Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Contract: A legal written agreement that becomes binding when signed.
Escrow: Money given to a third party to be held for payment until certain conditions are met.
municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
(1) enter into a written contract with a record owner of privately owned commercial or industrial property in a region designated under Alaska Stat. § 29.55.100 to impose an assessment to repay the financing of an energy or resilience improvement project on that property;(2) contract with the governing body of another taxing unit to perform the duties of the municipality relating to collection of assessments imposed by the municipality under this section.(b) Financing repaid by an assessment may
(1) be provided by a third party under a written contract with the municipality that authorizes the municipality to service the debt by assessment; or(2) if authorized by municipal ordinance, be provided by the municipality.(c) An assessment under this section may repay financing for costs of an energy or resilience improvement project, including
(1) the cost of materials and labor necessary for the energy or resilience improvement project;(2) permit fees;(3) inspection fees;(4) lender’s fees;(5) program application and administrative fees;(6) energy or resilience improvement project development and engineering fees;(7) third-party review fees, including verification review fees, under Alaska Stat. § 29.55.120; (8) capitalized interest;(9) interest reserves;(10)escrow for prepaid property tax or insurance;(11) capitalized extended manufacturer’s warranty or maintenance agreement costs during the period of assessment; and(12) any other fees or costs that may be incurred by the property owner incident to the installation, modification, or improvement on a specific or pro rata basis, as determined by the municipality.(d) An assessment under this section may not repay financing for the costs of
(1) [Repealed by 2022 amendment.] (2) the purchase or installation of products or devices not permanently fixed to the privately owned commercial or industrial property; or(3) a utility’s purchase or installation of a product, device, or improvement, if the product, device, or improvement will generate electricity or provide thermal energy distributed or used outside of the assessed property; in this paragraph, “utility” has the meaning given in Alaska Stat. § 42.05.990.(e) A municipality may establish more than one region. The boundaries of each region may be separate, overlapping, or coterminous.(f) A municipality may not impose a period of assessment under this section on privately owned commercial or industrial property that exceeds 30 years or the useful life of the project that is the basis for the assessment.(g) The total financing for costs of an energy or resilience improvement project may not exceed 25 percent of the market value of the property at the time of program application or completion of the proposed energy or resilience improvement project.
(h) [Repealed by 2022 amendment.] (i) An assessment under this section may repay financing for costs of a proposed energy or resilience improvement project or an energy or resilience improvement project completed within the past two years.
