Delegate Jordan Maynor (R–Raleigh, 41) has introduced House Bill 2642, a bill to help businesses in West Virginia finance improvements to their buildings that save energy, protect the environment, and make properties more resilient to disasters.
The proposal, called the Commercial Property Assessed Capital Expenditure (C-PACE) Act, would create a statewide program that lets commercial property owners take out loans for upgrades like:
-
Solar panels and other renewable energy
-
Heating and cooling improvements
-
Flood protection
-
Water-saving systems
-
Cleanup of environmental hazards
Instead of repaying the loan like a regular mortgage, the property owner would repay it through a special charge added to their property tax bill. That charge would stay with the property even if it’s sold.
How the Program Would Work
The bill gives the West Virginia Economic Development Authority the job of running the program statewide. A private company would be hired to help manage the details. Cities and counties could choose to join the program by passing a local ordinance.
Before a local government joins, it would have to hold a public hearing so residents and business owners can ask questions or raise concerns.
Once a city or county is part of the program, commercial property owners could apply for loans to cover the cost of approved upgrades. The loan would be secured by a voluntary lien—a legal claim—on the property.
Protections and Limits
The special loan would not affect the property’s assessed value and wouldn’t take priority over existing mortgages unless the mortgage lender agrees in writing. It would be treated like a tax lien if the owner falls behind on payments, and local governments could enforce it just like unpaid property taxes.
The bill is currently being reviewed by the Legislature. If passed, it could make it easier for West Virginia businesses to invest in clean energy and safety improvements without needing large upfront costs.
