PROSPECTIVE
25 PURCHASER A SIGNED COPY OF THE WRITTEN NOTICE ACKNOWLEDGING
26 RECEIPT OF THE NOTICE. THE PROSPECTIVE PURCHASER MAY SIGN THE
27 WRITTEN NOTICE ELECTRONICALLY.
28 (2) THIS SECTION APPLIES ONLY TO A UTILITY'S ON-BILL PROGRAM
29 THAT RECEIVES FINANCING FROM THE ON-BILL CASH FUND CREATED IN
30 SECTION 24-38.5-607 DIRECTLY OR THROUGH A UTILITY-DESIGNATED
31 ADMINISTRATOR.
32 SECTION 3. In Colorado Revised Statutes, add 40-2-140 as
33 follows:
34 40-2-140. Utility on-bill program - review by commission -
35 definitions. (1) AS USED IN THIS SECTION, UNLESS THE CONTEXT
36 OTHERWISE REQUIRES:
37 (a) "COMBINED FUEL CUSTOMER" MEANS A RESIDENTIAL UTILITY
38 CUSTOMER THAT TAKES BOTH ELECTRIC AND GAS SERVICE FROM THE
39 UTILITY.
40 (b) "ON-BILL CASH FUND" HAS THE MEANING SET FORTH IN
41 SECTION 24-38.5-602 (7).
42 (c) "ON-BILL PROGRAM" HAS THE MEANING SET FORTH IN SECTION
43 24-38.5-602 (8).
44 (2) (a) (I) EXCEPT AS PROVIDED IN SUBSECTION (2)(a)(II) OF THIS
45 SECTION, ON OR BEFORE DECEMBER 31, 2027, A GAS, ELECTRIC, OR
46 COMBINED FUEL UTILITY WITH MORE THAN FIVE HUNDRED THOUSAND
47 CUSTOMERS IN THE STATE SHALL FILE WITH THE COMMISSION AN
48 APPLICATION THAT EITHER PROPOSES TO USE FUNDING FROM THE ON-BILL
49 CASH FUND TO ESTABLISH OR MODIFY AN EXISTING ON-BILL PROGRAM OR
50 PROPOSES NOT TO USE FUNDING FROM THE ON-BILL CASH FUND.
51 (II) IF THE UTILITY PROPOSES NOT TO USE FUNDING FROM THE
52 ON-BILL CASH FUND, THE UTILITY'S FILING MUST DEMONSTRATE WHY THE
53 UTILITY'S CUSTOMERS WOULD NOT BENEFIT FROM THE UTILITY'S USE OF
54 THE FUNDING.
55
1 (b) UNLESS OTHERWISE PART OF A UTILITY ON-BILL PROGRAM
2 APPROVED BY THE COMMISSION AND NOT IN CONFLICT WITH ANY
3 COMMISSION-APPROVED ON-BILL PROGRAM OR OTHER COMMISSION
4 DECISION, A UTILITY'S FILING SUBMITTED PURSUANT TO SUBSECTION
5 (2)(a)(I) OF THIS SECTION MUST:
6 (I) PROPOSE TO MAKE THE UTILITY'S ON-BILL PROGRAM AVAILABLE
7 TO ELECTRIC-ONLY RETAIL CUSTOMERS, GAS-ONLY RETAIL CUSTOMERS,
8 AND COMBINED FUEL RETAIL CUSTOMERS;
9 (II) DESCRIBE HOW THE UTILITY WOULD USE MONEY FROM THE
10 ON-BILL CASH FUND TO IMPLEMENT OR MODIFY AN ON-BILL PROGRAM;
11 (III) DESCRIBE HOW THE UTILITY WILL OFFER THE ON-BILL
12 PROGRAM TO ITS RESIDENTIAL CUSTOMERS;
13 (IV) INCLUDE INFORMATION CONCERNING HOW THE UTILITY WILL
14 ALLOW NONPROFIT ORGANIZATIONS, STATE AND LOCAL GOVERNMENTS,
15 MULTIFAMILY DWELLINGS, AND HOMEOWNERS' ASSOCIATIONS TO
16 PARTICIPATE IN THE ON-BILL PROGRAM; AND
17 (V) DESCRIBE HOW THE UTILITY MAY USE FUNDING FROM THE
18 ON-BILL CASH FUND OR OTHER SOURCES OF FUNDING TO REDUCE INTEREST
19 RATES, ESPECIALLY FOR CUSTOMERS IN LOW- AND MODERATE-INCOME
20 HOUSEHOLDS.
21 (3) A UTILITY WITH MORE THAN FIVE HUNDRED THOUSAND
22 CUSTOMERS IN THE STATE MAY RECOVER ON-BILL PROGRAM COSTS IN
23 ACCORDANCE WITH PART 6 OF ARTICLE 38.5 OF TITLE 24. THE UTILITY
24 SHALL NOT RECOVER ADMINISTRATIVE COSTS THROUGH THE INTEREST
25 RATE ESTABLISHED FOR MONEY MADE AVAILABLE THROUGH THE ON-BILL
26 PROGRAM. A UTILITY MAY RECOVER ADMINISTRATIVE COSTS APPROVED
27 BY THE COMMISSION. A UTILITY MAY PROPOSE OR MAY MAINTAIN A
28 METHOD TO RECOVER APPROVED ADMINISTRATIVE COSTS, INCLUDING THE
29 USE OF AN EXISTING RIDER, AS APPROVED BY THE COMMISSION.
30 (4) A UTILITY WITH MORE THAN FIVE HUNDRED THOUSAND
31 CUSTOMERS IN THE STATE THAT, BY APRIL 1, 2026, DOES NOT HAVE AN
32 EXISTING ON-BILL PROGRAM THAT HAS BEEN APPROVED BY THE
33 COMMISSION SHALL FILE THE APPLICATION DESCRIBED IN SUBSECTION
34 (2)(a) OF THIS SECTION ON OR BEFORE DECEMBER 31, 2026.
35 (5) (a) THE COMMISSION SHALL REVIEW AND APPROVE,
36 DISAPPROVE, OR APPROVE WITH MODIFICATIONS A UTILITY'S APPLICATION
37 SUBMITTED PURSUANT TO SUBSECTION (2) OF THIS SECTION. IN REVIEWING
38 AN APPLICATION, THE COMMISSION SHALL DETERMINE WHETHER THE
39 UTILITY'S PROPOSED PLAN FOR PARTICIPATION IN A UTILITY ON-BILL
40 PROGRAM IS IN THE PUBLIC INTEREST, AND, IF THE COMMISSION
41 DETERMINES THAT THE PROPOSED PLAN IS NOT IN THE PUBLIC INTEREST,
42 THE COMMISSION MAY MODIFY SPECIFIC PORTIONS OF THE PROPOSED PLAN
43 TO BRING THE PROPOSED PLAN INTO ALIGNMENT WITH THE PUBLIC
44 INTEREST.
45 (b) IF THE COMMISSION, PURSUANT TO THIS SECTION OR THROUGH
46 A COMMISSION DECISION, APPROVES PARTICIPATION IN A UTILITY ON-BILL
47 PROGRAM FOR NONPROFIT ORGANIZATIONS OR NONRESIDENTIAL
48 CUSTOMERS, THE REQUIREMENTS OF SECTIONS 40-3.2-105.5 AND
49 40-3.2-105.6 APPLY TO ANY WORK UNDERTAKEN AS PART OF THE ON-BILL
50 PROGRAM.
51 SECTION 4. In Colorado Revised Statutes, 38-13-801, amend
52 (1)(b); and add (3.3) as follows:
53
1 38-13-801. Unclaimed property trust fund - creation -
2 payments - interest - appropriations - records - rules - legislative
3 declaration. (1) (b) Except as provided in subsections (2), (3), (3.3), and
4 (3.5) of this section, the principal of the trust fund shall not be expended
5 except to pay claims made pursuant to this article 13. Money constituting
6 the principal of the trust fund is not fiscal year spending of the state for
7 purposes of section 20 of article X of the state constitution and is not
8 subject to appropriation by the general assembly.
9 (3.3) (a) AFTER RESERVING THE AMOUNTS DESCRIBED IN
10 SUBSECTION (3)(b) OF THIS SECTION AND TRANSMITTING THE MONEY
11 NECESSARY FOR THE PURPOSES DESCRIBED IN SUBSECTION (3)(a) OF THIS
12 SECTION, THE STATE TREASURER SHALL CREDIT TO THE ON-BILL CASH
13 FUND CREATED IN SECTION 24-38.5-607 AN AMOUNT OF PRINCIPAL AND
14 INTEREST IN THE UNCLAIMED PROPERTY TRUST FUND THAT IS SUFFICIENT,
15 AS DETERMINED BY THE COLORADO ENERGY OFFICE PURSUANT TO
16 SECTION 24-38.5-603 (2), TO IMPLEMENT PART 6 OF ARTICLE 38.5 OF TITLE
17 24.
18 (b) ON JANUARY 1, 2026, THE STATE TREASURER SHALL MAKE AN
19 INTEREST-FREE LOAN IN THE AMOUNT OF ONE HUNDRED MILLION DOLLARS
20 FROM THE UNCLAIMED PROPERTY TRUST FUND TO THE ON-BILL CASH FUND
21 CREATED IN SECTION 24-38.5-607. THE COLORADO ENERGY OFFICE SHALL:
22 (I) USE THE LOAN TO SUPPORT UTILITY ON-BILL PROGRAMS, AS
23 DESCRIBED IN SECTION 24-38.5-603; AND
24 (II) PAY THE LOAN BACK TO THE UNCLAIMED PROPERTY TRUST
25 FUND BY JANUARY 1, 2046. THE LOAN REPAYMENT IS SUBJECT TO FUTURE
26 APPROPRIATION BY THE GENERAL ASSEMBLY AND SHALL NOT BE DEEMED
27 OR CONSTRUED AS CREATING INDEBTEDNESS OF THE STATE WITHIN THE
28 MEANING OF THE STATE CONSTITUTION OR THE LAWS OF THE STATE
29 CONCERNING OR LIMITING THE CREATION OF INDEBTEDNESS BY THE STATE.
30 (c) A LOAN MADE FROM THE UNCLAIMED PROPERTY TRUST FUND
31 TO ANOTHER STATE FUND SHALL BE REPAID WITHIN TWENTY YEARS.
32 SECTION 5. In Colorado Revised Statutes, add 24-38.5-123 as
33 follows:
34 24-38.5-123. Building decarbonization enterprise - creation -
35 membership - powers and duties - building decarbonization
36 enterprise cash fund - on-bill program administration cash fund -
37 legislative declaration - definitions - rules - report - repeal.
38 (1) Legislative declaration. (a) THE GENERAL ASSEMBLY FINDS THAT:
39 (I) REDUCING GREENHOUSE GAS EMISSIONS FROM COMBUSTION
40 DEVICES IN RESIDENTIAL AND COMMERCIAL BUILDINGS:
41 (A) IS NECESSARY TO HELP THE STATE ACHIEVE ITS STATEWIDE
42 GREENHOUSE GAS EMISSION REDUCTION GOALS SET FORTH IN SECTION
43 25-7-102 (2)(g), INCLUDING THE GOAL TO REACH NET-ZERO GREENHOUSE
44 GAS EMISSIONS BY 2050; AND
45 (B) PRESENTS SIGNIFICANT OPPORTUNITIES TO LOWER AND
46 STABILIZE ENERGY BILLS, PROVIDE FOR MORE COMFORTABLE LIVING AND
47 WORKING SPACES, AND REDUCE LOCAL AIR POLLUTION THAT CONTRIBUTES
48 TO GROUND-LEVEL OZONE;
49 (II) COVERED BUILDING OWNERS ARE REQUIRED TO COMPLY WITH
50 BENCHMARKING REQUIREMENTS AND PERFORMANCE STANDARD
51 REQUIREMENTS AND WOULD BENEFIT FROM ADDITIONAL FINANCIAL AND
52 TECHNICAL ASSISTANCE TO MEET OR EXCEED THOSE REQUIREMENTS;
53
1 (III) WITH ADDITIONAL FINANCING AND TECHNICAL ASSISTANCE,
2 COVERED BUILDING OWNERS MAY MORE EFFECTIVELY AND EFFICIENTLY
3 IMPLEMENT BUILDING DECARBONIZATION MEASURES, INCLUDING, BUT NOT
4 LIMITED TO, PROGRAMS THAT:
5 (A) HELP FINANCE ENERGY EFFICIENCY MEASURES,
6 ELECTRIFICATION MEASURES, AND OTHER ENERGY UPGRADES; AND
7 (B) PROVIDE ASSISTANCE FOR CONDUCTING BUILDING ENERGY
8 AUDITS, DEVELOPING ANALYSES TO HELP BUILDING OWNERS EVALUATE
9 THE BEST STRATEGIES FOR ACHIEVING FUTURE PERFORMANCE STANDARD
10 TARGETS, EMPLOYING OR CONSULTING WITH BUILDING ENGINEERS,
11 PURCHASING ENERGY USE TRACKING SOFTWARE FOR COVERED BUILDING
12 OWNERS TO MORE EFFECTIVELY TRACK ENERGY USE, AND PROVIDING
13 TRAINING ON SUCH SOFTWARE;
14 (IV) UTILITY CUSTOMERS WOULD BENEFIT FROM HAVING ACCESS
15 TO SIGNIFICANT AMOUNTS OF PUBLIC AND PRIVATE CAPITAL FOR
16 LOW-COST FINANCING SOLUTIONS FOR ENERGY-RELATED IMPROVEMENTS,
17 INCLUDING END-OF-LIFE EQUIPMENT REPLACEMENT; AND
18 (V) UTILITIES SERVING COLORADANS HAVE VARYING LEVELS OF
19 EXPERIENCE, AVAILABLE CAPITAL, AND AVAILABLE STAFF TO SUPPORT THE
20 ESTABLISHMENT AND ADMINISTRATION OF ON-BILL PROGRAMS.
21 (b) NOW, THEREFORE, THE GENERAL ASSEMBLY DECLARES THAT:
22 (I) IT IS IN THE PUBLIC INTEREST TO CREATE AN ENTERPRISE
23 WITHIN THE OFFICE THAT IS COMMITTED TO FINANCING AND PROVIDING
24 TECHNICAL AND OTHER SUPPORT FOR THE IMPLEMENTATION OF BUILDING
25 DECARBONIZATION MEASURES AND FOR THE ESTABLISHMENT OF UTILITY
26 ON-BILL PROGRAMS;
27 (II) THE ACTIVITIES OF THE ENTERPRISE SHALL BE FUNDED BY
28 REVENUE GENERATED FROM A BUILDING DECARBONIZATION FEE PAID BY
29 COVERED BUILDING OWNERS AND ANY GIFTS, GRANTS, AND DONATIONS
30 RECEIVED;
31 (III) IT IS APPROPRIATE THAT COVERED BUILDING OWNERS SHOULD
32 PAY A BUILDING DECARBONIZATION FEE, AS COVERED BUILDING OWNERS
33 ARE THE DIRECT BENEFICIARIES OF SERVICES PROVIDED BY THE
34 ENTERPRISE, WHICH SERVICES INCLUDE THE FINANCING AND TECHNICAL
35 ASSISTANCE PROVIDED FOR THE BUILDING DECARBONIZATION MEASURES
36 DESCRIBED IN SUBSECTION (1)(a)(III) OF THIS SECTION;
37 (IV) COVERED BUILDING OWNERS BENEFIT FROM THE
38 IMPLEMENTATION OF BUILDING DECARBONIZATION MEASURES BECAUSE
39 SUCH MEASURES CAN:
40 (A) REDUCE COVERED BUILDING OWNERS' LONG-TERM COSTS
41 RELATED TO ENERGY USE;
42 (B) IMPROVE BUILDING COMFORT; AND
43 (C) INCREASE THE MARKET VALUE AND DESIRABILITY OF COVERED
44 BUILDINGS TO TENANTS;
45 (V) IT IS IN THE PUBLIC INTERES
House Journal, April 9
15 HB25-1268 be amended as follows, and as so amended, be referred to
16 the Committee on Appropriations with favorable
17 recommendation:
18
19 Amend the Energy and Environment Committee Report, dated March 20,
20 2025, page 1, after line 13 insert:
21
22 "(a) UTILITIES BENEFIT FROM UTILITY ON-BILL PROGRAMS
23 BECAUSE THE PROGRAMS CAN REDUCE ENERGY CONSUMPTION AND PEAK
24 DEMAND;".
25
26 Reletter succeeding paragraphs accordingly.
27
28 Page 2, strike lines 38 and 39 and substitute:
29
30 "(b) UPGRADE OTHER ELECTRICAL EQUIPMENT THAT ENABLES THE
31 INSTALLATION OF ENERGY STORAGE, INCLUDING INSTALLATION OF A
32 SUBPANEL, CRITICAL LOAD PANEL, BACKUP SWITCH, GATEWAY, OR OTHER
33 EQUIPMENT; OR".
34
35 Page 3, lines 8 and 9, strike "ARE ASSOCIATED WITH THE UTILITY METER
36 AND".
37
38 Page 3, strike lines 12 through 14 and substitute "MONEY THROUGH THE
39 PROGRAM, EITHER DIRECTLY OR BY ELECTING TO HAVE ITS
40 UTILITY-DESIGNATED ADMINISTRATOR RECEIVE MONEY; THROUGH A LOAN
41 FROM THE OFFICE; OR THROUGH PARTICIPATION IN A PROGRAM
42 ADMINISTERED BY THE PROGRAM ADMINISTRATOR IN WHICH THE
43 PROGRAM ADMINISTRATOR RECEIVES MONEY FROM THE OFFICE TO
44 MANAGE A UTILITY ON-BILL PROGRAM FOR THE UTILITY.".
45
46 Page 4, line 1, after "(2)" insert "(a)".
47 Page 4, strike lines 2 and 3 and substitute "PARTICIPATING UTILITY OR THE
48 PROGRAM ADMINISTRATOR, MONEY PROVIDED TO THE UTILITY OR ITS
49 UTILITY-DESIGNATED ADMINISTRATOR".
50
51 Page 4, after line 8 insert:
52
53 "(b) IN AN AGREEMENT ENTERED INTO PURSUANT TO THIS
54 SUBSECTION (2), THE AGREEMENT MUST INCLUDE REQUIREMENTS THAT,
55 NO LATER THAN THREE YEARS AFTER MONEY IS LOANED TO THE
1 PARTICIPATING UTILITY OR PROGRAM ADMINISTRATOR, THE
2 PARTICIPATING UTILITY OR PROGRAM ADMINISTRATOR SHALL BEGIN
3 MAKING ANNUAL PAYMENTS OF THE PRINCIPAL AND INTEREST OF THE
4 AMOUNT LOANED AT THE INTEREST RATE SPECIFIED IN SUBSECTION (2)(c)
5 OF THIS SECTION, WHICH MONEY THE STATE TREASURER SHALL CREDIT
6 DIRECTLY TO THE UNCLAIMED PROPERTY TRUST FUND. AN AGREEMENT
7 ENTERED INTO PURSUANT TO THIS SUBSECTION (2) MUST REQUIRE THAT
8 THE LOAN IS AMORTIZED OVER A MAXIMUM OF TWENTY YEARS.
9 (c) A LOAN MADE TO A PARTICIPATING UTILITY FROM THE ON-BILL
10 CASH FUND MUST INCLUDE AN INTEREST RATE OF ONE PERCENT, AND
11 INTEREST PAYMENTS MUST BE CREDITED TO THE UNCLAIMED PROPERTY
12 TRUST FUND.".
13
14 Page 4, line 17, strike "PARTICIPANTS." and substitute "PARTICIPANTS AND
15 NONPARTICIPANTS.".
16
17 Page 4, strike lines 35 through 38 and substitute "RECOVER PROGRAM
18 ADMINISTRATION COSTS; AND".
19
20 Renumber succeeding subparagraph accordingly.
21
22 Page 4, strike lines 41 through 43.
23
24 Page 5, strike lines 1 through 6 and substitute "SUBJECT TO A UTILITY'S
25 ON-BILL PROGRAM, INCLUDING A REQUIREMENT THAT A PROPERTY OWNER
26 THAT IS A".
27
28 Page 5, line 10, strike "OBLIGATION." and substitute "OBLIGATION, PRIOR
29 TO THE EXECUTION OF A LEASE.".
30
31 Page 5, after line 10 insert:
32
33 "(c) FOR CONTRACTS WITH A REGULATED UTILITY OR THE
34 REGULATED UTILITY'S UTILITY-DESIGNATED ADMINISTRATOR, THE FINAL
35 CONTRACT MUST CONFORM WITH ANY FINAL APPROVAL FROM THE
36 COMMISSION.
37 (d) A PARTICIPATING UTILITY OR ITS UTILITY-DESIGNATED
38 ADMINISTRATOR SHALL BE RESPONSIBLE FOR REPAYING THE AMOUNT OF
39 FUNDING PROVIDED FROM THE ON-BILL CASH FUND TO THE UTILITY OR ITS
40 UTILITY-DESIGNATED ADMINISTRATOR.
41 (e) IN DEVELOPING GUIDANCE ON PROGRAM REQUIREMENTS
42 PURSUANT TO THIS SUBSECTION (3), THE OFFICE SHALL CREATE AS MUCH
43 STANDARDIZATION AS POSSIBLE AMONG NEWLY PROPOSED AND ALREADY
44 EXISTING TARIFFED ON-BILL PROGRAMS, WITH A PARTICULAR FOCUS ON
45 EASING THE BURDEN OF PARTICIPATION BY CONTRACTORS WORKING
46 ACROSS MULTIPLE UTILITY TERRITORIES.
47 (4) WHEN CONTRACTING WITH A PARTICIPATING UTILITY OR
48 PROGRAM ADMINISTRATOR REGARDING AN ON-BILL PROGRAM
49 ESTABLISHED AFTER JULY 1, 2025, THE OFFICE SHALL STRUCTURE THE
50 CONTRACT AS A TARIFFED ON-BILL PROGRAM.".
51
52 Renumber succeeding subsections accordingly.
53
54 Page 5, line 38, strike "MINIMIZE" and substitute "MANAGE".
55
1 Page 5, line 43, strike "UTILITY," and substitute "UTILITY OR ITS
2 UTILITY-DESIGNATED ADMINISTRATOR,".
3
4 Page 6, line 22, strike "(5)(a)" and substitute "(6)(a)".
5 Page 7, line 2, strike "POSSIBLE" and substitute "REASONABLE".
6
7 Page 7, line 20, strike "RATES POSSIBLE" and substitute "REASONABLE
8 RATES".
9
10 Page 7, strike lines 25 through 43.
11
12 Strike page 8.
13
14 Page 9, strike lines 1 through 14 and substitute "required - utility's
15 obligation - program administrator's obligation. (1) THE OFFICE
16 SHALL INCLUDE A REQUIREMENT IN ANY CONTRACT ENTERED INTO WITH
17 A PARTICIPATING UTILITY OR PROGRAM ADMINISTRATOR REGARDING THE
18 USE OF MONEY FROM THE ON-BILL CASH FUND THAT THE UTILITY OR
19 PROGRAM ADMINISTRATOR THAT RECEIVES FINANCING FROM THE ON-BILL
20 CASH FUND SHALL EITHER DIRECTLY OR THROUGH A UTILITY-DESIGNATED
21 ADMINISTRATOR RECORD A NOTICE WITH THE COUNTY CLERK AND
22 RECORDER FOR INCLUSION IN THE PUBLIC RECORDS OF THE COUNTY IN
23 WHICH A PROGRAM PARTICIPANT'S PROPERTY IS LOCATED AGAINST THE
24 REAL PROPERTY TITLE AS FOLLOWS:
25 (a) WHERE THE FINANCING IS ATTACHED TO THE METER, THE
26 OFFICE SHALL ESTABLISH A REQUIREMENT THAT THE PARTICIPATING
27 UTILITY OR PROGRAM ADMINISTRATOR, WITHIN THIRTY DAYS AFTER THE
28 PROVISION OF FINANCING TO A PROGRAM PARTICIPANT, SHALL RECORD A
29 NOTICE OF THE ON-BILL REPAYMENT OBLIGATION, WHICH NOTICE MUST
30 INCLUDE A LEGAL DESCRIPTION OF THE REAL PROPERTY SUBJECT TO THE
31 FINANCING THAT IS ATTACHED TO THE METER, THE NAME AND ADDRESS OF
32 THE UTILITY CUSTOMER, THE PRINCIPAL AMOUNT FINANCED, AND THE
33 TERMS OF REPAYMENT. THE OFFICE SHALL ALSO ESTABLISH A
34 REQUIREMENT THAT THE PARTICIPATING UTILITY OR PROGRAM
35 ADMINISTRATOR, WITHIN THIRTY DAYS AFTER THE FINANCING HAS BEEN
36 COMPLETELY REPAID, SHALL FILE A NOTICE WITH THE COUNTY CLERK AND
37 RECORDER FOR INCLUSION IN THE PUBLIC RECORDS OF THE COUNTY IN
38 WHICH THE PROPERTY IS LOCATED INDICATING THAT THE FINANCING
39 REPAYMENT IS COMPLETE AND THAT THERE ARE NO FURTHER FINANCIAL
40 OBLIGATIONS.
41 (b) WHERE THE FINANCING IS A LOAN TO THE PROPERTY OWNER,
42 THE PARTICIPATING UTILITY OR PROGRAM ADMINISTRATOR, WITHIN
43 THIRTY DAYS AFTER THE PROVISION OF FINANCING TO A PROGRAM
44 PARTICIPANT, SHALL RECORD A LIEN THAT MUST INCLUDE THE LEGAL
45 DESCRIPTION OF THE REAL PROPERTY SUBJECT TO THE LOAN IN THE PUBLIC
46 RECORDS OF THE COUNTY IN WHICH THE PROPERTY IS LOCATED. THE LIEN
47 DOES NOT ESTABLISH A RIGHT TO FORECLOSE ON THE PROPERTY. THERE
48 SHALL BE A REQUIREMENT THAT THE LOAN BE PAID OFF AT THE POINT OF
49 SALE OF THE REAL PROPERTY SUBJECT TO THE LOAN. WITHIN THIRTY DAYS
50 AFTER THE LOAN HAS BEEN COMPLETELY REPAID, THE PARTICIPATING
51 UTILITY OR PROGRAM ADMINISTRATOR SHALL FILE TO REMOVE THE LIEN.
52 THIS SUBSECTION (1)(b) DOES NOT APPLY IF A LOAN IS STRUCTURED AS AN
53 UNSECURED LOAN TO AN INDIVIDUAL CUSTOMER, WHICH UNSECURED
54 LOAN CREATES NO RECOURSE AGAINST THE PROPERTY, SUBSEQUENT
55 PROPERTY OWNERS, OR A FUTURE UTILITY CUSTOMER LOCATED AT THE
56 PROPERTY.
1 (2) AT THE POINT OF SALE OF THE REAL PROPERTY SUBJECT TO A
2 LOAN, IF THE PROPERTY VALUE IS LESS THAN THE REMAINING REPAYMENT
3 OBLIGATION ON THE LOAN, THERE MAY BE A REQUIREMENT THAT THE
4 LOAN BE PAID OFF AT THAT TIME.
5 (3) A COUNTY CLERK AND RECORDER SHALL RECORD A NOTICE
6 FILED PURSUANT TO THIS SECTION IN A MANNER THAT WILL APPEAR IN A
7 TITLE SEARCH OF THE PROPERTY.".
8
9 Page 10, strike lines 11 through 28.
10
11 Renumber succeeding sections accordingly.
12
13 Page 11, strike lines 7 and 8 and substitute "UTILITY'S USE OF THE
14 FUNDING WOULD NOT BE IN THE PUBLIC INTEREST.
15 (III) IF THE UTILITY PROPOSES TO USE FUNDING FROM THE ON-BILL
16 CASH FUND, THE UTILITY MAY PROPOSE TO USE THE FUNDING BY
17 RECEIVING FUNDING DIRECTLY FROM THE OFFICE, ELECTING TO HAVE A
18 UTILITY-DESIGNATED ADMINISTRATOR RECEIVE FUNDING FROM THE
19 OFFICE, OR BY PARTICIPATING IN A PROGRAM ADMINISTERED BY THE
20 PROGRAM ADMINISTRATOR.".
21
22 Page 11, after line 18 insert:
23
24 "(III) DESCRIBE HOW THE UTILITY PROPOSES TO TREAT SITUATIONS
25 INVOLVING INSUFFICIENT REPAYMENT BY PARTICIPATING CUSTOMERS;".
26
27 Renumber succeeding subparagraphs accordingly.
28
29 Page 11, line 21, strike "WILL" and substitute "MAY".
30
31 Page 11, strike lines 29 through 35 and substitute:
32
33 "(3) A UTILITY WITH MORE THAN FIVE HUNDRED THOUSAND
34 CUSTOMERS IN THE STATE MAY RECOVER ALL ON-BILL PROGRAM COSTS IN
35 ACCORDANCE WITH PART 6 OF ARTICLE 38.5 OF TITLE 24. A UTILITY SHALL
36 RECOVER ADMINISTRATIVE COSTS THROUGH BASE RATES OR AN
37 APPLICABLE RIDER BUT NOT THROUGH THE INTEREST RATE ESTABLISHED
38 FOR MONEY MADE AVAILABLE THROUGH THE ON-BILL PROGRAM. A
39 UTILITY SHALL RECOVER ITS ACTUAL ADMINISTRATIVE COSTS ASSOCIATED
40 WITH ITS ON-BILL PROGRAM AS APPROVED BY THE COMMISSION. A UTILITY
41 MAY RECOVER AN ON-BILL PROGRAM ADMINISTRATION FEE, AS DEFINED
42 IN SECTION 24-38.5-123 (2)(p), AND COSTS ASSOCIATED WITH MANAGING
43 THE RISK OF NONPAYMENT BY PARTICIPANTS THROUGH BASE RATES, AN
44 APPLICABLE RIDER, OR THE RATE ESTABLISHED FOR MONEY MADE
45 AVAILABLE THROUGH THE ON-BILL PROGRAM, AS APPROVED BY THE
46 COMMISSION. A UTILITY MAY PROPOSE OR MAY MAINTAIN A".
47
48 Page 11, line 39, strike "APRIL" and substitute "JUNE".
49
50 Page 12, line 17, strike "(3.3)" and substitute "(1)(e) and (3.3)".
51
52 Page 12, line 19, after "rules -" insert "reports -".
53
54 Page 12, after line 25 insert:
55
1 "(e) IF CLAIMS MADE PURSUANT TO THIS ARTICLE 13 EXCEED THE
2 BALANCE IN THE UNCLAIMED PROPERTY TRUST FUND, THE EXCESS
3 AMOUNT SHALL BE PAID OUT OF THE GENERAL FUND.".
4
5 Page 12, strike lines 26 through 35 and substitute:
6
7 "(3.3) (a) ON JULY 1, 2025, THE STATE TREASURER SHALL MAKE
8 AN".
9
10 Reletter succeeding subparagraph accordingly.
11
12 Page 12, line 36, strike "ONE HUNDRED" and substitute "FIVE".
13
14 Page 12, strike line 38 and substitute "CREATED IN SECTION 24-38.5-607;
15 EXCEPT THAT, IF THE CONDITION DESCRIBED IN SECTION 24-36-125 (2)(b)
16 OCCURS, THE STATE TREASURER SHALL NOT MAKE THE LOAN DESCRIBED
17 IN THIS SUBSECTION (3.3)(a). IF THE CONDITION DESCRIBED IN SECTION
18 24-36-125 (2)(b) OCCURS, THE STATE TREASURER SHALL TRANSFER
19 TWENTY-FIVE MILLION DOLLARS FROM THE ON-BILL FINANCING FUND
20 CREATED IN SECTION 24-36-125 (7) TO THE ON-BILL CASH FUND CREATED
21 IN SECTION 24-38.5-607 ONCE THE MONEY IN THE ON-BILL FINANCING
22 FUND REACHES TWENTY-FIVE MILLION DOLLARS. THE COLORADO ENERGY
23 OFFICE SHALL:".
24
25 Page 12, strike line 40 and substitute "DESCRIBED IN SECTION
26 24-38.5-603;
27 (II) ENTER INTO CONTRACTS THAT AUTHORIZE PARTICIPATING
28 UTILITIES AND THIRD-PARTY PROGRAM ADMINISTRATORS, AS THOSE TERMS
29 ARE DEFINED IN SECTION 24-38.5-602, TO REMIT ANY INTEREST DIRECTLY
30 TO THE UNCLAIMED PROPERTY TRUST FUND; AND".
31
32 Renumber succeeding subparagraph accordingly.
33
34 Page 13, strike lines 4 and 5 and substitute:
35
36 "(b) IF THE LOAN DESCRIBED IN SUBSECTION (3.3)(a) OF THIS
37 SECTION IS MADE ON JULY 1, 2025, THEN, ON MARCH 1, 2026, THE STATE
38 TREASURER SHALL MAKE AN ADDITIONAL INTEREST-FREE LOAN IN THE
39 AMOUNT OF TWENTY MILLION DOLLARS FROM THE UNCLAIMED PROPERTY
40 TRUST FUND TO THE ON-BILL CASH FUND CREATED IN SECTION
41 24-38.5-607. THE COLORADO ENERGY OFFICE SHALL:
42 (I) USE THE LOAN TO SUPPORT UTILITY ON-BILL PROGRAMS, AS
43 DESCRIBED IN SECTION 24-38.5-603; AND
44 (II) PAY THE LOAN BACK TO THE UNCLAIMED PROPERTY TRUST
45 FUND BY JANUARY 1, 2046. THE LOAN REPAYMENT IS SUBJECT TO FUTURE
46 APPROPRIATION BY THE GENERAL ASSEMBLY AND SHALL NOT BE DEEMED
47 OR CONSTRUED AS CREATING INDEBTEDNESS OF THE STATE WITHIN THE
48 MEANING OF THE STATE CONSTITUTION OR THE LAW OF THE STATE
49 CONCERNING LIMITING THE CREATION OF INDEBTEDNESS BY THE STATE.
50 (c) ON JULY 1, 2026, THE STATE TREASURER SHALL MAKE AN
51 INTEREST-FREE LOAN IN THE AMOUNT OF TWENTY-FIVE MILLION DOLLARS
52 FROM THE UNCLAIMED PROPERTY TRUST FUND TO THE ON-BILL CASH FUND
53 CREATED IN SECTION 24-38.5-607; EXCEPT THAT, IF THE CONDITION
54 DESCRIBED IN SECTION 24-36-125 (2)(c) OCCURS, THE STATE TREASURER
55 SHALL NOT MAKE THE LOAN DESCRIBED IN THIS SUBSECTION (3.3)(c). IF
1 THE CONDITION DESCRIBED IN SECTION 24-36-125 (2)(c) OCCURS, THE
2 STATE TREASURER SHALL TRANSFER TWENTY-FIVE MILLION DOLLARS
3 FROM THE ON-BILL FINANCING FUND CREATED IN SECTION 24-36-125 (7)
4 TO THE ON-BILL CASH FUND CREATED IN SECTION 24-38.5-607 ONCE THE
5 MONEY IN THE ON-BILL FINANCING FUND REACHES TWENTY-FIVE MILLION
6 DOLLARS. THE COLORADO ENERGY OFFICE SHALL:
7 (I) USE THE LOAN TO SUPPORT UTILITY ON-BILL PROGRAMS, AS
8 DESCRIBED IN SECTION 24-38.5-603; AND
9 (II) PAY THE LOAN BACK TO THE UNCLAIMED PROPERTY TRUST
10 FUND BY JANUARY 1, 2046. THE LOAN REPAYMENT IS SUBJECT TO FUTURE
11 APPROPRIATION BY THE GENERAL ASSEMBLY AND SHALL NOT BE DEEMED
12 OR CONSTRUED AS CREATING INDEBTEDNESS OF THE STATE WITHIN THE
13 MEANING OF THE STATE CONSTITUTION OR THE LAW OF THE STATE
14 CONCERNING LIMITING THE CREATION OF INDEBTEDNESS BY THE STATE.
15 (d) ON OR BEFORE DECEMBER 31, 2025, AND ON OR BEFORE
16 DECEMBER 31 OF EACH YEAR THEREAFTER, THE COLORADO ENERGY
17 OFFICE SHALL SUBMIT A REPORT TO THE STATE TREASURER AND THE STATE
18 CONTROLLER SUMMARIZING THE STATUS OF LOANS MADE TO UTILITIES
19 FROM THE MONEY LOANED FROM THE UNCLAIMED PROPERTY TRUST FUND
20 TO THE ON-BILL CASH FUND CREATED IN SECTION 24-38.5-607. THE
21 ANNUAL REPORT MUST INCLUDE INFORMATION REGARDING THE NUMBER
22 OF LOANS MADE TO UTILITIES TO DATE AND THE AMOUNTS LOANED TO
23 EACH UTILITY TO DATE.".
24
25 Page 13, line 27, strike "FINANCING" and substitute "FINANCIAL".
26
27 Page 14, line 5, strike "PUBLIC INTEREST" and substitute "BEST INTEREST
28 OF COVERED BUILDING OWNERS AND PARTICIPATING UTILITIES".
29
30 Page 14, strike lines 28 through 33 and substitute:
31
32 "(V) IT IS IN THE BEST INTEREST OF COVERED BUILDING OWNERS
33 TO CREATE A BUILDING DECARBONIZATION ENTERPRISE CASH FUND WITHIN
34 THE BUILDING DECARBONIZATION ENTERPRISE, THE USE OF WHICH IS
35 DEDICATED TO FINANCING THE PROVISION OF TECHNICAL SUPPORT FOR
36 COVERED BUILDING OWNERS SEEKING TO IMPLEMENT ENERGY EFFICIENCY
37 MEASURES AND BUILDING DECARBONIZATION MEASURES;
38 (VI) THE ACTIVITIES OF THE ENTERPRISE ARE FUNDED BY REVENUE
39 GENERATED FROM AN ON-BILL PROGRAM ADMINISTRATION FEE PAID BY
40 PARTICIPATING UTILITIES AND ANY GIFTS, GRANTS, AND DONATIONS
41 RECEIVED;
42 (VII) IT IS APPROPRIATE THAT PARTICIPATING UTILITIES SHOULD
43 PAY AN ON-BILL PROGRAM ADMINISTRATION FEE BECAUSE PARTICIPATING
44 UTILITIES ARE THE DIRECT BENEFICIARIES OF SERVICES THAT THE
45 ENTERPRISE PROVIDES, WHICH SERVICES INCLUDE TECHNICAL ASSISTANCE
46 AND OTHER PROGRAMMATIC SUPPORT FOR ON-BILL PROGRAMS DESCRIBED
47 IN SUBSECTION (1)(a)(III) OF THIS SECTION;
48 (VIII) PARTICIPATING UTILITIES BENEFIT FROM THE
49 IMPLEMENTATION OF ON-BILL PROGRAMS BECAUSE:
50 (A) UTILITY ON-BILL PROGRAMS CAN REDUCE ENERGY
51 CONSUMPTION AND PEAK DEMAND;
52 (B) UTILITY CUSTOMERS BENEFIT FROM HAVING ACCESS TO
53 SIGNIFICANT AMOUNTS OF PUBLIC AND PRIVATE CAPITAL FOR LOW-COST
54 FINANCING SOLUTIONS FOR ENERGY-RELATED IMPROVEMENTS, INCLUDING
55 END-OF-LIFE EQUIPMENT REPLACEMENT; AND
1 (C) UTILITY ON-BILL PROGRAMS THAT ALLOW REPAYMENTS
2 THROUGH UTILITY BILL PAYMENTS COULD EXPAND THE OPPORTUNITIES
3 FOR ELIGIBLE RETAIL UTILITY CUSTOMERS TO PURSUE ENERGY EFFICIENCY
4 MEASURES AND ELECTRIFICATION MEASURES, ENABLING UTILITY
5 CUSTOMERS TO PAY BACK THE UP-FRONT COSTS OF THE UPGRADES AND
6 MEASURES OVER TIME THROUGH THEIR UTILITY BILL PAYMENTS AT OR
7 BELOW INTEREST RATES THAT MAY BE AVAILABLE FROM OTHER SOURCES;
8 (IX) IT IS IN THE BEST INTEREST OF PARTICIPATING UTILITIES TO
9 CREATE AN ON-BILL CASH FUND WITHIN THE BUILDING DECARBONIZATION
10 ENTERPRISE, THE USE OF WHICH IS DEDICATED TO TECHNICAL ASSISTANCE
11 AND OTHER PROGRAMMATIC SUPPORT FOR ON-BILL PROGRAMS FOR
12 PARTICIPATING UTILITIES;".
13
14 Renumber succeeding subparagraphs accordingly.
15
16 Page 14, line 39, strike "IS A FEE, NOT A TAX," and substitute "AND THE
17 ON-BILL PROGRAM ADMINISTRATION FEE ARE BOTH FEES, NOT TAXES,".
18
19 Page 15, line 9, strike "UTILITY" and substitute "UTILITY, AS NECESSARY".
20
21 Page 15, line 10, strike "RETAIL CUSTOMERS;" and substitute "ELIGIBLE
22 RETAIL CUSTOMERS AND COLLECTED AT A RATE THAT IS REASONABLY
23 RELATED TO THE OVERALL COST OF THE BUSINESS SERVICES BEING
24 PROVIDED;".
25
26 Page 16, line 16, before "INSTALLED" insert "ARE".
27
28 Page 16, strike lines 17 and 18 and substitute "CUSTOMER'S PREMISES, THE
29 FINANCING OF WHICH IS REPAID THROUGH MONTHLY".
30
31 Page 17, line 17, strike "SUPPORT" and substitute "SUPPORT, AS
32 NECESSARY,".
33
34 Page 17, strike line 26.
35
36 Page 17, after line 28 insert:
37
38 "(D) PROVIDING CONSUMER EDUCATION AND MARKETING SUPPORT
39 TO INCREASE CUSTOMER PARTICIPATION IN THE PARTICIPATING UTILITIES'
40 ON-BILL PROGRAMS; AND".
41
42 Page 17, strike line 31 and substitute "DESIGNS AND TECHNICAL
43 ASSISTANCE FOR THE".
44
45 Page 18, line 17, strike "ENTERPRISE." and substitute "ENTERPRISE, BUT
46 NOT TO EXCEED THREE PERCENT.".
47
48 Page 19, line 17, after "duties" insert "of board".
49
50 Page 20, after line 4 insert:
51
52 "(VI) TO SEEK, ACCEPT, AND EXPEND GIFTS, GRANTS, AND
53 DONATIONS IN SUPPORT OF SERVICES THAT THE ENTERPRISE PROVIDES TO
54 COVERED BUILDING OWNERS FOR BUILDING DECARBONIZATION MEASURES
55 OR TO PARTICIPATING UTILITIES FOR ON-BILL PROGRAMS;".
1 Renumber succeeding subparagraphs accordingly.
2
3 Page 20, strike lines 7 through 10 and substitute "EXPANDING AN ON-BILL
4 PROGRAM, WHICH PROGRAM INCLUDES:
5 (A) DEVELOPING A FULL SET OF ON-BILL PROGRAM MODELS,
6 INCLUDING MODELS THAT ARE RUN BY THIRD-PARTY OPT-IN ON-BILL
7 PROGRAMS THAT PARTICIPATING UTILITIES ADOPT;
8 (B) ASSISTING UTILITIES IN MEETING REPORTING OBLIGATIONS SET
9 FORTH IN SECTION 24-38.5-603 (5)(a);
10 (C) PROVIDING TECHNICAL ASSISTANCE FOR THE IMPLEMENTATION
11 AND ADMINISTRATION OF ON-BILL PROGRAMS; AND
12 (D) PROVIDING CONSUMER EDUCATION AND MARKETING SUPPORT
13 TO INCREASE CUSTOMER PARTICIPATION IN THE PARTICIPATING UTILITIES'
14 ON-BILL PROGRAMS; AND".
15
16 Page 20, line 27, strike "DOLLARS" and substitute "DOLLARS, WHICH IS
17 REASONABLY RELATED TO THE OVERALL COST OF THE PROVIDED SERVICES
18 FUNDED BY THE BUILDING DECARBONIZATION FEE. THE FEE SHALL BE
19 PAID".
20
21 Page 20, line 36, strike "OFFICE" and substitute "ENTERPRISE".
22
23 Page 21, strike lines 3 and 4 and substitute:
24
25 "(B) IS COLLECTED ON BEHALF OF THE ENTERPRISE;
26 (C) IS HELD TEMPORARILY BY THE OFFICE AND THE STATE
27 TREASURER SOLELY".
28
29 Reletter succeeding sub-subparagraph accordingly.
30
31 Page 21, line 15, after the period add "TO ENSURE THAT THE ON-BILL
32 PROGRAM ADMINISTRATION FEE FOR EACH PARTICIPATING UTILITY IS
33 REASONABLY RELATED TO THE SERVICES PROVIDED BY THE ENTERPRISE,
34 THE BOARD SHALL SET THE ADMINISTRATION FEE WITHIN THE RANGES
35 SPECIFIED IN SUBSECTION (5)(c)(II) OF THIS SECTION BASED ON CRITERIA
36 INCLUDING:
37 (A) THE ANTICIPATED SIZE OF THE PROPOSED ON-BILL PROGRAM;
38 (B) THE NUMBER AND AMOUNT OF SERVICES THAT THE ENTERPRISE
39 INTENDS TO PROVIDE TO PARTICIPATING UTILITIES BASED ON THE SIZE OF
40 THE LOAN;
41 (C) WHETHER THE PARTICIPATING UTILITY IS SEEKING TO
42 ESTABLISH A NEW ON-BILL PROGRAM OR EXPAND AN EXISTING ON-BILL
43 PROGRAM; AND
44 (D) THE ESTIMATED NUMBER OF CUSTOMERS IN EACH RATE CLASS
45 FORECASTED TO PARTICIPATE IN THE ON-BILL PROGRAM.".
46
47 Page 21, line 16, strike "(5)(c)(III)" and substitute "(5)(c)(IV)".
48
49 Page 21, strike lines 19 through 23 and substitute "2025, AND ON OR
50 BEFORE NOVEMBER 1 OF EACH YEAR THEREAFTER, SO LONG AS THE
51 PARTICIPATING UTILITY IS ESTABLISHING, MAINTAINING, OR EXPANDING
52 ITS ON-BILL PROGRAM. THE ON-BILL PROGRAM ADMINISTRATION FEE MUST
53 BE BASED ON THE AMOUNT OF THE MONEY LOANED TO THE PARTICIPATING
54 UTILITY OR A UTILITY-DESIGNATED ADMINISTRATOR FROM THE ON-BILL
55 CASH FUND AS FOLLOWS:".
1 Page 22, after line 8 insert:
2
3 "(III) THE FEE RANGES PRESCRIBED IN SUBSECTION (5)(c)(II) OF
4 THIS SECTION ARE REASONABLY RELATED TO THE OVERALL COST OF THE
5 SERVICES PROVIDED. THE COST OF SERVICES TO FEE PAYERS THAT RECEIVE
6 LARGER LOANS IS HIGHER BECAUSE PARTICIPATING UTILITIES THAT
7 RECEIVE LARGER LOANS WILL REQUIRE GREATER SERVICES FROM THE
8 ENTERPRISE, INCLUDING SERVICES FOR TECHNICAL SUPPORT, PROGRAM
9 DEVELOPMENT, AND RATE IMPACT MODELING FOR LARGER AND MORE
10 COMPLEX ON-BILL PROGRAMS.".
11
12 Renumber succeeding subparagraphs accordingly.
13
14 Page 22, line 11, after "UTILITY'S" insert "OR ITS UTILITY-DESIGNATED
15 ADMINISTRATOR'S".
16
17 Page 22, line 15, after "INFLATION." insert "IN EVALUATING THE FEE, THE
18 BOARD MAY ALSO CONSIDER WHETHER THE ADMINISTRATION FEE SHOULD
19 BE BASED ON THE ORIGINAL LOAN AMOUNT BORROWED OR ON THE
20 PRINCIPAL HELD BY THE UTILITY OR ITS UTILITY-DESIGNATED
21 ADMINISTRATOR. IN MAKING THIS EVALUATION, THE BOARD SHALL
22 CONSIDER THE LEVEL OF FEE NEEDED TO ADMINISTER THE ON-BILL
23 PROGRAM.".
24
25 Page 22, line 27, before "repeal." insert "gifts, grants, and donations - ".
26
27 Page 22, after line 31 insert:
28
29 "(II) ANY MONEY THAT THE ENTERPRISE RECEIVES AS GIFTS,
30 GRANTS, AND DONATIONS IN SUPPORT OF SERVICES THAT THE ENTERPRISE
31 PROVIDES TO COVERED BUILDING OWNERS FOR BUILDING
32 DECARBONIZATION MEASURES;".
33
34 Renumber succeeding subparagraphs accordingly.
35
36 Page 23, line 18, before "repeal." insert "gifts, grants, and donations -".
37
38 Page 23, after line 23 insert:
39
40 "(II) ANY MONEY THAT THE ENTERPRISE RECEIVES AS GIFTS,
41 GRANTS, AND DONATIONS IN SUPPORT OF SERVICES THAT THE ENTERPRISE
42 PROVIDES TO PARTICIPATING UTILITIES FOR ON-BILL PROGRAMS;".
43
44 Renumber succeeding subparagraphs accordingly.
45
46 Page 24, after line 3 insert:
47
48 "SECTION 5. In Colorado Revised Statutes, add 24-36-125 as
49 follows:
50 24-36-125. On-bill financing tax credits - authorization to
51 issue - terms - use of tax credits - carry over - on-bill financing fund
52 - creation - definitions - repeal. (1) Definitions. AS USED IN THIS
53 SECTION, UNLESS THE CONTEXT OTHERWISE REQUIRES:
54
1 (a) "APPLICABLE FORECAST" MEANS EITHER THE QUARTERLY
2 DECEMBER REVENUE FORECAST PREPARED BY LEGISLATIVE COUNCIL
3 STAFF OR THE QUARTERLY DECEMBER REVENUE FORECAST PREPARED BY
4 THE OFFICE OF STATE PLANNING AND BUDGETING IN THE DECEMBER
5 IMMEDIATELY PRECEDING THE APPLICABLE STATE FISCAL YEAR, AS
6 DETERMINED BY WHICH IMMEDIATELY PRECEDING MARCH FORECAST THE
7 JOINT BUDGET COMMITTEE OF THE GENERAL ASSEMBLY USED IN THE
8 PREPARATION OF THE STATE BUDGET.
9 (b) "DEPARTMENT" MEANS THE DEPARTMENT OF THE TREASURY.
10 (c) "FORECAST" MEANS THE QUARTERLY JUNE REVENUE FORECAST
11 PREPARED BY THE OFFICE OF STATE PLANNING AND BUDGETING IN JUNE
12 2025.
13 (d) "NONEXEMPT REVENUE" MEANS, FOR THE APPLICABLE STATE
14 FISCAL YEAR, THE REVENUE THAT IS IDENTIFIED AS NONEXEMPT TABOR
15 REVENUES IN THE ANNUAL COMPREHENSIVE FINANCIAL REPORT PUBLISHED
16 BY THE OFFICE OF THE STATE CONTROLLER.
17 (e) "ON-BILL FINANCING FUND" MEANS THE ON-BILL FINANCING
18 FUND CREATED IN SUBSECTION (7) OF THIS SECTION.
19 (f) "ON-BILL FINANCING TAX CREDIT" OR "TAX CREDIT" MEANS THE
20 TAX CREDIT AUTHORIZED IN SUBSECTION (2) OF THIS SECTION.
21 (g) "PREMIUM TAX LIABILITY" MEANS THE LIABILITY IMPOSED BY
22 SECTION 10-3-209 OR 10-6-128 OR, IN THE CASE OF A REPEAL OR
23 REDUCTION BY THE STATE OF THE LIABILITY IMPOSED BY SECTION
24 10-3-209 OR 10-6-128, ANY OTHER TAX LIABILITY IMPOSED UPON AN
25 INSURANCE COMPANY BY THE STATE.
26 (h) (I) "QUALIFIED TAXPAYER" MEANS AN INSURANCE COMPANY
27 AUTHORIZED TO DO BUSINESS IN COLORADO THAT HAS PREMIUM TAX
28 LIABILITY OWING TO THE STATE AND THAT PURCHASES A TAX CREDIT
29 UNDER THIS SECTION.
30 (II) "QUALIFIED TAXPAYER" INCLUDES AN INSURANCE COMPANY
31 THAT RECEIVES OR ASSUMES A TAX CREDIT TRANSFER.
32 (i) "REF C CAP" MEANS THE LIMIT ON STATE FISCAL YEAR
33 SPENDING FROM SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION,
34 AS MODIFIED BY REFERENDUM C.
35 (j) "TABOR" MEANS SECTION 20 OF ARTICLE X OF THE STATE
36 CONSTITUTION.
37 (k) "TAX CREDIT SALE PROCEEDS" OR "SALE PROCEEDS" MEANS
38 THE MONEY OR OTHER LIQUID ASSET ACCEPTABLE TO THE STATE
39 TREASURER THAT A QUALIFIED TAXPAYER PAYS TO THE DEPARTMENT
40 THAT IS DEPOSITED IN THE ON-BILL FINANCING FUND.
41 (2) On-bill financing tax credits. (a) SUBJECT TO SUBSECTIONS
42 (2)(b) AND (2)(c) OF THIS SECTION, A QUALIFIED TAXPAYER MAY
43 PURCHASE ON-BILL FINANCING TAX CREDITS FROM THE DEPARTMENT IN
44 ACCORDANCE WITH THIS SECTION AND MAY APPLY THE TAX CREDITS
45 AGAINST THE QUALIFIED TAXPAYER'S PREMIUM TAX LIABILITY IN
46 ACCORDANCE WITH SUBSECTION (6) OF THIS SECTION.
47 (b) IF THE FORECAST SHOWS THAT THE STATE'S NONEXEMPT
48 REVENUE FOR THE 2025-26 STATE FISCAL YEAR IS AT LEAST FIFTY MILLION
49 DOLLARS UNDER THE REF C CAP:
50 (I) THE DEPARTMENT IS REQUIRED TO ISSUE TAX CREDIT
51 CERTIFICATES TO QUALIFIED TAXPAYERS WITH TOTAL SALE PROCEEDS OF
52 AT LEAST TWENTY-FIVE MILLION DOLLARS IN STATE FISCAL YEAR 2025-26;
53 AND
54
1 (II) THE TAX CREDIT SALE PROCEEDS DEPOSITED INTO THE ON-BILL
2 FINANCING FUND PURSUANT TO SUBSECTION (5) OF THIS SECTION SHALL BE
3 USED TO FINANCE UTILITIES' ON-BILL PROGRAMS PURSUANT TO PART 6 OF
4 ARTICLE 38.5 OF THIS TITLE 24.
5 (c) IF THE APPLICABLE FORECAST SHOWS THAT THE STATE'S
6 NONEXEMPT REVENUE FOR THE 2026-27 STATE FISCAL YEAR IS AT LEAST
7 FIFTY MILLION DOLLARS UNDER THE REF C CAP:
8 (I) THE DEPARTMENT IS REQUIRED TO ISSUE TAX CREDIT
9 CERTIFICATES TO QUALIFIED TAXPAYERS WITH TOTAL SALE PROCEEDS OF
10 AT LEAST TWENTY-FIVE MILLION DOLLARS IN STATE FISCAL YEAR 2026-27;
11 AND
12 (II) THE TAX CREDIT SALE PROCEEDS DEPOSITED INTO THE ON-BILL
13 FINANCING FUND PURSUANT TO SUBSECTION (5) OF THIS SECTION SHALL BE
14 USED TO FINANCE UTILITIES' ON-BILL PROGRAMS PURSUANT TO PART 6 OF
15 ARTICLE 38.5 OF THIS TITLE 24.
16 (d) THE DEPARTMENT MAY CONTRACT WITH AN INDEPENDENT
17 THIRD PARTY TO CONDUCT OR CONSULT ON A BIDDING PROCESS AMONG
18 QUALIFIED TAXPAYERS TO PURCHASE THE TAX CREDITS.
19 (e) THE DEPARTMENT SHALL CONSULT WITH INSURANCE
20 COMPANIES IN ADVANCE OF ISSUING ANY TAX CREDITS IN ACCORDANCE
21 WITH THIS SECTION.
22 (f) AN INSURANCE COMPANY AUTHORIZED TO DO BUSINESS IN
23 COLORADO SEEKING TO PURCHASE TAX CREDITS MUST APPLY TO THE
24 DEPARTMENT IN THE MANNER PRESCRIBED BY THE DEPARTMENT.
25 (3) Procedure for obtaining a tax credit certificate. (a) USING
26 PROCEDURES ADOPTED BY THE DEPARTMENT OR, IF APPLICABLE, BY AN
27 INDEPENDENT THIRD PARTY, EACH INSURANCE COMPANY THAT SUBMITS
28 AN APPLICATION FOR ON-BILL FINANCING TAX CREDITS SHALL MAKE A
29 TIMELY AND IRREVOCABLE OFFER, CONTINGENT ONLY UPON THE
30 DEPARTMENT'S ISSUANCE TO THE INSURANCE COMPANY OF THE TAX
31 CREDIT CERTIFICATES, TO MAKE A SPECIFIED PURCHASE PAYMENT AMOUNT
32 TO THE DEPARTMENT ON DATES SPECIFIED BY THE DEPARTMENT.
33 (b) THE OFFER MUST INCLUDE ALL OF THE FOLLOWING:
34 (I) THE REQUESTED AMOUNT OF TAX CREDITS, WHICH AMOUNT
35 MUST NOT BE LESS THAN ANY MINIMUM AMOUNT ESTABLISHED IN THE
36 DEPARTMENT'S PROCEDURES OR, IF APPLICABLE, THE INDEPENDENT THIRD
37 PARTY'S PROCEDURES;
38 (II) THE QUALIFIED TAXPAYER'S PROPOSED TAX CREDIT PURCHASE
39 AMOUNT FOR EACH TAX CREDIT DOLLAR REQUESTED;
40 (III) THE MINIMUM PROPOSED TAX CREDIT PURCHASE AMOUNT
41 MUST BE EITHER:
42 (A) THE PERCENTAGE OF THE REQUESTED DOLLAR AMOUNT OF TAX
43 CREDITS THAT THE DEPARTMENT OR, IF APPLICABLE, THE INDEPENDENT
44 THIRD PARTY DETERMINES TO BE CONSISTENT WITH MARKET CONDITIONS
45 AS OF THE OFFER DATE; OR
46 (B) IF NO AMOUNT IS ESTABLISHED BY THE DEPARTMENT OR THE
47 INDEPENDENT THIRD PARTY PURSUANT TO SUBSECTION (3)(b)(III)(A) OF
48 THIS SECTION, SEVENTY-FIVE PERCENT OF THE REQUESTED DOLLAR
49 AMOUNT OF TAX CREDITS; AND
50 (IV) ANY OTHER INFORMATION THAT THE DEPARTMENT OR, IF
51 APPLICABLE, THE INDEPENDENT THIRD PARTY REQUIRES.
52 (c) THE DEPARTMENT SHALL PROVIDE WRITTEN NOTICE TO EACH
53 INSURANCE COMPANY THAT SUBMITS AN APPLICATION INDICATING
54 WHETHER THE INSURANCE COMPANY HAS BEEN APPROVED AS A
1 PURCHASER OF TAX CREDITS AND, IF SO, THE AMOUNT OF TAX CREDITS
2 ALLOCATED AND THE DATE BY WHICH PAYMENT OF THE TAX CREDIT SALE
3 PROCEEDS MUST BE MADE.
4 (d) ON RECEIPT OF PAYMENT OF THE SALE PROCEEDS, THE
5 DEPARTMENT SHALL ISSUE TO EACH QUALIFIED TAXPAYER A TAX CREDIT
6 CERTIFICATE. THE TAX CREDIT CERTIFICATE MUST STATE ALL OF THE
7 FOLLOWING:
8 (I) THE TOTAL AMOUNT OF PREMIUM TAX CREDITS THAT THE
9 QUALIFIED TAXPAYER MAY CLAIM;
10 (II) THE AMOUNT THAT THE QUALIFIED TAXPAYER HAS PAID OR
11 AGREED TO PAY IN RETURN FOR THE ISSUANCE OF THE TAX CREDIT
12 CERTIFICATES AND THE DATE OF THE PAYMENT;
13 (III) THE DATES ON WHICH THE TAX CREDITS WILL BE AVAILABLE
14 FOR USE BY THE QUALIFIED TAXPAYER;
15 (IV) ANY PENALTIES OR OTHER REMEDIES FOR NONCOMPLIANCE;
16 (V) THE PROCEDURES TO BE USED FOR TRANSFERRING OR
17 ASSUMING THE TAX CREDITS IN ACCORDANCE WITH SUBSECTION (6)(d) OF
18 THIS SECTION;
19 (VI) THE SERIAL NUMBER OF THE TAX CREDIT CERTIFICATE; AND
20 (VII) ANY OTHER REQUIREMENTS DEEMED NECESSARY BY THE
21 DEPARTMENT AS A CONDITION OF ISSUING THE TAX CREDIT CERTIFICATE.
22 (4) Defaulted tax credits - reallocation process - penalty.
23 (a) THE DEPARTMENT SHALL NOT ISSUE A TAX CREDIT CERTIFICATE TO A
24 QUALIFIED TAXPAYER THAT FAILS TO PROVIDE THE TAX CREDIT SALE
25 PROCEEDS WITHIN THE TIME THE DEPARTMENT SPECIFIES.
26 (b) A QUALIFIED TAXPAYER THAT FAILS TO PROVIDE THE TAX
27 CREDIT SALE PROCEEDS WITHIN THE TIME THE DEPARTMENT SPECIFIES IS
28 SUBJECT TO A PENALTY EQUAL TO TEN PERCENT OF THE AMOUNT OF THE
29 PURCHASE PRICE THAT REMAINS UNPAID. THE PENALTY SHALL BE PAID TO
30 THE DEPARTMENT WITHIN THIRTY DAYS AFTER DEMAND.
31 (c) THE DEPARTMENT MAY OFFER TO REALLOCATE THE DEFAULTED
32 TAX CREDITS AMONG OTHER QUALIFIED TAXPAYERS SO THAT THE RESULT
33 AFTER REALLOCATION IS THE SAME AS IF THE INITIAL ALLOCATION HAD
34 BEEN PERFORMED WITHOUT CONSIDERING THE TAX CREDIT ALLOCATION
35 TO THE DEFAULTING QUALIFIED TAXPAYER.
36 (d) IF THE REALLOCATION OF TAX CREDITS UNDER SUBSECTION
37 (4)(c) OF THIS SECTION RESULTS IN THE PAYMENT BY ANOTHER QUALIFIED
38 TAXPAYER OF THE AMOUNT OF TAX CREDIT SALE PROCEEDS NOT PAID BY
39 THE DEFAULTING QUALIFIED TAXPAYER, THE DEPARTMENT MAY WAIVE
40 THE PENALTY IMPOSED UNDER SUBSECTION (4)(b) OF THIS SECTION.
41 (e) A QUALIFIED TAXPAYER THAT FAILS TO PAY THE TAX CREDIT
42 SALE PROCEEDS WITHIN THE TIME SPECIFIED MAY AVOID THE IMPOSITION
43 OF THE PENALTY BY TRANSFERRING THE ALLOCATION OF TAX CREDITS TO
44 A NEW OR EXISTING QUALIFIED TAXPAYER WITHIN THIRTY DAYS AFTER THE
45 DUE DATE OF THE DEFAULTED INSTALLMENT. A TRANSFEREE OF AN
46 ALLOCATION OF TAX CREDITS OF A DEFAULTING QUALIFIED TAXPAYER
47 UNDER THIS SUBSECTION (4) SHALL AGREE TO PAY TAX CREDIT SALE
48 PROCEEDS WITHIN FIVE DAYS AFTER THE DATE OF THE TRANSFER.
49 (5) Deposit of tax credit sale proceeds into fund. THE STATE
50 TREASURER SHALL DEPOSIT THE TAX CREDIT SALE PROCEEDS PROVIDED BY
51 A QUALIFYING TAXPAYER IN RETURN FOR A TAX CREDIT CERTIFICATE INTO
52 THE ON-BILL FINANCING FUND.
53 (6) Process for claiming tax credits - carry over authorized -
54 tax credits are nonrefundable - transfer and assumption of tax credit.
1 (a) (I) FOR A TAX CREDIT CERTIFICATE THAT THE DEPARTMENT ISSUES IN
2 STATE FISCAL YEAR 2025-26, THE DEPARTMENT, IN CONSULTATION WITH
3 THE OFFICE OF STATE PLANNING AND BUDGETING, PRIOR TO THE SALE, MAY
4 DETERMINE THE CALENDAR YEARS IN WHICH THE QUALIFIED TAXPAYER
5 MAY CLAIM THEIR CREDIT AGAINST PREMIUM TAX LIABILITY.
6 (II) FOR A TAX CREDIT CERTIFICATE THAT THE DEPARTMENT
7 ISSUES IN STATE FISCAL YEAR 2026-27, THE DEPARTMENT, IN
8 CONSULTATION WITH THE OFFICE OF STATE PLANNING AND BUDGETING,
9 PRIOR TO THE SALE, MAY DETERMINE THE CALENDAR YEARS IN WHICH THE
10 QUALIFIED TAXPAYER MAY CLAIM THEIR CREDIT AGAINST
House Journal, April 22
45 HB25-1268 be amended as follows, and as so amended, be referred to
46 the Committee of the Whole with favorable
47 recommendation:
48
49 Amend the Energy and Environment Committee Report, dated March 20,
50 2025, page 22, strike line 43.
51
52 Page 23, strike line 1 and substitute:
53
54 "(c) SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL
55 ASSEMBLY, THE ENTERPRISE MAY EXPEND MONEY FROM THE BUILDING
56 DECARBONIZATION ENTERPRISE CASH FUND FOR THE PURPOSES".
1 Page 23, strike lines 35 and 36 and substitute:
2
3 "(c) SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL
4 ASSEMBLY, THE ENTERPRISE MAY EXPEND MONEY FROM THE ON-BILL
5 PROGRAM ADMINISTRATION CASH FUND FOR THE".
6
7 Page 24, before line 4 insert:
8
9 "SECTION 6. Appropriation. (1) For the 2025-26 state fiscal
10 year, $200,000 is appropriated to the office of the governor for use by the
11 Colorado energy office. This appropriation is from the on-bill program
12 administration cash fund created in section 24-38.5-123 (8)(a), C.R.S.,
13 and is based on an assumption that the office will require an additional
14 0.8 FTE. To implement this act, the office may use this appropriation for
15 on-bill program administration.
16 (2) For the 2025-26 state fiscal year, $1,992,000 is appropriated
17 to the office of the governor for use by the Colorado energy office. This
18 appropriation is from the building decarbonization enterprise cash fund
19 created in section 24-38.5-123 (6)(a), C.R.S. To implement this act, the
20 office may use this appropriation for the building decarbonization
21 enterprise.".
22
23 Renumber succeeding sections accordingly.
24
25 Page 24, after line 13 insert:
26
27 "Page 1 of the bill, line 102, strike "IMPROVEMENTS." and substitute
28 "IMPROVEMENTS, AND, IN CONNECTION THEREWITH, MAKING AN
29 APPROPRIATION."."
30
31
House Journal, April 22
23 Amendment No. 1, Appropriations Report, dated April 22, 2025, and
24 placed in member’s bill file; Report also printed in House Journal,
25 April 22, 2025.
26
27 Amendment No. 2, Finance Report, dated April 7, 2025, and placed in
28 member’s bill file; Report also printed in House Journal, April 9, 2025.
29
30 Amendment No. 3, Energy & Environment Report, dated March 20,
31 2025, and placed in member’s bill file; Report also printed in House
32 Journal, March 21, 2025.
33
34 Amendment No. 4, Representative Froelich:
35
36 Amend the Appropriations Committee Report, dated April 22, 2025, page
37 1, line 12, strike "6." and substitute "7.".
38
39 Page 2, strike line 2 and substitute "enterprise.
40 SECTION 8. Effective date. This act takes effect upon passage;
41 except that subsection (2) of section 7 of this act takes effect only if
42 House Bill 25-1269 does not become law.".".
43
44 Amendment No. 5, by Representative Froelich:
45
46 Amend the Appropriations Committee Report, dated April 22, 2025, page
47 1, line 19, strike "$1,992,000" and substitute "$3,000,000".
48
49 Amendment No. 6, by Representative Froelich:
50
51 Amend the Finance Committee Report, dated April 7, 2025, page 13, line
52 1, after "OTHER" insert "PREMIUM".
53
54
1 Amendment No. 7, by Representative Froelich:
2
3 Amend the Finance Committee Report, dated April 7, 2025, page 2, line
4 16, after "UTILITY" insert "OR PROGRAM ADMINISTRATOR".
5
6 Page 2 of the Finance report, line 19, strike "FUND."." and substitute
7 "FUND IF MONEY IS LOANED FROM THE UNCLAIMED PROPERTY TRUST FUND
8 TO THE ON-BILL CASH FUND PURSUANT TO SECTION 38-13-801 (3.3). IF
9 MONEY IS INSTEAD TRANSFERRED FROM THE ON-BILL FINANCING FUND
10 CREATED IN SECTION 24-36-125 (7), THE ONE-PERCENT INTEREST RATE
11 REQUIREMENT DOES NOT APPLY.".".
12
13 Page 3 of the Finance report, after line 20 insert:
14
15 "Page 6 of the Energy and Environment Committee Report, line 2, strike
16 "(5)(b)" and substitute "(6)(b)".".
17
18 Page 4 of the Finance report, strike line 4 and substitute:
19
20 "(a) (I) WHERE THE FINANCING IS ATTACHED TO THE METERED
21 UTILITY SERVICE AND IS NOT A SECURITY INTEREST IN THE PROPERTY,
22 THE".
23
24 Page 4 of the Finance report, line 10, strike "METER," and substitute
25 "METERED UTILITY SERVICE,".
26
27 Page 4 of the Finance report, line 11, strike "AND".
28
29 Page 4 of the Finance report, strike line 12 and substitute "TERMS OF
30 REPAYMENT, AND A STATEMENT THAT THE REPAYMENT OBLIGATION DOES
31 NOT CONSTITUTE A LIEN ON THE PROPERTY BUT IS INTENDED TO GIVE A
32 PURCHASER OF THE PROPERTY NOTICE THAT THE PROPERTY IS SUBJECT TO
33 AN ON-BILL REPAYMENT OBLIGATION.
34 (II) THE OFFICE SHALL ALSO ESTABLISH A".
35
36 Page 4 of the Finance report, after line 19 insert:
37
38 "(III) AT THE POINT OF SALE OF THE REAL PROPERTY SUBJECT TO
39 THE ON-BILL REPAYMENT OBLIGATION, THE ON-BILL REPAYMENT
40 OBLIGATION MAY TRANSFER WITH THE METERED UTILITY SERVICE UNLESS
41 OTHERWISE REQUIRED BY FEDERAL LAW OR REGULATION.".
42
43 Page 4 of the Finance report, line 20, strike "OWNER," and substitute
44 "OWNER SECURED BY THE REAL PROPERTY,".
45
46 Page 4 of the Finance report, line 27, strike "LOAN" and substitute
47 "FINANCING LOAN TO THE PROPERTY OWNER".
48
49 Page 4 of the Finance report, line 28, before "LOAN." insert "FINANCING".
50
51 Page 4 of the Finance report, line 30, strike "TO REMOVE THE LIEN." and
52 substitute "A RELEASE OF THE LIEN IN THE PUBLIC RECORDS OF THE
53 COUNTY IN WHICH THE PROPERTY IS LOCATED.".
54
1 Page 4 of the Finance report, strike lines 36 through 39.
2
3 Renumber succeeding subsection accordingly.
4
5 Page 5 of the Finance report, after line 2 insert:
6
7 "Page 10 of the Energy report, lines 42 and 43, strike "GAS, ELECTRIC, OR
8 COMBINED FUEL UTILITY" and substitute "GAS OR ELECTRIC UTILITY OR A
9 UTILITY WITH COMBINED FUEL CUSTOMERS".".
10
11 Page 5 of the Finance report, after line 10 insert:
12
13 "Page 11 of the Energy report, line 16, strike "RETAIL".".
14
15 Page 6 of the Finance report, line 24, strike "THIRD-PARTY PROGRAM
16 ADMINISTRATOR S ," and substitute "UTILITY-DESIGNATED
17 ADMINISTRATORS,".
18
19 Page 7 of the Finance report, line 34, after "UTILITIES" insert "OR
20 UTILITY-DESIGNATED ADMINISTRATORS".
21
22 Page 7 of the Finance report, strike lines 38 and 39 and substitute "OF
23 LOANS MADE TO PARTICIPATING UTILITIES OR UTILITY-DESIGNATED
24 ADMINISTRATORS TO DATE AND THE AMOUNTS LOANED TO EACH UTILITY
25 OR UTILITY-DESIGNATED ADMINISTRATOR TO DATE.".".
26
27 Page 7 of the Finance report, after line 40 insert:
28
29 "Page 13 of the Energy report, strike lines 30 through 33 and substitute
30 "LIMITED TO, PROGRAMS THAT PROVIDE ASSISTANCE FOR CONDUCTING
31 BUILDING ENERGY".".
32
33 Page 8 of the Finance report, after line 1 insert:
34
35 "Page 14 of the Energy report, strike lines 22 through 27 and substitute
36 "SUCH MEASURES CAN REDUCE COVERED BUILDING OWNERS' LONG-TERM
37 COSTS RELATED TO ENERGY USE;".".
38
39 Page 9 of the Finance report, line 3, strike "NECESSARY"." and substitute
40 "NECESSARY,".".
41
42 Page 9 of the Finance report, after line 7 insert:
43
44 "Page 15 of the Energy report, line 33, strike "OR "FEE"".".
45
46 Page 10 of the Finance report, line 7, strike "(5)(a);" and substitute
47 "(6)(a);".
48
49 Page 10 of the Finance report, after line 12 insert:
50
51 "Page 20 of the Energy report, line 18, strike "SECTION" and substitute
52 "SUBSECTION (5)".".
53
54 Page 10 of the Finance report, after line 17 insert:
1 "Page 20 of the Energy report, after line 38 insert:
2
3 "(IV) NOTWITHSTANDING SUBSECTION (5)(b)(I) OF THIS SECTION,
4 THE BOARD SHALL NOT SET THE BUILDING DECARBONIZATION FEE IN AN
5 AMOUNT HIGHER THAN THAT AUTHORIZED BY SUBSECTIONS (5)(b)(II) AND
6 (5)(b)(III) OF THIS SECTION.".
7
8 Renumber succeeding subparagraphs accordingly.
9
10 Page 20 of the Energy report, line 43, strike "(5)(b)(IV)" and substitute
11 "(5)(b)(V)".".
12
13 Page 10 of the Finance report, strike lines 18 through 20 and substitute:
14
15 "Page 21 of the Energy report, strike lines 2 through 4 and substitute:
16
17 "(A) IS COLLECTED ON BEHALF OF THE ENTERPRISE;
18 (B) IS HELD TEMPORARILY BY THE OFFICE AND THE STATE".".
19
20 Page 12 of the Finance report, after line 7 insert:
21
22 "Page 24 of the Energy report, line 2, after "ADMINISTRATION" insert
23 "CASH".".
24
25 Page 17 of the Finance report, after line 32 insert:
26
27 "Page 24 of the Energy report, strike lines 4 through 7.".
28
29 As amended, ordered engrossed and placed on the Calendar for Third
30 Reading and Final Passage.
31
Senate Journal, April 30
After consideration on the merits, the Committee recommends that HB25-1268 be
amended as follows, and as so amended, be referred to the Committee on Appropriations
with favorable recommendation.
Amend reengrossed bill, page 6, strike lines 20 and 21 and substitute "A
PARTICIPATING UTILITY, A UTILITY-DESIGNATED ADMINISTRATOR, OR THE
PROGRAM ADMINISTRATOR, MONEY PROVIDED TO THE PARTICIPATING UTILITY,
A UTILITY-DESIGNATED ADMINISTRATOR, OR THE PROGRAM ADMINISTRATOR".
Page 7, line 11, strike "PROGRAM" and substitute "ITS UTILITY DESIGNATED".
Page 8, lines 4 and 5, strike "A PARTICIPATING UTILITY'S UTILITY-DESIGNATED
ADMINISTRATOR OR A" and substitute "A PARTICIPATING UTILITY, ITS
UTILITY-DESIGNATED ADMINISTRATOR, OR THE".
Page 9, line 3 and 4, strike "UTILITY OR THE REGULATED UTILITY'S" and
substitute "PARTICIPATING UTILITY OR ITS".
Page 9, strike lines 7 through 10 and substitute:
"(d) A PARTICIPATING UTILITY, ITS UTILITY-DESIGNATED
ADMINISTRATOR, OR THE PROGRAM ADMINISTRATOR SHALL BE RESPONSIBLE
FOR REPAYING THE AMOUNT OF FUNDING PROVIDED FROM THE ON-BILL CASH
FUND TO THE PARTICIPATING UTILITY, ITS UTILITY-DESIGNATED
ADMINISTRATOR, OR THE PROGRAM ADMINISTRATOR.".
Page 11, line 21, strike "SECTION." and substitute "SECTION, SO LONG AS THE
UTILITY REPORTS INFORMATION IN DEMAND-SIDE MANAGEMENT REPORTING OR
IN ANOTHER REPORT, AS DIRECTED BY THE COMMISSION, REGARDING PROGRAM
PARTICIPANTS' BAD DEBT OR LACK OF FULL PAYMENT FOR UTILITY SERVICE AND
THE REPAYMENT OBLIGATION ASSOCIATED WITH THE UTILITY'S ON-BILL
PROGRAM.
(7) FOR A PARTICIPATING UTILITY WITH MORE THAN FIVE HUNDRED
THOUSAND CUSTOMERS IN THE STATE THAT ELECTS TO USE A
UTILITY-DESIGNATED ADMINISTRATOR FOR ITS ON-BILL PROGRAM:
(a) A LOAN FROM THE ON-BILL CASH FUND SHALL BE MADE DIRECTLY
TO THE UTILITY-DESIGNATED ADMINISTRATOR AND SHALL NOT BE MADE IN A
MANNER THAT REQUIRES THE LOAN TO BE REFLECTED IN THE FINANCIAL
STATEMENTS OF THE PARTICIPATING UTILITY;
(b) THE PARTICIPATING UTILITY SHALL ACT ONLY AS THE COLLECTION
AGENT FOR ITS UTILITY-DESIGNATED ADMINISTRATOR; AND
(c) THE UTILITY-DESIGNATED ADMINISTRATOR MAY ADDRESS THE RISK
OF LOSSES ASSOCIATED WITH THE LOANS AND BAD DEBT IN THE INTEREST RATES
CHARGED TO PROGRAM PARTICIPANTS.".
Page 15, strike lines 25 and 26 and substitute "PURSUANT TO SECTION
24-38.5-604, A PARTICIPATING UTILITY THAT, ON THE EFFECTIVE DATE OF THIS
SECTION, HAS AN EXISTING ON-BILL PROGRAM AND ITS OWN
UTILITY-DESIGNATED ADMINISTRATOR MAY SEEK".
Page 19, after line 27 insert:
"(b) IN EVALUATING WHETHER A UTILITY'S ON-BILL PROGRAM IS IN THE
PUBLIC INTEREST, THE COMMISSION SHALL ENSURE THAT, IF A PROGRAM
PARTICIPANT'S UTILITY BILL PAYMENT IS INSUFFICIENT TO COVER BOTH THE
COSTS OF UTILITY SERVICE AND THEIR REPAYMENT OBLIGATION ASSOCIATED
WITH THE UTILITY'S ON-BILL PROGRAM, THE UTILITY APPLIES THE CUSTOMER'S
PAYMENT IN A MANNER THAT PRIORITIZES COVERAGE OF THE COSTS OF UTILITY
SERVICE BEFORE APPLYING ANY OF THE PAYMENT TOWARD THEIR REPAYMENT
OBLIGATION ASSOCIATED WITH THE UTILITY'S ON-BILL PROGRAM, UNLESS THE
COMMISSION FINDS THAT AN ALTERNATIVE PAYMENT APPLICATION STRUCTURE:
(I) DOES NOT HARM NONPARTICIPATING CUSTOMERS;
(II) DOES NOT HARM THE UTILITY'S FINANCIAL HEALTH; OR
(III) ALLOWS FOR ACCESS TO LOWER-COST CAPITAL TO FUND THE
ON-BILL PROGRAM.".
Reletter succeeding paragraph accordingly.
Page 20, line 8, strike "(1)(e)" and substitute "(2)(e)".
Page 20, strike lines 17 through 19 and substitute:
"(2) (e) IF CLAIMS MADE PURSUANT TO THIS ARTICLE 13 EXCEED THE
BALANCE IN THE UNCLAIMED PROPERTY TRUST FUND, THE STATE TREASURER
SHALL TRANSFER FROM THE GENERAL FUND TO THE UNCLAIMED PROPERTY
TRUST FUND AN AMOUNT NEEDED TO PAY THE CLAIMS AND SHALL NOTIFY THE
JOINT BUDGET COMMITTEE OF THE GENERAL ASSEMBLY OF THE TRANSFER AND
THE AMOUNT OF THE TRANSFER FROM THE GENERAL FUND.".
Page 22, line 27, strike "UTILITIES OR" and substitute "PARTICIPATING
UTILITIES,".
Page 23, line 1, strike "ADMINISTRATORS" and substitute "ADMINISTRATORS, OR
THE PROGRAM ADMINISTRATOR".
Page 32, line 23, strike "THREE PERCENT." and substitute "A RATE BASED ON
FAIR MARKET VALUE.".
Page 53, strike lines 3 through 5 and substitute:
"SECTION 8. Effective date. (1) Except as provided in subsections
(2) and (3) of this section, this act takes effect upon passage.
(2) Section 38-13-801 (2)(e), Colorado Revised Statutes, as enacted in
section 3 of this act, takes effect only if Senate Bill 25-290 does not become
law.
(3) Subsection (2) of section 7 of this act takes effect only if House Bill
25-1269 does not become law.".
Strike "UTILITY OR" and substitute "UTILITY, A UTILITY-DESIGNATED
ADMINISTRATOR, OR THE" on: Page 7, lines 3 and 4; Page 9, line 17; Page 13,
lines 15, 17, and 26; Page 14, lines 10 and 21; and Page 15, line 4.
Before "UTILITY" insert "PARTICIPATING" on: Page 8, line 14; Page 11, lines 3
and 18; and Page 15, line 15.
Before "UTILITIES" insert "PARTICIPATING" on: Page 8, line 19; Page 9, line 25;
and Page 35, line 13.
Finance