Indiana 2023 Regular Session Status: In Committee 2 R cosponsors

SB 411 — Commercial property assessed clean energy program.

Last action — Senator Garten added as second author

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Authorizes counties, cities, and towns (local units) to adopt a commercial property assessed clean energy program (PACE program) as a financing mechanism to allow commercial property owners to obtain financing for energy efficient improvements, with the repayment of the financing obligation for those improvements made from a voluntary tax assessment (special assessment) on the property. Defines an "energy efficient improvement". Requires a property owner to petition a local unit that has adopted a PACE program to impose a special assessment on the property, the proceeds of which would be transferred to the financing provider for the purchase and installation of the energy efficient improvement. Requires all owners of record of a property to sign the petition. Requires the petition to contain the written consent of each mortgage lien holder on the property stating that the lien holder does not object to the imposition of the assessment. Requires certain provisions to be included in an assessment contract. Specifies the procedures for imposing the special assessment and the priority of any tax lien. Prohibits the local unit from issuing bonds secured by tax revenue from any special assessment and further specifies that a local unit shall have no financial obligation or liability for the payment of tax revenue from a special assessment, other than to transfer the proceeds to the financing provider for the improvements.

Bill Text

We don't have the full text on file for this bill yet.

Read SB 411 on the official Indiana source →

Action History

  1. Senator Garten added as second author

  2. First reading: referred to Committee on Tax and Fiscal Policy

  3. Authored by Senator Walker G

Sponsors

Sponsorship breakdown

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2 sponsors · 0 co-sponsors · 148 not signed on

Sponsors (2)

Co-sponsors (0)

None.

Not signed on (148)

148 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

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Frequently asked questions

What does SB 411 do?
Authorizes counties, cities, and towns (local units) to adopt a commercial property assessed clean energy program (PACE program) as a financing mechanism to allow commercial property owners to obtain financing for energy efficient improvements, with the repayment of the financing obligation for those improvements made from a voluntary tax assessment (special assessment) on the property. Defines an "energy efficient improvement". Requires a property owner to petition a local unit that has adopted a PACE program to impose a special assessment on the property, the proceeds of which would be transferred to the financing provider for the purchase and installation of the energy efficient improvement. Requires all owners of record of a property to sign the petition. Requires the petition to contain the written consent of each mortgage lien holder on the property stating that the lien holder does not object to the imposition of the assessment. Requires certain provisions to be included in an assessment contract. Specifies the procedures for imposing the special assessment and the priority of any tax lien. Prohibits the local unit from issuing bonds secured by tax revenue from any special assessment and further specifies that a local unit shall have no financial obligation or liability for the payment of tax revenue from a special assessment, other than to transfer the proceeds to the financing provider for the improvements.
Who sponsors SB 411?
SB 411 is sponsored by Chris Garten (Republican) and Greg Walker (Republican).
What is the current status of SB 411?
This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 411?
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Last checked for changes 3 months ago · updated continuously

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