Your Committee on Commerce, Energy, Technology, and Utilities , to which was referred House Bill 1254 , has had the same under consideration and begs leave to report the same back to the House with the recommendation that said bill be amended as follows:
contract for the purchase and installation of conservation measures
under this chapter that are part of a project that is related to the
alteration of a water or wastewater structure or system, the balance of
the payments must be paid in installments not to exceed the lesser of
fifteen (15) twenty (20) years or the average life of the conservation
measure installed from the date of final installation. Payments under an
installment payment contract are subject to annual appropriation by the
fiscal body of the school corporation or political subdivision and do not
constitute an indebtedness of the school corporation or political
subdivision within the meaning of a constitutional or statutory debt
(c) With respect to a conservation measure described in section 1(a)(2)(G) or 1(a)(2)(H) of this chapter, annual revenues or savings from a guaranteed savings contract may be less than annual payments on the contract if during the length of the contract total savings and increased billable revenues occur as provided for by the contract.
(d) The financing of a guaranteed savings contract may be provided by:
(1) the vendor under the guaranteed savings contract; or
(2) a third party financial institution or company.".
Renumber all SECTIONS consecutively.
(Reference is to HB 1254 as introduced.)
and when so amended that said bill do pass.