PROPERTY ASSESSED CLEAN ENERGY ACT (EXCERPT)
Act 270 of 2010
460.935 Property assessed clean energy program; establishment by local unit of government; contract with record owner of property; financing.
(1) Pursuant to the procedures provided in section 7, a local unit of government may establish a property assessed clean energy program and may, from time to time, create a district or districts under the program.
(2) Under a program, the local unit of government may enter into a contract with the record owner of property within a district to finance or refinance 1 or more energy projects on the property. The contract may provide for the repayment of the cost of an energy project through assessments upon the property benefited. The financing or refinancing may include the cost of materials and labor necessary for installation, permit fees, inspection fees, application and administrative fees, bank fees, and all other fees that may be incurred by the record owner pursuant to the installation on a specific or pro rata basis, as determined by the local unit of government.
History: 2010, Act 270, Imd. Eff. Dec. 14, 2010
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