In an effort to follow up on the Legislatures’ commitment to electric vehicles, the Legislature sent SB 14-028 to the Governor for signature. SB 14-028 is a bill that expands the eligibility of certain entities to receive grant funds to offset (or in some cases pay for) the costs of installation of electric vehicle charging stations.
Last year, the Governor signed SB 13-126 into law which prohibited landlords and common interest communities from prohibiting the installation of Type 1 and Type 2 electric vehicle charging stations. SB 14-028, when signed, will provide a resource to assist in offsetting the costs of these stations if certain criteria are met. The Bill, when signed, will make grant money available to Common Interest Communities and other non-profit, for profit corporations and some public institutions. Grants will be based upon the following criteria:
While the grant funds are limited, the legislature did put into place the ability of the entire system to be paid for with grant money if it is especially advantageous for support of the electric vehicle market but where other revenues are not and will not foreseeably be available to defray the cost of installation.
If your association meets the above criteria, when this bill is signed, the association may want to consider seeking grant money to offset the cost of the charging stations to benefit the entire community. Furthermore, if your community is in a high volume area and there are few options to fund this type of system, a grant may offset the entire cost of the system.