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SB 100 - Multi-County Local Improvement Districts - Colorado Key Vote

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NOTE: THE LEGISLATURE PROVIDES ITS MEMBERS WITH THE OPPORTUNITY TO BOTH VOTE ON WHETHER TO CONCUR WITH THE OPPOSING CHAMBER'S AMENDMENTS AND, IF THE CONCURRENCE VOTE SUCCEEDS, VOTE TO REPASS THE BILL AFTER THE AMENDMENTS ARE INCORPORATED. THIS IS A VOTE ON REPASSAGE OF THE BILL AFTER THE MEMBERS CONCURRED WITH THE OPPOSING CHAMBER'S AMENDMENTS.

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Title: Multi-County Local Improvement Districts

Vote Smart's Synopsis:

Vote to pass a bill that authorizes multiple counties to jointly establish local improvement districts (LIDs), in which bonds can be used to provide loans to businesses and homeowners for energy efficiency and renewable energy projects, whereas existing law required that each county create its own separate district.

Highlights:

-Authorizes boards of county commissioners to finance projects that benefit "qualified community locations" as well as residential or commercial buildings, whereas existing law limits financing to residential and commercial buildings only (Sec. 1).

-Defines "qualified community locations" as locations that (Secs. 1 & 7):
        -Are owned, wholly or in part, by the same owners of the residential or commercial buildings that directly benefit from the project;
        -Provide energy that is credited on the owner's utility bill; and
        -Are an "encumbrance" on the properties that benefit from the project.

-Prohibits boards of county commissioners from authorizing projects that would interfere with the rights of public utilities certified by the Public Utilities Commission, and authorizes the Public Utilities Commission to determine whether or not proposed projects would interfere with those rights (Secs. 1 & 7).

-Authorizes boards of county commissioners to create intergovernmental agreements regarding the financing of projects in local improvement districts, including the use of (Sec. 5):
        -Assessment payments;
        -Penalty payments; and
        -Property sale proceeds.

-Exempts the county treasurer from countersigning bonds issued by local improvement districts, whereas existing law required this signature (Sec. 5).

-Exempts local improvements districts from forced dissolution after projects have been completed, whereas existing law requires that all districts dissolve following project completion and debt payment (Sec. 6).

Full Bill Text

Title: Multi-County Local Improvement Districts

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