2016 Colorado Revised Statutes
Title 24 - Government - State
Governor's Office
Article 38.7 - Colorado Clean Energy Finance Program
Part 1 - General Provisions
§ 24-38.7-102. Definitions

CO Rev Stat ยง 24-38.7-102 (2016) What's This?

As used in this part 1, unless the context otherwise requires:

(1) "Area median income" means the median income of the county in which the primary residence of a qualified borrower is located in relation to family size, as published annually by the United States department of housing and urban development.

(2) "Certified contractor" means:

(a) A contractor, including but not limited to a general, heating, air conditioning, or lighting contractor, certified by the program administrator to market the program to potential qualified borrowers and make clean energy improvements that may be financed by clean energy loans; and

(b) A manufacturer or dealer of manufactured homes, as defined in section 24-32-3302, who is certified by the program administrator to market the program to potential qualified borrowers and make clean energy improvements that may be financed by clean energy loans.

(3) "Clean energy improvement" means:

(a) Any repair of or addition or improvement to residential real property completed by or under the supervision of a certified contractor that improves the energy efficiency of the property or replaces all or a portion of the energy from nonrenewable sources used in connection with the property with energy from renewable sources; and

(b) Any installation of, or connection with, equipment that produces or conducts recycled energy or renewable energy resources, as defined in section 40-2-124, C.R.S., or solar heating and cooling systems, for use on residential or commercial real property if such installation or connection is completed by or under the supervision of a certified contractor.

(4) "Clean energy loan" means a loan in a maximum amount of twelve thousand five hundred dollars originated by a participating public lender or a participating private lender, including but not limited to a bank or mortgage lender, to a qualified borrower for the purpose of financing one or more clean energy improvements to the borrower's primary residence, rental property, or place of business; except that, if the qualified borrower is a nonprofit corporation or local government housing authority that provides units in a multi-unit housing project as homes to individuals or families who meet the income qualifications of first tier or second tier qualified borrowers, the maximum amount of a loan shall be twelve thousand five hundred dollars multiplied by the number of units in the multi-unit housing project provided to the individuals or families.

(5) "First tier qualified borrower" means a qualified borrower whose income is less than eighty percent of area median income.

(6) "Office" means the Colorado energy office.

(7) "Program" means the Colorado clean energy finance program.

(8) "Program administrator" or "administrator" means one or more entities selected by the office to:

(a) Market the program;

(b) Recruit, train, and certify contractors;

(c) Measure and verify, in accordance with standards established by the office, energy, emissions, and gross and net cost savings resulting from clean energy improvements financed by clean energy loans originated and serviced by participating public lenders and private lenders;

(d) Encourage homeowners to participate in utility demand side management programs where applicable; and

(e) Perform such other duties as may be authorized in this article or required by the office.

(9) "Program fund" means the clean energy program fund created in section 24-38.7-103 (2) (a).

(10) "Public lender" means a county, municipality, district, authority, or other political subdivision of the state authorized to make economic development, affordable housing, or housing rehabilitation loans.

(11) "Qualified borrower" means an individual or family who owns his, her, or their primary residence and satisfies lending guidelines established by the program administrator or a Colorado charitable nonprofit corporation exempt from taxation under section 501 (c) (3) of the federal "Internal Revenue Code of 1986", as amended, or county or municipal housing authority that provides homes for ownership or rental to homeowners or renters who meet the income qualifications of first tier or second tier qualified borrowers.

(12) "Second tier qualified borrower" means a qualified borrower whose income is eighty percent or more, but less than one hundred twenty percent, of area median income.

(13) "Third tier qualified borrower" means a qualified borrower whose income is one hundred twenty percent or more of area median income.

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