Section 8 Property Assessed Clean Energy Savings-to-Investment Ratio Update

          Subsection (b) of section 3 of chapter 23M of the General Laws, as appearing in the 2024 Official Edition, is hereby amended by striking out the first sentence and inserting in place thereof the following sentence:- The agency, working in conjunction with the department, shall develop program guidelines governing the terms and conditions under which financing for commercial PACE projects may be made available to the commercial sustainable energy program.

This section removes a requirement that energy cost savings over the useful life of Property Assessed Clean Energy improvements exceed the costs of the improvements.