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Bill Summary Details

Property Assessed Clean Energy Programs (Support)

CS/HB 387 (Fine) and CS/SB 1208 (Rodriguez, A.) substantially amend current law provisions relating to Property Assessed Clean Energy programs. The bills define terms relevant to PACE programs including commercial and residential property. Under the bills, commercial property with qualifying improvements would be eligible for PACE programs. The bills impose various requirements on a PACE administrator to reasonably determine a property owner has an ability to pay the estimated annual PACE assessment. The bills impose obligations on a PACE administrator before it may enter a PACE contract for a residential property, such as providing a financing estimate and specified disclosures to the owner and conducting a recorded telephone call with the property owner to confirm the owner’s understanding of costs, payments, lien status and other implications associated with entering the contract. The bills authorize a residential property owner to cancel a PACE contract within three days of signing without penalty and provide the term of a contract shall not exceed the useful life of the qualifying improvement. The bills prohibit PACE financing for certain residential properties. In addition, they prohibit a PACE administrator from enrolling a PACE contractor that fails to meet specified requirements and require the administrator to make reasonable background checks prior to enrolling a new PACE contractor. They require the PACE administrator to confirm the contractor has performed the applicable work or service before disbursing funds to the contractor, and they impose specified marketing and communications guidelines on PACE administrators and contractors. (O’Hara)