A bill to authorize public housing agencies to use assistance from the Capital Fund for energy performance contracts.

Bill 118 s 4966, also known as the "Public Housing Energy Efficiency Act," is a piece of legislation that aims to allow public housing agencies to utilize funds from the Capital Fund for energy performance contracts. This bill would enable public housing agencies to enter into agreements with energy service companies to improve the energy efficiency of their buildings.

The Capital Fund is a federal program that provides funding to public housing agencies for the development, financing, and modernization of public housing properties. By allowing these agencies to use Capital Fund assistance for energy performance contracts, they would be able to make much-needed upgrades to their buildings that would result in cost savings and environmental benefits.

Energy performance contracts involve a third-party energy service company making improvements to a building's energy systems, such as installing energy-efficient lighting, heating, and cooling systems. The cost of these improvements is paid for by the energy savings generated over time. This allows public housing agencies to make upgrades without upfront costs, as the energy service company assumes the financial risk. Overall, Bill 118 s 4966 aims to help public housing agencies reduce their energy costs, improve the quality of their buildings, and contribute to environmental sustainability. By allowing them to use Capital Fund assistance for energy performance contracts, this legislation provides a practical and cost-effective way for public housing agencies to make much-needed energy efficiency improvements.