Bill > SB1130

This bill, known as the Nonresidential Building Energy Retrofit Financing Act of 2012, aims to facilitate private financing for clean energy improvements, renewable energy, and conservation in nonresidential buildings, thereby stimulating the economy and creating jobs. It establishes a program to provide financial assistance to owners of eligible nonresidential buildings (constructed before January 1, 2013) for energy efficiency improvements, renewable energy installations, and water efficiency improvements. This assistance is provided through a system where property owners voluntarily agree to an "energy remittance repayment agreement," which is a lien on their building, to secure repayment of the financing. The program is administered by a third-party administrator and financed through bonds issued by the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA), with a total limit of $2 billion. The bill also outlines definitions for key terms like "eligible building," "energy efficiency improvement," and "renewable energy," and details the application process, repayment schedules, and the establishment of dedicated funds for debt servicing and administration.