h_tra_2016a_2016-04-20t13:32:00z1 Hearing Summary

Date: 04/20/2016

01:48 PM -- SB 16-171



The committee returned to order. Representatives Tyler and J. Becker, co-prime sponsors, came to the table to present Senate Bill 16-171. The New Energy Improvement District (NEID) is a statewide district that operates a program to facilitate private financing of energy and water improvements to eligible real property. This bill modifies statutes pertaining to the NEID as follows:



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.



01:53 PM -- Paul Scharfenberger, representing the NEID, testified in support of the bill.

01:55 PM -- Jenifer Waller, representing the Colorado Bankers Association, testified in support of the bill.

01:56 PM -- Grant Nelson, representing Republic Investment Group, testified in support of the bill.

01:58 PM -- Rebecca Cantwell, representing the Colorado Solar Electricity Industries Association, testified in support of the bill.



01:59 PM



Representatives Tyler and J. Becker made their final comments on the bill. They responded to questions on the bill.