A BILL TO BE ENTITLED
AN ACT to authorize all constituent institutionS of the university of north carolina to implement cost‑effective energy conservation measures for existing buildings or utility systems without entering into a guaranteed energy savings contract.
The General Assembly of North Carolina enacts:
SECTION 1.(a)  G.S. 143‑64.17L reads as rewritten:
"(a)	Authority. – Notwithstanding the provisions of this Part to the contrary, the Board of Governors of The University of North Carolina may authorize any constituent institution to implement an energy conservation measure without entering into a guaranteed energy savings contract if both of the following conditions are met:
(1)	The Board of Governors finds that the energy savings resulting from the implementation of the energy conservation measure shall, according to the energy savings analysis received pursuant to G.S. 143‑64.17M(a), equal or exceed the total cost of implementing the measure. If the proposed implementation will be financed with debt, then the energy savings analysis must project sufficient energy savings to pay the debt service on any bonds to be issued. As used in this subdivision, the term "total cost' shall have the same meaning as it does in G.S. 143‑64.17B(d).
(2)	The energy conservation measure is for an existing building or utility system.
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SECTION 1.(b)  G.S. 143‑64.17L(e) is repealed.
SECTION 2.  This act is effective when it becomes law.