Committee Passes Rendon’s Energy Retrofit Jobs Bill
Sacramento, CA – The Assembly Banking & Finance Committee voted 8-3 to pass AB 122 authored by Assembly Member Rendon and sponsored by State Controller John Chiang.
AB 122 creates a statewide financing program to encourage commercial building owners to install energy retrofits. Currently, many commercial property owners do not retrofit their buildings because projects are too expensive, it is difficult to find affordable financing, and the pay-back period for the loans takes too long to realize the cost savings of the loan.