Sec. 12. (a) An improvement that is not causally connected to a conservation measure may be included in a guaranteed savings contract if:
(1) the total value of the improvement does not exceed fifteen percent (15%) of the total value of the guaranteed savings contract; and
(2) either:
(A) the improvement is necessary to conform to a law, a rule, or an ordinance; or
(B) an analysis within the guaranteed savings contract demonstrates that:
(i) there is an economic advantage to the political subdivision in implementing an improvement as part of the guaranteed savings contract; and
(ii) the savings justification for the improvement is documented by industry engineering standards.
(b) The information required under subsection (a) must be reported to the director of the department of local government finance.
As added by P.L.98-2002, SEC.9. Amended by P.L.1-2006, SEC.557; P.L.168-2006, SEC.20; P.L.109-2015, SEC.58; P.L.233-2015, SEC.332.