HB 25-1268: Utility On-Bill Repayment Program Financing

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

The bill requires the Colorado energy office (office) to establish a state utility an on-bill repayment program to help finance certain gas and electric utilities' on-bill repayment programs (on-bill repayment program programs ), which are programs through which energy efficiency measures, electrification measures, and energy upgrades installed at utility customers' premises are financed through loans that and repaid by 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 3 interest-free loan in the amount of $100 loans totaling $50 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 January 1, 2046 . As an alternative financing mechanism for the on-bill programs, the bill authorizes the department of the treasury to offer on-bill financing tax credits (tax credits) to insurance companies authorized to do business in Colorado, which insurance companies have premium tax liability owing to the state (qualified taxpayers). The tax credits will only be offered if the relevant quarterly state revenue forecast shows that the state's nonexempt revenue will be at least $50 million under the limit on state fiscal year spending authorized under section 20 of article X of the state constitution, as modified by Referendum C. The bill creates a building decarbonization enterprise (enterprise) to: Provide financing assistance, technical assistance, and other programmatic assistance to covered building owners to effectively and efficiently implement building decarbonization measures, including energy efficiency measures, electrification measures, and energy upgrades; and Provide technical assistance and other programmatic support to utilities that accept financing from the office for the purpose of establishing or expanding an on-bill program. The enterprise is authorized to impose and collect from covered building owners an annual building decarbonization fee and impose and collect from participating utilities an annual on-bill program administration fee to cover the enterprise's costs in providing financial, technical, and programmatic assistance to covered building owners and participating utilities. (Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.) (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Sponsors

Sponsors by party (alphabetical): Democratic 7

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. May 5, 2025Senate Committee on Appropriations Postpone Indefinitely
2. April 29, 2025Senate Committee on Finance Refer Amended to Appropriations
3. April 25, 2025Introduced In Senate - Assigned to Finance
4. April 23, 2025House Third Reading Passed - No Amendments
5. April 22, 2025House Committee on Appropriations Refer Amended to House Committee of the Whole
6. April 22, 2025House Second Reading Special Order - Passed with Amendments - Committee, Floor
7. April 7, 2025House Committee on Finance Refer Amended to Appropriations
8. March 27, 2025House Committee on Finance Witness Testimony and/or Committee Discussion Only
9. March 20, 2025House Committee on Energy & Environment Refer Amended to Finance
10. February 18, 2025Introduced In House - Assigned to Energy & Environment