Legislation that would subject Commercial Property Assessed Clean Energy (“C-PACE”) projects to prevailing wage requirements was released from committees and is now poised to be considered by the full Senate and Assembly.
Specifically, A-4540/S-3407 would require any direct financing provided by a capital provider for a C-PACE project to be considered “authority financial assistance” and any project undertaken in connection with the assistance subject to the Prevailing Wage Act.
A-4540 was introduced on June 13 and released from both the Assembly State and Local Government and Assembly Appropriations Committees yesterday. The companion bill, S-3407, was introduced on June 10 and reported out of the Senate Budget Committee yesterday. We anticipate that the bill will be before the full Assembly and Senate in the coming days.
Contact: Lori Buckelew, Deputy Executive Director & Director of Government Affairs, lbuckelew@njlm.org, 609-695-3481, x112.