This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Thompson & Knight Organizes Support For Water Conservation, Energy Efficiency Legislation

AUSTIN, Texas, Feb. 25, 2013 /PRNewswire/ --  Thompson & Knight LLP has organized a statewide effort to enact legislation allowing property owners in Texas to finance water conservation and energy efficiency upgrades to existing buildings with long-term loans to be repaid through local taxing districts under voluntary property assessments.

The legislation, introduced in SB 385 and HB 1094, will update a 2009 Texas statute to fully authorize municipalities and counties to use property assessments as a conservation and economic development tool. The financing program, known as Property Assessed Clean Energy (PACE), creates a secure repayment structure so that private sector lenders can make loans to pay for the improvements at reasonable interest rates.  In the last few years, PACE legislation has been adopted by 27 other states and a number of successful PACE loan programs are already underway.

SB 385 is sponsored by State Senator John Carona of Dallas, Chairman of the Senate Business and Commerce Committee. HB 1094 is sponsored by State Representative James Keffer of Granbury, Chairman of the House Energy Committee. The goal of these bills is to overcome a number of barriers to investment in energy efficiency and water conservation.

"Some time ago we recognized the deficiencies in the current law, which does not provide sufficient authorization to implement PACE financing programs," says Steve Block, a Partner in the Houston office of Thompson & Knight. "We evaluated PACE statutes enacted in other states and used the best of them to craft legislation that will facilitate viable PACE financing programs in Texas." 

As part of that effort, Thompson & Knight formed Keeping PACE in Texas, a non-profit association, to gain public awareness and business sponsorships. With the support of a full-time Executive Director and several Firm attorneys, the association has educated numerous companies, trade associations, and other organizations about the many benefits that can be derived from PACE programs.

"We're excited that SB 385 and HB 1094 have been introduced," says Jim Morriss, a Partner in Thompson & Knight's Austin office, "and we are optimistic regarding the passage of this legislation during this session. We also hope that our Firm's leadership on this issue has helped raise awareness of the fundamental importance of effective PACE programs in Texas."

More information about PACE and links to SB 385 and HB 1094 can be found at www.keepingpaceintexas.org.

CONTACT: Barry Pound, barry@androvett.com

SOURCE Thompson & Knight LLP

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,195.42 +221.11 1.30%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,566.1380 +16.9120 0.37%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs