HOUSE BILL 624
RS31389 / H0624
Commercial Property Assessed Capital Expenditure Act (CPACE) is a financing structure in which commercial building owners borrow money for certain energy and water-related projects and make repayments via an assessment on their property tax bill. The financing arrangement then remains with the property even if it is sold, facilitating long-term investments in building performance. CPACE is funded by private investors and administered by local government. Local governments, lenders, and commercial building owners must enter this program voluntarily. There is no impact on property taxpayers.
This legislation causes no additional expenditure of funds at the state or local level of government nor does it cause an increase or decrease in revenue for state or local government, therefore, the legislation has no fiscal impact.
| Date | Description |
|---|---|
| 02/22 | Introduced, read first time, referred to JRA for Printing |
| 02/23 | Reported Printed; Filed for Second Reading |
| 02/26 | Read second time; Filed for Third Reading |
| 02/27 | U.C. to hold place on third reading calendar one legislative day |
| 02/28 | Read Third Time in Full – PASSED - 48-18-4 AYES – Achilles, Allgood, Berch, Blanksma, Bundy, Burns, Cannon, Cheatum, Chew(Hansen), Clow, Cornilles, Crane(13), Dixon(1), Dixon(24), Durrant, Ehlers, Erickson, Furniss, Gannon, Garner, Handy, Healey, Hill, Holtzclaw, Horman, Lanting, Manwaring, Mathias, McCann, Mickelsen, Miller, Monks, Necochea, Nelsen, Petzke, Pickett, Raybould, Raymond, Roberts, Rubel, Sauter, Shepherd, Vander Woude, Weber, Wheeler, Wroten, Yamamoto, Mr. Speaker NAYS – Alfieri, Andrus, Barbieri, Boyle, Ehardt, Gallagher, Hawkins, Kingsley, Lambert, Mendive, Mitchell, Price, Redman, Scott, Skaug, Tanner, Wisniewski, Young Absent – Crane(12), Galaviz, Green, Palmer Floor Sponsor - Blanksma Title apvd - to Senate |
| 02/29 | Received from the House passed; filed for first reading |
| 02/29 | Introduced, read first time; referred to: Local Government & Taxation |
| 03/14 | Reported out of Committee with Do Pass Recommendation; Filed for second reading |
| 03/15 | Read second time; filed for Third Reading |
| 03/20 | Retained on calendar |
| 03/21 | Read third time in full – PASSED - 21-13-1 AYES – Adams, Anthon, Bernt, Cook, Grow, Guthrie, Hartgen, Just, Lakey, Lee, Lent, Rabe, Ricks, Ruchti, Schroeder, Semmelroth, Taylor, VanOrden, Ward-Engelking, Winder, Wintrow NAYS – Bjerke, Carlson, Den Hartog, Foreman, Harris, Hart, Herndon, Lenney, Nichols, Okuniewicz, Toews, Trakel, Zuiderveld Absent and excused – Burtenshaw Floor Sponsor - Bernt Title apvd - to House |
| 03/22 | Returned from Senate Passed; to JRA for Enrolling |
| 03/25 | Reported Enrolled; Signed by Speaker; Transmitted to Senate |
| 03/25 | Received from the House enrolled/signed by Speaker |
| 03/25 | Signed by President; returned to House |
| 03/25 | Returned Signed by the President; Ordered Transmitted to Governor |
| 03/26 | Delivered to Governor at 3:51 p.m. on March 25, 2024 |
| 04/02 | Reported Signed by Governor on March 29, 2024 Session Law Chapter Effective: |