§ 8-15-103. Legislative findings

The General Assembly finds that:

1. (1) It is in the best interests of the state to authorize property assessed energy improvement districts that make available to citizens one (1) or more financing programs, including without limitation a PACE program, to fund energy efficiency improvements, renewable energy projects, and water conservation improvements on residential, commercial, industrial, and other real properties at the request of the owner;

2. (2) The programs described in subdivision (1) of this section will benefit the citizens of this state by:

   1. (A) Decreasing the cost of providing funds to participating citizens and lowering the aggregate issuance and servicing costs of loans; and

   2. (B) Making funds available to rural communities throughout the state that might not otherwise create and finance the programs described in subdivision (1) of this section; and

3. (3) The programs described in subdivision (1) of this section will further the public purpose of:

   1. (A) Creating jobs and stimulating the state’s economy;

   2. (B) Generating significant economic development through the investment of the proceeds of loans in local communities, including increased sales tax revenue;

   3. (C) Protecting participating citizens from the financial impact of the rising cost of electricity produced from nonrenewable fuels;

   4. (D) Providing positive cash flow in which the costs of the improvements are lower than the energy savings on an average monthly basis;

   5. (E) Providing the citizens of this state with informed choices and additional options for financing improvements that may not otherwise be available;

   6. (F) Increasing the value of the improved real property for participating citizens;

   7. (G) Improving the state’s air quality and conserving natural resources, including water;

   8. (H) Attracting manufacturing facilities and related jobs to the state; and

   9. (I) Promoting energy independence and security for the state and the nation.