The Purpose of the Bill
This bill requires that all commercial property owners disclose information about the energy consumption within their property as accurately as possible with the information that is available to them. This is to assist brokers and investors when making purchases and transitions of assets and in terms of determining the real value of that asset. This information is also required to be provided to any lessee of the property, as well as any lender that will help finance the property.
Detailed information on how to comply in this data verification checklist
Exempt building types:
• Factory and Industrial (F-1, F-2)
• High Hazard (H-1, H-2, H-3, H-4, H-5)
• Institutional (I-3, I-4)
• Residential (R-2, R-2.1, R-3, R-3.1, R-4)
• Laboratory (L)
Although factories are exempt, a note should be taken that industrial buildings such as warehouses or other storage areas are not exempt from this bill. Any buildings that are partially occupied by an exempt facility or unit renders the entire facility exempt from this bill. Multifamily properties, although commercial, have residential units and are therefore exempt from the bill. Transient properties such as hotels and resorts are not exempt however.