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2019 SESSION

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SB 1559 C-PACE loans; shoreline resiliency improvements.

Introduced by: Lynwood W. Lewis, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

C-PACE loans; resiliency improvements. Authorizes any locality, by ordinance, to authorize contracts to provide loans for the initial acquisition and installation of resiliency improvements, including improvements for the mitigation of flooding or the impacts of flooding or stormwater management improvements with a preference for natural or nature-based features and living shorelines with free and willing property owners of both existing properties and new construction. Current law authorizes such contracts only for clean energy improvements. Such ordinance shall include (i) a minimum and maximum aggregate dollar amount that may be financed with respect to a property and (ii) if a locality or other public body is originating the loan, a maximum aggregate dollar amount that may be financed with respect to loans originated by the locality or other public body.


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