Energy savings performance contracts and the payments provided therein may be extended beyond the fiscal year in which the energy savings performance contract has been executed, subject to the appropriation of funds for expenses incurred in subsequent fiscal years. Energy savings performance contracts may be executed for a term that shall not exceed fifteen (15) years. The appropriation of funds shall be assured for the effective term of such contracts. The term allowed for the contract shall also state the useful life of the conservation measure. Energy savings performance contracts may provide for payments to be made in installments, which shall not exceed the date set forth for the final implementation of energy conservation measures.\nIf the useful life of the implemented conservation measures is less than fifteen (15) years, the term of the contract shall be factored in as the useful life of such measures, as determined by the maximum asset depreciation range (or ADR) of the Class Life Asset Depreciation Range System established by the United States Internal Revenue Service under the United States Internal Revenue Code or any comparable norms in connection with any equipment s Life Asset Depreciation Range System established by the United States Internal Revenue Service under the United States Internal Revenue Code or any comparable norms in connection with any equipment not included within asset depreciation ranges.\nThe Office of Management and Budget (OMB) shall allocate sufficient funds for each government unit to pay for public utilities, in order to comply with the purposes and spirit of this chapter.\nHistory —Jan. 17, 2012, No. 19, § 2.14.
Puerto Rico Legal Code