Local units of government can now use Lease Purchase Agreements as a way to finance energy efficiency upgrades, under legislation signed Thursday by Gov. Rick Snyder.
“These bills provide another avenue for local governments to modernize and boost energy efficiency in their facilities,” Snyder said.
HBs 4990-4994, sponsored by state Rep. Al Pscholka, allow local units of government to use Lease Purchase Agreements as a method to finance energy efficiency upgrades in their
facilities. The bills let local units enter a multi-year contract with a service provider in order to improve energy conservation. They are now Public Acts 119-123 of 2016.
Snyder also signed HB 5176, sponsored by state Rep. Jeff Farrington, which changes calculations for how local units of government are reimbursed for lost personal property tax revenue.
The bill also addresses the dates by which the Department of Treasury has to make certain calculations and the timing of disbursements by the Local Community Stabilization Authority. It is now PA 124.
For additional information on this and other legislation, visit www.legislature.mi.gov.
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