1. Sections 67.2800 to 67.2840 shall be known and may be cited as the “Property Assessment Clean Energy Act”.

2. As used in sections 67.2800 to 67.2840, the following words and terms shall mean:

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(1) “Assessment contract”, a contract entered into between a clean energy development board and a property owner under which the property owner agrees to pay an annual assessment for a period of up to twenty years not to exceed the weighted average useful life of the qualified improvements in exchange for financing of an energy efficiency improvement or a renewable energy improvement;

(2) “Authority”, the state environmental improvement and energy resources authority established under section 260.010;

(3) “Bond”, any bond, note, or similar instrument issued by or on behalf of a clean energy development board;

(4) “Clean energy conduit financing”, the financing of energy efficiency improvements or renewable energy improvements for a single parcel of property or a unified development consisting of multiple adjoining parcels of property under section 67.2825;

(5) “Clean energy development board”, a board formed by one or more municipalities under section 67.2810;

(6) “Director”, the director of the division of finance within the department of commerce and insurance;

(7) “Division”, the division of finance within the department of commerce and insurance;

(8) “Energy efficiency improvement”, any acquisition, installation, or modification on or of publicly or privately owned property designed to reduce the energy consumption of such property, including but not limited to:

(a) Insulation in walls, roofs, attics, floors, foundations, and heating and cooling distribution systems;

(b) Storm windows and doors, multiglazed windows and doors, heat-absorbing or heat-reflective windows and doors, and other window and door improvements designed to reduce energy consumption;

(c) Automatic energy control systems;

(d) Heating, ventilating, or air conditioning distribution system modifications and replacements;

(e) Caulking and weatherstripping;

(f) Replacement or modification of lighting fixtures to increase energy efficiency of the lighting system without increasing the overall illumination of the building unless the increase in illumination is necessary to conform to applicable state or local building codes;

(g) Energy recovery systems; and

(h) Daylighting systems;

(9) “Municipality”, any county, city, or incorporated town or village of this state;

(10) “Program administrator”, an individual or entity selected by the clean energy development board to administer the PACE program, but this term does not include an employee of a county or municipal government assigned to a clean energy development board or a public employee employed by a clean energy development board who is paid from appropriated general tax revenues;

(11) “Project”, any energy efficiency improvement or renewable energy improvement;

(12) “Property assessed clean energy local finance fund”, a fund that may be established by the authority for the purpose of making loans to clean energy development boards to establish and maintain property assessed clean energy programs;

(13) “Property assessed clean energy program” or “PACE program”, a program established by a clean energy development board to finance energy efficiency improvements or renewable energy improvements under section 67.2820;

(14) “Renewable energy improvement”, any acquisition and installation of a fixture, product, system, device, or combination thereof on publicly or privately owned property that produces energy from renewable resources, including, but not limited to photovoltaic systems, solar thermal systems, wind systems, biomass systems, or geothermal systems.

3. All projects undertaken under sections 67.2800 to 67.2840 are subject to the applicable municipality’s ordinances and regulations, including but not limited to those ordinances and regulations concerning zoning, subdivision, building, fire safety, and historic or architectural review.