A Bill for an Act
Page 1, Line 101Concerning the financing of a utility on-bill repayment
Page 1, Line 102program for certain energy-related improvements.
Bill Summary
(Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov.)
The bill requires the Colorado energy office (office) to establish a state utility on-bill repayment program to help finance certain gas and electric utilities' on-bill repayment programs (on-bill repayment program), which are programs through which energy efficiency measures, electrification measures, and energy upgrades installed at utility customers' premises are financed through loans that the customers repay through their monthly utility bill payments. The bill requires gas or electric investor-owned utilities that serve more than 500,000 customers to propose a plan to the public utilities commission for establishing or expanding an existing on-bill repayment program for the commission to review and approve, disapprove, or modify.
The bill requires the state treasurer, on July 1, 2025, to make an interest-free loan in the amount of $100 million from the unclaimed property trust fund to the state utility on-bill repayment program cash fund, which fund is created in the bill, to support the financing of the on-bill repayment programs. The office is required to pay back the loan by July 1, 2045.
Page 2, Line 1Be it enacted by the General Assembly of the State of Colorado:
Page 2, Line 2SECTION 1. In Colorado Revised Statutes, add part 6 to article 38.5 of title 24 as follows:
Page 2, Line 3PART 6
UTILITY ON-BILL REPAYMENT PROGRAM
Page 2, Line 424-38.5-601. Legislative declaration. (1) The general
Page 2, Line 5assembly finds that Colorado consumers have the potential to
Page 2, Line 6save energy, reduce greenhouse gas emissions, and transition
Page 2, Line 7away from fossil fuel infrastructure through energy solutions,
Page 2, Line 8including energy efficiency measures, electrification measures, and energy upgrades.
Page 2, Line 9(2) Therefore, the general assembly declares that:
Page 2, Line 10(a) Utility customers would benefit from having access to
Page 2, Line 11more than one billion dollars in financing solutions over a
Page 2, Line 12five-year period for energy-related improvements, including end-of-life equipment replacement;
Page 2, Line 13(b) Utility on-bill repayment programs that allow
Page 2, Line 14repayments through utility bill payments could expand the
Page 2, Line 15opportunities for households and businesses to pursue
Page 3, Line 1energy-related upgrades by enabling utility customers to pay
Page 3, Line 2back the installation costs of energy-related upgrades and measures over time through their utility bill payments; and
Page 3, Line 3(c) A program established to provide for such on-bill
Page 3, Line 4repayment could include utility-administered repayment of
Page 3, Line 5costs for which the repayment obligation remains with the
Page 3, Line 6associated energy meter and service address, instead of transferring to a customer's new location.
Page 3, Line 724-38.5-602. Definitions.As used in this part 6, unless the context otherwise requires:
Page 3, Line 8(1) "Cooperative electric association" means a
Page 3, Line 9cooperative electric association created pursuant to article 9.5 of title 40.
Page 3, Line 10(2) "Electrification" means "beneficial electrification", as defined in section 40-1-102 (1.2).
Page 3, Line 11(3) (a) "Energy efficiency measure" means any installation, improvement, addition, or equipment that:
Page 3, Line 12(I) Helps to reduce the consumption of energy at a utility customer's premises; or
Page 3, Line 13(II) Enables a customer to reduce or shift energy consumption at the premises.
Page 3, Line 14(b) "Energy efficiency measure" includes:
Page 3, Line 15(I) A ground source or air source heat pump heating and air conditioning system;
Page 3, Line 16(II) A heat pump water heater;
Page 3, Line 17(III) A building shell measure, such as air sealing, window
Page 3, Line 18film, roof repair, insulation, or window and door modifications;
Page 4, Line 1(IV) An automatic or internet-connected energy control system; and
Page 4, Line 2(V) Any other measure authorized by the office.
Page 4, Line 3(4) "Large regulated utility" means a regulated utility with more than five hundred thousand customers in the state.
Page 4, Line 4(5) "Office" means the Colorado energy office created in section 24-38.5-101 (1).
Page 4, Line 5(6) "On-bill repayment program" means a utility's on-bill
Page 4, Line 6repayment program through which energy efficiency measures,
Page 4, Line 7electrification measures, and energy upgrades installed at a
Page 4, Line 8program participant's premises that are associated with the
Page 4, Line 9utility meter are financed through loans and are repaid through monthly utility bill payments.
Page 4, Line 10(7) "Participating utility" means a gas or electric utility that receives funding through the program.
Page 4, Line 11(8) "Program" means the state utility on-bill repayment program created in section 24-38.5-603 (1)(a).
Page 4, Line 12(9) "Program administrator" means a third-party entity
Page 4, Line 13that the office may contract with to plan, administer, operate, and manage the program.
Page 4, Line 14(10) "Program participant" means a retail utility
Page 4, Line 15customer that has requested to participate in a participating
Page 4, Line 16utility's on-bill repayment program and that the participating
Page 4, Line 17utility, either directly or through its utility-designated
Page 4, Line 18administrator, has determined is eligible for program participation.
Page 4, Line 19(11) "Regulated utility" means an investor-owned electric or gas utility.
Page 5, Line 1(12) "Unclaimed property trust fund" means the unclaimed property trust fund created in section 38-13-801.
Page 5, Line 2(13) "Utility" means an electric or gas utility and includes:
Page 5, Line 3(a) An investor-owned utility;
(b) A cooperative electric association; and
Page 5, Line 4(c) A municipally owned utility.
Page 5, Line 5(14) "Utility-designated administrator" means a
Page 5, Line 6third-party entity that a utility may contract with to plan,
Page 5, Line 7administer, operate, and manage the utility's on-bill repayment program.
Page 5, Line 824-38.5-603. State utility on-bill repayment program - creation
Page 5, Line 9- functions - process - utility programs - reporting. (1) (a) There is
Page 5, Line 10created in the office the state utility on-bill repayment
Page 5, Line 11program for the purpose of directing the allocation of money
Page 5, Line 12from the unclaimed property trust fund to provide capital for participating utilities' on-bill repayment programs.
Page 5, Line 13(b) Except as provided in section 40-2-140 (2)(a)(I), a large
Page 5, Line 14regulated utility shall participate in the program in compliance with the requirements set forth in section 40-2-140.
Page 5, Line 15(2) Pursuant to an agreement between the office and a
Page 5, Line 16participating utility or the utility-designated administrator,
Page 5, Line 17money provided to the utility to help finance the utility's on-bill
Page 5, Line 18repayment program may be used to support energy efficiency
Page 5, Line 19measures, electrification measures, or energy upgrades at a
Page 5, Line 20program participant's residential or business premises that are located in the utility's service territory.
Page 6, Line 1(3) The office, in consultation with a participating utility,
Page 6, Line 2a participating utility's utility-designated administrator, or a
Page 6, Line 3program administrator selected by the office pursuant to
Page 6, Line 4section 24-38.5-604, as appropriate, may design program requirements, including but not limited to:
Page 6, Line 5(a) A designation of which classes of utility customers may participate in the utility's on-bill repayment program;
Page 6, Line 6(b) A determination of which energy efficiency measures
Page 6, Line 7and electrification measures the utility may authorize a program participant to install;
Page 6, Line 8(c) A determination as to which measures described in
Page 6, Line 9subsection (3)(b) of this section that are authorized under the
Page 6, Line 10utility's on-bill repayment program would qualify as energy upgrades; and
Page 6, Line 11(d) A determination as to which energy-related
Page 6, Line 12improvements authorized under the utility's on-bill repayment program qualify as building shell measures.
Page 6, Line 13(4) A participating utility may recover the cost of energy
Page 6, Line 14efficiency measures and electrification measures authorized
Page 6, Line 15under the utility's on-bill repayment program, including
Page 6, Line 16installation costs, through the program participant's utility
Page 6, Line 17bill, with the repayment obligation remaining with the associated energy meter and service address.
Page 6, Line 18(5) The office may require a participating utility, a
Page 6, Line 19participating utility's utility-designated administrator, or a
Page 6, Line 20program administrator selected by the office pursuant to
Page 7, Line 1section 24-38.5-604, as appropriate, to develop, implement, and
Page 7, Line 2update consumer protection and equity requirements to ensure
Page 7, Line 3the success of the program, while balancing risk, equity,
Page 7, Line 4repayment terms, and utility bill impacts for program
Page 7, Line 5participants. The office shall consult with the participating
Page 7, Line 6utility, the participating utility's utility-designated
Page 7, Line 7administrator, or a program administrator selected by the
Page 7, Line 8office pursuant to section 24-38.5-604, as appropriate, in
Page 7, Line 9developing the consumer protection and equity requirements, which requirements shall include:
Page 7, Line 10(a) Quality installation verification, including the
Page 7, Line 11certifications and related enforcement mechanisms needed to ensure and verify quality installations;
Page 7, Line 12(b) Procedures for addressing failing equipment;
Page 7, Line 13(c) Vendor or contractor selection and approval
Page 7, Line 14processes, including labor standards and a process for enforcement of the labor standards; and
Page 7, Line 15(d) Eligibility requirements for program participants.
Page 7, Line 16(6) On or before the January 1 following the fifth
Page 7, Line 17completed year of program implementation, and on or before
Page 7, Line 18January 1 of each of the three years thereafter, a participating
Page 7, Line 19utility shall prepare and submit to the office a report that
Page 7, Line 20tracks cumulative program participation default rates, utility
Page 7, Line 21disconnections, compliance with labor standards, and other
Page 7, Line 22metrics that the office or a program administrator selected by
Page 7, Line 23the office pursuant to section 24-38.5-604 deems relevant to the
Page 7, Line 24consumer protection and equity requirements for the program.
Page 8, Line 124-38.5-604. Authority to contract with program
Page 8, Line 2administrator - selection criteria - program design requirements.
Page 8, Line 3(1) In accordance with the requirements of the "Procurement
Page 8, Line 4Code", articles 101 to 112 of this title 24, the office may
Page 8, Line 5contract with one or more independent third-party entities to
Page 8, Line 6serve as program administrators to facilitate and help
Page 8, Line 7administer utility on-bill repayments for utilities that
Page 8, Line 8participate in the program on a voluntary basis and do not have
Page 8, Line 9their own utility on-bill repayment programs or for utilities
Page 8, Line 10that have existing on-bill repayment programs and want the
Page 8, Line 11program administrator to administer their programs. A selected program administrator may only be:
Page 8, Line 12(a) A bank;
Page 8, Line 13(b) A nondepository community development financial institution;
Page 8, Line 14(c) A business development corporation; or
(d) A nonprofit organization.
Page 8, Line 15(2) In selecting a program administrator pursuant to this
Page 8, Line 16section, the office shall consider the ability of a potential
Page 8, Line 17program administrator to expand the program, including by
Page 8, Line 18expanding the capital available for use in the program through public and private capital sources.
Page 8, Line 19(3) The office, in consultation with a selected program
Page 8, Line 20administrator, may determine the design requirements for the program, including:
Page 8, Line 21(a) A requirement that a participating utility's on-bill
Page 8, Line 22repayment program provide for standardization of aspects of
Page 9, Line 1the utility's program, such as forms used to apply for
Page 9, Line 2participation in the utility's program, but otherwise allow for
Page 9, Line 3flexibility in implementing the utility's program to allow for
Page 9, Line 4different requirements based on which energy efficiency
Page 9, Line 5measures or electrification measures a participating utility deems eligible and that a program participant chooses;
Page 9, Line 6(b) A requirement that the energy efficiency measures,
Page 9, Line 7electrification measures, building shell measures, and energy
Page 9, Line 8upgrades authorized for a participating utility's on-bill repayment program comply with program requirements; and
Page 9, Line 9(c) A requirement that a program administrator develop
Page 9, Line 10other sources of public and private capital, with a goal of
Page 9, Line 11increasing available statewide funding for on-bill repayment programs to one billion dollars by 2030.
Page 9, Line 1224-38.5-605. Transfers of financial responsibility - notification
Page 9, Line 13required - property seller's obligation - utility's obligation.
Page 9, Line 14(1) Participation in a utility's on-bill repayment program is tied
Page 9, Line 15to the location of the utility meter associated with a utility
Page 9, Line 16customer's account where the energy efficiency measures,
Page 9, Line 17electrification measures, or energy upgrades are installed. If a
Page 9, Line 18customer that is a program participant moves to a new location,
Page 9, Line 19the customer's participation in the on-bill repayment program
Page 9, Line 20does not transfer to the customer's new location. For real
Page 9, Line 21property that is the site of a utility meter that is associated
Page 9, Line 22with participation in the program, the financial responsibility to
Page 9, Line 23make any remaining repayments under the on-bill repayment
Page 9, Line 24program transfers to a new owner of the real property.
Page 10, Line 1(2) Financial responsibility described in subsection (1) of
Page 10, Line 2this section applies only to the utility meter, and not to all of the real property, and shall not:
Page 10, Line 3(a) Be recorded as a lien against the real property; or
Page 10, Line 4(b) Create any encumbrance regarding the alienability of the real property other than that described in this section.
Page 10, Line 5(3) If an owner of real property at which energy
Page 10, Line 6efficiency measures, electrification measures, or energy
Page 10, Line 7upgrades have been implemented pursuant to participation in the
Page 10, Line 8program intends to sell the real property, and the full cost of
Page 10, Line 9the energy efficiency measures, electrification measures, or energy upgrades have not been fully repaid, the owner shall:
Page 10, Line 10(a) Provide a prospective purchaser of the real property
Page 10, Line 11written notice that a new owner of the real property has the
Page 10, Line 12financial obligation to make the remaining utility on-bill
Page 10, Line 13repayments under the on-bill repayment program upon
Page 10, Line 14purchasing the real property. The written notice must be
Page 10, Line 15provided before the owner accepts an offer to purchase the real property and must include:
Page 10, Line 16(I) Information that the real property is subject to utility on-bill repayments;
Page 10, Line 17(II) Contact information for a person involved in the utility's on-bill repayment program; and
Page 10, Line 18(III) Information regarding the utility on-bill repayments, including:
Page 10, Line 19(A) The total amount of the original costs for which
Page 10, Line 20utility on-bill repayments were established;
(B) The approximate remaining balance of the costs;
Page 11, Line 1(C) The on-bill repayment schedule;
Page 11, Line 2(D) The products and services providing energy efficiency
Page 11, Line 3measures, electrification measures, or energy upgrades that
Page 11, Line 4were purchased through the utility's on-bill repayment program; and
Page 11, Line 5(E) The risks associated with nonpayment of the on-bill repayments, including potential disconnection of utility service;
Page 11, Line 6(b) Notify the utility to which the owner is making on-bill
Page 11, Line 7repayments under the on-bill repayment program that the real property has been listed for sale; and
Page 11, Line 8(c) Continue making the on-bill repayments until
Page 11, Line 9ownership of the real property has officially transferred to a purchaser of the real property.
Page 11, Line 10(4) (a) Upon accepting an offer to purchase real property
Page 11, Line 11described in subsection (3) of this section, the owner of the real
Page 11, Line 12property shall notify the utility to which the owner is making on-bill repayments of:
Page 11, Line 13(I) The purchaser's name and contact information;
Page 11, Line 14(II) The name and contact information for any real estate agent representing the purchaser of the real property; and
Page 11, Line 15(III) The name and contact information for the title agent
Page 11, Line 16or company that provides closing and settlement services in relation to the real estate transaction.
Page 11, Line 17(b) The utility shall contact the purchaser or any real
Page 11, Line 18estate agent representing the purchaser and the title agent or
Page 11, Line 19company to inform the purchaser and title agent or company of
Page 12, Line 1the terms and conditions of the on-bill repayments owed to the utility under the utility's on-bill repayment program.
Page 12, Line 224-38.5-606. Voluntary participation by utilities that are not
Page 12, Line 3large regulated utilities - program administration. (1) A regulated
Page 12, Line 4utility that is not a large regulated utility or a utility that is
Page 12, Line 5not a regulated utility may seek funding through the program
Page 12, Line 6to participate in the program, establish its own on-bill
Page 12, Line 7repayment program, or support an existing on-bill repayment program.
Page 12, Line 8(2) A utility voluntarily participating in the program
Page 12, Line 9pursuant to this section may designate an administrator with written approval from the office.
Page 12, Line 10(3) If the office contracts with a program administrator
Page 12, Line 11pursuant to section 24-38.5-604, a utility that, on the effective
Page 12, Line 12date of this section, has an existing on-bill repayment program
Page 12, Line 13may seek written approval from the office to transfer the
Page 12, Line 14administration of its on-bill repayment program to the program administrator.
Page 12, Line 1524-38.5-607. State utility on-bill repayment program cash fund
Page 12, Line 16- creation. (1) The state utility on-bill repayment program cash
Page 12, Line 17fund is created in the state treasury. The fund consists of money
Page 12, Line 18credited to the fund pursuant to section 38-13-801 (3.3) and any
Page 12, Line 19other money that the general assembly may appropriate or transfer to the fund.
Page 12, Line 20(2) The state treasurer shall credit all interest and
Page 12, Line 21income derived from the deposit and investment of money in the
Page 12, Line 22state utility on-bill repayment program cash fund to the fund.
Page 13, Line 1(3) Subject to annual appropriation by the general
Page 13, Line 2assembly, the office may expend money from the fund to implement this part 6.
Page 13, Line 3SECTION 2. In Colorado Revised Statutes, add 38-35.7-113 as follows:
Page 13, Line 438-35.7-113. Disclosure - utility on-bill repayment program
Page 13, Line 5obligations - definition. (1) For any real property for which the
Page 13, Line 6owner of the property is subject to repayment obligations under
Page 13, Line 7a utility on-bill repayment program, the owner of the real
Page 13, Line 8property shall provide a prospective purchaser of the property
Page 13, Line 9written notice in compliance with section 24-38.5-605. Before
Page 13, Line 10accepting a prospective purchaser's offer to purchase the real
Page 13, Line 11property, the seller shall provide the prospective purchaser the
Page 13, Line 12written notice and obtain from the prospective purchaser a
Page 13, Line 13signed copy of the written notice acknowledging receipt of the
Page 13, Line 14notice. The prospective purchaser may sign the written notice electronically.
Page 13, Line 15(2) As used in this section, "utility on-bill repayment
Page 13, Line 16program" means "on-bill repayment program", as defined in section 24-38.5-602 (6).
Page 13, Line 17SECTION 3. In Colorado Revised Statutes, add 40-2-140 as follows:
Page 13, Line 1840-2-140. Utility on-bill repayment - large regulated utility
Page 13, Line 19plans for participation - review by commission - rules - definitions.
Page 13, Line 20(1) As used in this section, unless the context otherwise requires:
Page 13, Line 21(a) "Combined fuel customer" means a residential
Page 14, Line 1customer of a large regulated utility that takes both electric and gas service from the large regulated utility.
Page 14, Line 2(b) "Electrification" has the meaning set forth in section 24-38.5-602 (2).
Page 14, Line 3(c) "Energy efficiency measure" has the meaning set forth in section 24-38.5-602 (3).
Page 14, Line 4(d) "Large regulated utility" has the meaning set forth in section 24-38.5-602 (4).
Page 14, Line 5(e) "On-bill repayment program" has the meaning set forth in section 24-38.5-602 (6).
Page 14, Line 6(f) "State utility on-bill repayment program" means the program created in section 24-38.5-603 (1)(a).
Page 14, Line 7(2) (a) Except as provided in subsection (2)(b) of this
Page 14, Line 8section, on or before December 31, 2027, a large regulated utility shall file with the commission an application that must:
Page 14, Line 9(I) Either establish an on-bill repayment program that
Page 14, Line 10proposes to use funding through the state utility on-bill
Page 14, Line 11repayment program or modify an existing on-bill repayment
Page 14, Line 12program to use funding though the state utility on-bill
Page 14, Line 13repayment program. If a large regulated utility proposes not to
Page 14, Line 14use funding through the state utility on-bill repayment
Page 14, Line 15program, the large regulated utility's application must
Page 14, Line 16demonstrate why the utility's customers would not benefit from the utility's participation in the program.
Page 14, Line 17(II) Make the utility's on-bill repayment program
Page 14, Line 18available to electric-only customers, gas-only customers, and
Page 14, Line 19dual-fuel customers;
Page 15, Line 1(III) Describe how the large regulated utility would use
Page 15, Line 2money from the state utility on-bill repayment program to
Page 15, Line 3implement an on-bill repayment program or, if the utility has an
Page 15, Line 4approved on-bill repayment program, describe what energy
Page 15, Line 5efficiency measures and electrification measures will be
Page 15, Line 6supported with funding from the state utility on-bill repayment program;
Page 15, Line 7(IV) If the large regulated utility does not have an
Page 15, Line 8approved on-bill repayment program, describe how the utility
Page 15, Line 9will offer the on-bill repayment program to its residential customers;
Page 15, Line 10(V) Include information concerning how the utility will
Page 15, Line 11allow nonprofit organizations and homeowners' associations to
Page 15, Line 12participate in the on-bill repayment program if the commission,
Page 15, Line 13in reviewing the utility's application, determines that inclusion
Page 15, Line 14of nonprofit organizations and homeowners' associations in the on-bill repayment program:
Page 15, Line 15(A) Will not create too high a risk of default on
Page 15, Line 16repayments of loans provided through the on-bill repayment program; and
Page 15, Line 17(B) Is in the public interest;
Page 15, Line 18(VI) For a large regulated utility that provides both gas
Page 15, Line 19and electric service, indicate that the utility will allow
Page 15, Line 20combined fuel customers, electric-only customers, and gas-only customers to participate in the on-bill repayment program; and
Page 15, Line 21(VII) If the large regulated utility intends to recover its
Page 15, Line 22costs for administering the on-bill repayment program, describe
Page 16, Line 1how it intends to recover its costs. A large regulated utility
Page 16, Line 2may recover its costs in accordance with section 24-38.5-603 (4)
Page 16, Line 3but shall not recover its costs through the interest rate
Page 16, Line 4established for a loan made under the on-bill repayment program.
Page 16, Line 5(b) A large regulated utility that, on the effective date
Page 16, Line 6of this section, does not already have an existing on-bill
Page 16, Line 7repayment program that has been approved by the commission
Page 16, Line 8shall file the application described in subsection (2)(a) of this section on or before December 31, 2026.
Page 16, Line 9(3) For a gas-only customer of a large regulated utility,
Page 16, Line 10the commission, in approving the utility's application filed
Page 16, Line 11pursuant to subsection (2) of this section, shall require a
Page 16, Line 12gas-only customer participating in the on-bill repayment
Page 16, Line 13program, for the purpose of shifting space heating or water
Page 16, Line 14heating from gas to electric service, to retain, and pay service
Page 16, Line 15fees for, the customer's gas meter until the loan received under the utility's on-bill repayment program has been fully repaid.
Page 16, Line 16(4) In developing a proposed plan for which an application
Page 16, Line 17is submitted pursuant to subsection (2) of this section, a large
Page 16, Line 18regulated utility shall engage in a stakeholder process and
Page 16, Line 19invite and receive public input about the proposed plan,
Page 16, Line 20including through holding workshops in the large regulated
Page 16, Line 21utility's service territory. The large regulated utility shall
Page 16, Line 22solicit public input regarding the following aspects of the proposed plan:
Page 16, Line 23(a) Eligible energy efficiency measures, electrification
Page 17, Line 1measures, and energy upgrades under the large regulated utility's proposed plan;
Page 17, Line 2(b) Any proposed use of ratepayer money intended for the
Page 17, Line 3purposes of augmenting or expanding upon financing received through the state utility on-bill repayment program;
Page 17, Line 4(c) Any consumer protections provided in addition to the
Page 17, Line 5minimum protections required pursuant to section 24-38.5-603 (5); and
Page 17, Line 6(d) Plans for marketing the state utility on-bill
Page 17, Line 7repayment program, or the utility's own on-bill repayment
Page 17, Line 8program, as applicable, to the large regulated utility's customers.
Page 17, Line 9(5) The commission shall review and approve, disapprove,
Page 17, Line 10or approve with modifications a large regulated utility's
Page 17, Line 11application submitted pursuant to subsection (2) of this section.
Page 17, Line 12In reviewing an application, the commission shall determine if
Page 17, Line 13the large regulated utility's proposed plan for participation in
Page 17, Line 14the state utility on-bill repayment program is in the public
Page 17, Line 15interest, and, if the commission determines that the proposed
Page 17, Line 16plan is not in the public interest, the commission may modify
Page 17, Line 17specific portions of the proposed plan to bring the proposed plan into alignment with the public interest.
Page 17, Line 18(6) The commission may adopt rules to require:
Page 17, Line 19(a) Commission-regulated utilities that are not large
Page 17, Line 20regulated utilities to participate in the state utility on-bill
Page 17, Line 21repayment program or operate their own on-bill repayment
Page 17, Line 22programs; and
Page 18, Line 1(b) A large regulated utility to extend its on-bill
Page 18, Line 2repayment program to nonresidential classes of customers. In
Page 18, Line 3considering whether to require such extension, the commission shall consider:
Page 18, Line 4(I) The need for nonresidential classes of customers to participate in the utility's on-bill repayment program;
Page 18, Line 5(II) The availability of sufficient capital to finance participation by nonresidential classes of customers; and
Page 18, Line 6(III) The risk of nonrepayment of loans made through the
Page 18, Line 7utility's on-bill repayment program if loans are made to nonresidential classes of customers.
Page 18, Line 8SECTION 4. In Colorado Revised Statutes, 38-13-801, add (3.3) as follows:
Page 18, Line 938-13-801. Unclaimed property trust fund - creation -
Page 18, Line 10payments - interest - appropriations - records - rules. (3.3) (a) After
Page 18, Line 11reserving the amounts described in subsection (3)(b) of this
Page 18, Line 12section and transmitting the money necessary for the purposes
Page 18, Line 13described in subsection (3)(a) of this section, the state treasurer
Page 18, Line 14shall credit to the state utility on-bill repayment program cash
Page 18, Line 15fund created in section 24-38.5-607 an amount of principal and
Page 18, Line 16interest in the unclaimed property trust fund that is sufficient,
Page 18, Line 17as determined by the Colorado energy office pursuant to
Page 18, Line 18section 24-38.5-603 (2), to implement the state utility on-bill repayment program created in section 24-38.5-603 (1)(a).
Page 18, Line 19(b) On July 1, 2025, the state treasurer shall make an
Page 18, Line 20interest-free loan in the amount of one hundred million dollars
Page 18, Line 21from the unclaimed property trust fund to the state utility
Page 19, Line 1on-bill repayment program cash fund created in section
Page 19, Line 224-38.5-607. The Colorado energy office may use up to two percent of the loan for its administrative costs and shall:
Page 19, Line 3(I) Use the loan to support utility on-bill repayment programs, as described in section 24-38.5-603; and
Page 19, Line 4(II) Pay the loan back to the unclaimed property trust fund by July 1, 2045.
Page 19, Line 5SECTION 5. Safety clause. The general assembly finds,
Page 19, Line 6determines, and declares that this act is necessary for the immediate
Page 19, Line 7preservation of the public peace, health, or safety or for appropriations for
Page 19, Line 8the support and maintenance of the departments of the state and state institutions.