(Reposted from NewJerseyPACE.org) The New Jersey C-PACE bill (A2374/S1953) was signed by Governor Murphy yesterday (Tuesday, August 24, 2021), and the Governor’s office released the following statement: Governor Phil Murphy today signed legislation (A-2374) which establishes the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program. The program will facilitate the funding of clean and…
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Under the heading, “Climate change report is more evidence Murphy should sign C-PACE bill,” Emma Horst-Martz of NJPIRG and William Amann of M&E Engineers are urging Governor Phil Murphy to sign the new C-PACE bill. The authors say the bill “would allow business owners to take out a loan for clean energy improvements – but…
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For Release Monday, June 28, 2021 Contact: Jonathan Cloud, Executive Director, 908-581-8418, jcloud@possibleplanet.org The Commercial Property Assessed Clean Energy program, already approved in 37 states and D.C., with active programs in 24 states, is headed to the Governor’s desk for signature Trenton, N.J. — On June 24 the New Jersey Legislature approved A2374/S1953 with overwhelming,…
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New Jersey C-PACE Bill Moves to the Finish Line After ten years of trying to amend its original PACE statute—which so far has proven ineffective—NJ’s C-PACE legislation (A2374/S1953) now appears to be on track for approval in both houses of the NJ Legislature today (June 24), after which it will go to the Governor’s desk…
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(Reposted from NewJerseyPACE.org) The latest version of the New Jersey C-PACE bill (S1953) was approved on June 15 by the Senate Environment and Energy Committee. The bill now goes to the Senate Budget and Appropriations Committee on June 17, where it is expected to be approved with no further changes, and then submitted to both…
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In July the NJ Assembly passed A2374 (available here) by a vote of 68 to 6. The bill, sponsored by Assemblyman Raj Mukherji (Hudson) and Assemblywoman Nancy Pinkin (Middlesex), essentially rewrites the existing (and nonfunctioning) PACE statute of 2011 (PL 2011, ch. 187) to provide the key elements needed by industry to attract the capital…
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The March 4th issue of ROI-NJ contained an Op-Ed by Jason Rittle, a partner at Einhorn Harris, titled “Why ‘rain tax’ is a bad idea for N.J. property owners.” He makes the point that the proposed stormwater utilities legislation means higher taxes for property owners with large amounts of impervious surfaces, and may require them…
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Update:The new Property Assessed Clean Energy (PACE) legislation — Senate Bill S1611— has been approved unanimously by the Senate Environment & Energy Committee, and is now moving to the Senate Appropriations Committee, which may recommend some technical changes. Based on Senator Bob Smith’s comments, the sponsors (which include Republican Senator Kip Bateman) hope to see the…
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