HRS §196-61 Definitions
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]