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2020 Arkansas Code
Title 8 - Environmental Law
Chapter 15 - Property Assessed Clean Energy Act
§ 8-15-103. Legislative findings

Universal Citation: AR Code § 8-15-103 (2020)
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The General Assembly finds that:

  1. (1) It is in the best interests of the state to authorize property assessed energy improvement districts that make available to citizens one (1) or more financing programs, including without limitation a PACE program, to fund energy efficiency improvements, renewable energy projects, and water conservation improvements on residential, commercial, industrial, and other real properties at the request of the owner;

  2. (2) The programs described in subdivision (1) of this section will benefit the citizens of this state by:

    1. (A) Decreasing the cost of providing funds to participating citizens and lowering the aggregate issuance and servicing costs of loans; and

    2. (B) Making funds available to rural communities throughout the state that might not otherwise create and finance the programs described in subdivision (1) of this section; and

  3. (3) The programs described in subdivision (1) of this section will further the public purpose of:

    1. (A) Creating jobs and stimulating the state's economy;

    2. (B) Generating significant economic development through the investment of the proceeds of loans in local communities, including increased sales tax revenue;

    3. (C) Protecting participating citizens from the financial impact of the rising cost of electricity produced from nonrenewable fuels;

    4. (D) Providing positive cash flow in which the costs of the improvements are lower than the energy savings on an average monthly basis;

    5. (E) Providing the citizens of this state with informed choices and additional options for financing improvements that may not otherwise be available;

    6. (F) Increasing the value of the improved real property for participating citizens;

    7. (G) Improving the state's air quality and conserving natural resources, including water;

    8. (H) Attracting manufacturing facilities and related jobs to the state; and

    9. (I) Promoting energy independence and security for the state and the nation.

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