Definitions

HRS §196-61

in effect

196-61. Definitions As used in this part: "Assessment" means a financing assessment imposed by the authority on a benefitted commercial property pursuant to section 196-64.5. "Authority" means the Hawaii green infrastructure authority as established under section 196-63. "Bond" means any bond, note, and other evidence of indebtedness that is issued by the State pursuant to part X of chapter 269. "Clean energy investments" means the purchase, installation, or both, of clean energy technology, including energy-efficiency measures, green transportation infrastructure, recycling, and renewable energy technology. "Clean energy technology" means any technology as defined in section 269-121(b). "Commercial property" means: (1) Any existing or new non-residential real property, including any property where there is a leasehold or possessory interest in the property; (2) Any multi-family dwelling or townhouse consisting of five or more units; (3) Any condominium organized under chapter 514B consisting of six or more units; provided that individual residential condominium units shall not be considered commercial property and shall be ineligible to apply for commercial property assessed financing under this part; or (4) Agricultural property. "Commercial property assessed financing assessment" or "financing assessment" means the annual assessment, secured by a lien on a property, for the repayment of financing obtained by an owner of commercial property for a qualifying improvement that is billed and collected by the authority. "Commercial property assessed financing assessment contract" means the financing contract, under the commercial property assessed financing program, by and among one or more commercial property assessed financing lenders, one or more commercial property owners, and the authority as the administrator of the commercial property assessed financing program for the acquisition or installation of qualifying improvements. "Commercial property assessed financing lender" means a financial institution as defined pursuant to section 412:1-109, or a private or public lender approved by the authority, as the administrator of the commercial property assessed financing program, to originate commercial property assessed financing assessment contracts, and that may include any successor or assignee of the lender as provided in the commercial property assessed financing assessment contract. "Commercial property assessed financing program" means a program to finance qualifying improvements on commercial properties that are repaid through an assessment imposed by the authority on the commercial property owner's property. "Cost-effective" means that utility bill savings are achieved by the installation of an energy-efficiency measure; provided that the utility bill savings exceed the energy-efficiency measure's installation and carrying costs in an amount sufficient to repay a loan issued pursuant to section 196-62.5 and in the manner required by that section. "Department" means the department of business, economic development, and tourism, or any successor by law. "Director" means the director of business, economic development, and tourism, or the director's designee. "Electric vehicle" has the same meaning as defined in section 291-71. "Electric vehicle charging system" has the same meaning as defined in section 291-71. "Energy-efficiency measure" means any type of project conducted, or technology implemented, to reduce the consumption of energy in a public building. The types of projects conducted or technology implemented may be in a variety of forms but shall be designed to reduce electric utility costs. "Energy performance contract" has the same meaning as defined in section 36-41. "Financing order" means the same as defined in section 269-161. "Financing party" means the same as defined in section 269-161. "Green energy money saver on-bill program" means the tariff-based on-bill repayment mechanism approved for the exclusive use of the authority by the commission. "Green infrastructure bond fund" means the special fund created pursuant to section 196-67. "Green infrastructure charge" means the on-bill charges for the use and services of the loan program, including the repayment of loans made under the loan program, as authorized by the public utilities commission to be imposed on electric utility customers. "Green infrastructure costs" means costs incurred or to be incurred by the electric utility customers to pay for clean energy technology, demand response technology, and energy use reduction and demand side management infrastructure including, without limitation, the purchase or installation of green infrastructure equipment, programs, and services authorized by the loan program. "Green infrastructure equipment" means infrastructure improvements, equipment, and personal property to be installed to deploy clean energy technology, demand response technology, and energy use reduction and demand side management infrastructure. "Green infrastructure fee" means the same as defined in section 269-161. "Green infrastructure loan program" and "green infrastructure loans" means the program established by this part under section 196-62 and capitalized by the issuance of green energy market securitization bonds to finance the purchase or installation of green infrastructure equipment for clean energy technology, demand response technology, and energy use reduction and demand side management infrastructure, programs, and services as authorized by the public utilities commission using the proceeds of bonds. "Green infrastructure loan program order" means the same as defined in section 269-161. "Green infrastructure property" means the same as defined in section 269-161. "Green infrastructure special fund" means the special fund created pursuant to section 196-65. "Limited liability company" means a limited liability company formed under chapter 428. "Loan fund program" means the clean energy and energy efficiency revolving loan fund program. "Option to purchase" means a legally binding agreement between a buyer and a seller that gives the buyer the option, but not the obligation, to purchase the solar energy system or other installed equipment at an agreed upon price, prior to the maturity date of the power purchase agreement or energy performance contract. "Power purchase agreement" means a contract between two parties, one that generates electricity, or the seller, and one that seeks to purchase electricity, or the buyer, that defines all of the commercial terms for the sale of electricity between the two parties. "Property owner" or "owner" means the owner or owners of record of commercial property, except that in the case of a condominium, "owner" shall mean the condominium association and not the owner or owners of individual residential condominium units. "Qualified security" shall have the same meaning as defined in section 227D-1. "Qualifying improvement" means a septic system or aerobic treatment unit system or connection to sewer systems, clean energy technology, efficiency technology, resiliency measure, or other improvement approved by the authority. "Renewable energy" shall have the same meaning as defined in section 269-91. "Renewable energy technology" means the equipment and related accessories required to generate or produce renewable energy. "Revolving line of credit" means a type of credit in which loan advances are made for eligible purposes and where repaid principal deposited back into the sub-fund may be re-borrowed. "Special purpose entity" means a legal entity created to fulfill narrow, specific, or temporary objectives and is typically used by companies to isolate the firm from financial risk. "Subaccount" means a fund that is established within, but separate from, another fund and is reserved for a specific purpose. "Sub-fund" means a separate fund established within the Hawaii green infrastructure special fund for a specific purpose. [L 2013, c 211, pt of §2; am L 2018, c 121, §3; am L 2021, c 107, §3; am L 2022, c 183, §4; am L 2024, c 41, §3]

Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol03_Ch0121-0200D/HRS0196/HRS_0196-0061.htmFetched: 11/10/2026