Allow State Agencies to Invest in Cost Saving Building Improvements

This proposal provides the vehicle for raising the necessary funding to invest in energy efficiency programs.

This proposal will:

Provide low-cost financing, by placing a $300 million general obligation bond on the 2010 statewide ballot. This funding will be used to retrofit state government and school facilities and make them more energy efficient.

These funds will be used in combination with performance contracts that repay taxpayer expenditures using energy cost savings.

Why is HB needed?

This legislation is needed primarily because the Arkansas Constitution does not allow future energy savings alone to directly pay for retrofits because current projects cannot bind future-year appropriations without a vote of the people.

Together, a strong state and school facility energy efficiency policy, plus initial bond financing, will create long lasting cost savings for Arkansas taxpayers.