SB 721 - This act modifies provisions relating to guaranteed energy cost savings contracts. Under current law, a governmental unit is required to award a contract to a qualified provider if, among other things, it finds that the amount it would spend on the energy cost savings measures recommended in the proposal would not exceed the amount of energy or operational savings, or both, within a 15 year period from the date installation is complete, if the recommendations in the proposal are followed. This act extends the time frame to a 20 year period. The act requires that any guaranteed energy cost savings contract shall include a scope of work describing the specific energy cost savings measures that are to be addressed by the proposal as well as information regarding any energy or operational audit performed by the agency in connection with the energy cost savings measure to be addressed by the proposal, and if no energy audit information is provided, then a requirement that the proposer will provide such energy or operational cost audit. The act requires, rather than permits, a guaranteed energy savings contract to provide for payments over a period of time, not to exceed twenty years, or the expected life of any equipment or systems. This act is substantially similar to HB 2419 (2020) and SB 126 (2019). SCOTT SVAGERA