s_lg_2016a_2016-03-29t14:01:15z0 Hearing Summary

Date: 03/29/2016

02:02 PM -- SB 16-171



Senator Martinez Humenik, co-prime sponsor, discussed the provisions of Senate Bill 16-171 concerning the New Energy Improvement District (NEID). She also distributed a fact sheet on the bill prepared by the Colorado Energy Office (Attachment A). The NEID is a statewide district that operates a program to facilitate private financing of energy and water improvements to eligible real property. The bill requires treasurers of counties that have authorized the NEID program to retain a 1 percent collection fee for each NEID special assessment that it collects. The bill also requires such treasurers to distribute NEID special assessments to the NEID in the same manner, less the collection fee, as property taxes are distributed. Such counties may also revoke program authorization so long as the county meets all of its program financing obligations existing on the effective date of the deauthorization until all special assessments in the county have been paid in full to the NEID. The bill repeals the authority of the NEID to reduce the amount of any special assessment with the consent of the property owner, and clarifies that delinquent special assessment installments incur interest charges at the same rate as delinquent property taxes. Finally, the bill repeals the prohibition against a county assessor considering increases in a property's market value resulting from an energy or water improvement financed through the NEID program when valuing real property. The bill also repeals exiting authority for the NEID to initiate a civil action for foreclosure.



160329 AttachA.pdf



The following persons testified on the bill:



02:04 PM -- Paul Scharfenberger, New Energy Improvement District, spoke in support of the bill and discussed the role of the district. He also responded to questions from the committee about the bill.



02:08 PM -- Grant Nelson, International Council of Shopping Centers, National Association of Office Industrial Properties, spoke in support of the bill. He also responded to questions from the committee about the Colorado Commercial Property Assessed Clean Energy (C-PACE) program.



02:16 PM -- Melanie Layton, Colorado Bankers Association, spoke in support of the bill.



02:18 PM



The chair closed testimony and Senator Martinez Humenik closed her remarks on the bill.