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MICHIGAN — School districts can now use Lease Purchase Agreements as a way to finance energy efficiency upgrades, under legislation signed today by Gov. Rick Snyder.
“Michigan is on the right path toward a better and brighter energy future, and this legislation helps schools modernize and boost energy efficiency in their facilities,” Snyder said. “This is another important step forward in our work to help ensure reliable, affordable, and sustainable energy for all Michiganders.”
House Bill 4080, sponsored by state Rep. Beth Griffin, allows school districts to use Lease Purchase Agreements as a method to finance energy efficiency upgrades in their facilities. The bills let school districts enter a multi-year contract with a service provider in order to improve energy conservation. It is now Public Act 23 of 2017.
On Dec. 21, 2016, Gov. Snyder signed landmark legislation that would reform our current energy policies. This milestone for Michigan focused on reliable, affordable, and sustainable energy for all its residents and went into effect on April 20.
The Governor’s energy policy reform includes enhancing current programs to identify the cheapest, cleanest energy resource for Michigan. These new laws will ensure the state’s flexibility and adaptability as we continue to change how we produce energy, while making it easier for Michigan to develop its own energy sources and continuing to reduce our reliance on coal purchased from other states. It will also come at an affordable price for our businesses and homes and ensure environmental protections.
For more information on this and other legislation, visit www.legislature.mi.gov.