Bill Number: S.B. 1465

                                                                                                             Lesko Floor Amendment

                                                                                                              Reference to: printed bill

                                                                                        Amendment drafted by: Leg Council

 

 

FLOOR AMENDMENT EXPLANATION

 

 

  1. Reduces the timeframe to rescind an agreement governing the finance, sale or lease of a distributed energy system (system) from five business days to three business days.

 

  1. Eliminates the requirement for the seller or marketer to sign a declaration under perjury of law.

 

  1. Removes the requirement to provide a detailed list of all system equipment by serial number and replaces it with a requirement to provide a general description of the system or an energy production output guarantee.

 

  1. Limits the disclosure of tax incentives to financed sales and modifies disclosure requirements relating to the transfer or modification of the system or the real property to which the system is affixed.

 

  1. Modifies the estimated utility rate range to at least plus or minus five percent and stipulates, if the seller’s or marketer’s marketing materials contain an estimate of the utility charges, the materials must comply with specified range.

 

  1. Eliminates the following disclosure requirements:

a)    specified contact information of the manufacturer, seller or marketer, installer, owner and person responsible for maintaining and warranting the system;

b)    whether the person responsible for installing, maintaining and warranting the system is certified by the North American Board of Certified Energy Practitioners;

c)    that the seller or marketer must maintain all tax credit records.

 

  1. Makes technical and conforming changes.

 

Fifty-second Legislature                                                    Lesko

First Regular Session                                                   S.B. 1465

 

LESKO FLOOR AMENDMENT

SENATE AMENDMENTS TO S.B. 1465

(Reference to printed bill)

 

Page 1, line 41, strike "records" insert “exception”

Page 2, line 3, strike "dated and"

Line 4, after "system" insert "and must be dated"

Line 10, strike "five" insert "three"

Strike lines 12 through 18

Renumber to conform

Line 19 strike “IDENTIFY THE TYPE OF” insert “provide a description, including the make and model or a guarantee concerning energy production output that the”

Line 20, after “LEASED” insert “would provide”

Strike lines 21 and 22

Renumber to conform

Line 24, after "lessee" insert "under the agreement"

Line 25, after "agreement" insert a period and strike remainder of line

Strike line 26

Line 33, after the period insert "provide a disclosure in the sale and financing agreements, to the extent they are used by the seller or marketer in determining the purchase price of the agreement,"; strike "tax subsidies that the"

Strike lines 34 through 40; insert “rebates or other state or federal incentives for which the buyer may be eligible and any conditions or requirements pursuant to the agreement to obtain these tax incentives, rebates or other incentives.”

Page 3, line 7, strike "subsidies" insert "incentives"

Lines 9 and 10, strike "of the owner, seller or manufacturer of" insert "related to"

Strike lines 12 through 30, insert:

"9.  Include a disclosure, the receipt of which shall be separately acknowledged by the buyer or lessee, if a transfer of the sale, lease or financing agreement contains any restrictions or other impact pursuant to the agreement on the lessee’s or buyer’s ability to modify or transfer ownership of a distributed energy generation system, including whether any modification or transfer is subject to review or approval by a third party. if the modification or transfer of the distributed energy generation system is subject to review or approval by a third party, the agreement must identify the name, address and telephone number of, and provide for updating any change in, the entity responsible for approving the modification or transfer.

10.  Include a disclosure, the receipt of which shall be separately acknowledged by the buyer or lessee, if a modification or transfer of ownership of the real property to which the distributed energy generation system is or will be affixed contains any restrictions or other impact pursuant to the agreement on the lessee’s or buyer’s ability to modify or transfer ownership of the real property to which the distributed energy generation system is installed or affixed, including whether any modification or transfer is subject to review or approval by a third party. if the modification or transfer of the real property to which the distributed energy generation system is affixed or installed is subject to review or approval by a third party, the agreement must identify the name, address and telephone number, and provide for updating any change in, the entity responsible for approving the modification or transfer."

Renumber to conform

Page 3, line 35, after the period insert:

"12."

Line 37, after the comma strike remainder of line insert "provide an"

Line 39, after "from" insert "at least"

Line 40, after "to" insert "at least"

Renumber to conform

Page 4, line 6, strike "and tax subsidies"

Strike lines 9 through 15

Renumber to conform

Line 19, strike "whether the"

Strike lines 20 and 21

Line 22, strike "practitioners and provide the buyer or lessee with"

Strike lines 25 through 36, insert:

"C.  If the seller's or marketer's marketing materials contain an estimate of the buyer's or lessee's estimated utility charges after the installation of a distributed energy generation system, the marketing materials must contain an estimate of the buyer's or lessee's estimated utility charges during the same period as impacted by potential utility rate changes ranging from at least a five percent annual decrease to at least a five percent annual increase from current utility costs.

D.  This section does not apply to an individual or company, acting through its officers, employees or agents, that markets, sells, solicits, negotiates or enters into an agreement for the sale, financing or lease of a distributed energy generation system as part of a transaction involving the sale or transfer of the real property to which the distributed energy generation system is or will be affixed."

Amend title to conform

 

 

 

1465dl.doc

02/25/2015

9:09 PM

C: mu

 

2/26/15

11:48 AM

S: SC/jo