Property Insurance Reduction and Capital Expenditure Act of Alabama allows private financing for energy and resilience projects.

The Property Insurance Reduction and Capital Expenditure Act of Alabama allows local governments to use private financing for projects that improve energy efficiency, water efficiency, renewable energy use, flood mitigation, and resilience against natural disasters. The act enables local governments to assess and place a lien on qualifying properties to secure repayment of private financing. It prohibits the use of public funds to repay private loans and limits the liability of local governments.

Property Insurance Reduction and Capital Expenditure Act of Alabama allows private financing for energy and resilience projects.

The Property Insurance Reduction and Capital Expenditure Act of Alabama allows local governments to use private financing for projects that improve energy efficiency, water efficiency, renewable energy use, flood mitigation, and resilience against natural disasters. The act enables local governments to assess and place a lien on qualifying properties to secure repayment of private financing. It prohibits the use of public funds to repay private loans and limits the liability of local governments.