Senator Brian A. Joyce recently testified on his ambitious legislation to overhaul the lagging Property Assessed Clean Energy (PACE) program to spur investment in the industrial and commercial business sectors while creating jobs at a hearing before the Joint Committee on Revenue in Springfield.
The bill will allow low-cost financing to industrial and commercial business owners to make energy savings upgrades to properties, which in turn will create short term job growth in the green energy economy and long term job growth as business owners reinvest energy savings into expanding their businesses.
The bill, S.177, will centralize the PACE program administration to take the burden off of individual municipalities, streamline the financial processes for business owners, meet the state’s pent up demand for commercial and industrial financing, allow credit enhancements to provide low interest rates, and more. Read more.