GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2009
SESSION LAW 2009-375
SENATE BILL 304
AN ACT to increase the amount the state may finance under guaranteed energy savings contracts and to modify the reporting requirements.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 142-63 reads as rewritten:
"§ 142-63. Authorization of financing contract.
Subject to the terms and conditions set forth in this
Article, a State governmental unit that has solicited a guaranteed energy
conservation measure pursuant to G.S. 143-64.17A or G.S. 143-64.17B
or the State Treasurer, as designated by the Council of State, is authorized to
execute and deliver, for and on behalf of the State of North Carolina, a
financing contract to finance the costs of the energy conservation measure. The
aggregate principal outstanding amount payable by the State under
financing contracts entered pursuant to this Article shall not exceed one
hundred million dollars ($100,000,000) five hundred million dollars
($500,000,000) at any one time."
SECTION 2. G.S. 143-64.17B(f) reads as rewritten:
"(f) In the case of a State governmental unit, a qualified provider shall, when feasible, after the acceptance of the proposal of the qualified provider by the State governmental unit, conduct an investment grade audit. During this investment grade audit, the qualified provider shall perform in accordance with Part 1 of this Article a life cycle cost analysis of each energy conservation measure in the final proposal. If the results of the audit are not within ten percent (10%) of both the guaranteed savings contained in the proposal and the total proposal amount, either the State governmental unit or the qualified provider may terminate the project without incurring any additional obligation to the other party. However, if the State governmental unit terminates the project after the audit is conducted and the results of the audit are within ten percent (10%) of both the guaranteed savings contained in the proposal and the total proposal amount, the State governmental unit shall reimburse the qualified provider the reasonable cost incurred in conducting the audit, and the results of the audit shall become the property of the State governmental unit."
SECTION 3. G.S. 143-64.17G reads as rewritten:
"§ 143-64.17G. Report on guaranteed energy savings contracts entered into by local governmental units.
A local governmental unit that enters into a guaranteed
energy savings contract must report the contract and the terms of the contract
to the Local Government Commission.Commission and the State Energy
Office of the Department of Administration. The Commission shall compile
the information and report it biennially to the Joint Commission on
Governmental Operations. In compiling the information, the Local Government
Commission shall include information on the energy savings expected to be
realized from a contract and, with the assistance of the Office of State Construction,Construction
and the State Energy Office, shall evaluate whether expected savings have
in fact been realized."
SECTION 4. This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 20th day of July, 2009.
s/ Walter H. Dalton
President of the Senate
s/ William L. Wainwright
Speaker Pro Tempore of the House of Representatives
s/ Beverly E. Perdue
Governor
Approved 12:03 p.m. this 31st day of July, 2009