Category: Legislation

Financing Alternatives for Commercial Clean Energy & Resiliency Improvements

Latest Update on PACE in New Jersey

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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Thursday, September 24, 2020 0

“Rain Tax” the Perfect Opportunity for PACE

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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Wednesday, March 13, 2019 0

New Jersey PACE Bill Moves Forward — Cautiously

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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Tuesday, May 29, 2018 0