Bill Text: CA AB1551 | 2019-2020 | Regular Session | Introduced

California Assembly Bill 1551 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Property assessments: requirements and disclosures.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Passed) 2020-09-25 - Chaptered by Secretary of State - Chapter 156, Statutes of 2020. [AB1551 Detail]

Download: California-2019-AB1551-Introduced.html

CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill

No. 1551

Introduced by Assembly Member Arambula

February 22, 2019

An act to amend Section 22017 of the Financial Code, relating to financial institutions.

LEGISLATIVE COUNSEL'S DIGEST

AB 1551, as introduced, Arambula. Property Assessed Clean Energy program.

Existing law, commonly known as the Property Assessed Clean Energy (PACE) program, authorizes public agency officials and property owners, as provided, to enter into voluntary contractual assessments, known as PACE assessments, to finance the installation of distributed generation renewable energy sources or energy or water efficiency improvements that are permanently fixed to real property.

Existing law, the California Financing Law (CFL), requires a program administrator who administers a PACE program on behalf of, and with the written consent of, a public agency to comply with specified requirements relating to the PACE program, including requiring a program administrator to be licensed by the Commissioner of Business Oversight under the California Financing Law. The CFL requires a program administrator to establish and maintain a process for the enrollment, and for the cancellation of that enrollment, of a PACE solicitor and a PACE solicitor agent. The CFL defines the term “PACE solicitor” and “PACE solicitor agent” for these purposes.

This bill would make nonsubstantive changes to this provision.

Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO

The people of the State of California do enact as follows:

SECTION 1.

Section 22017 of the Financial Code is amended to read:

22017.

(a) “PACE solicitor” means a person authorized by a program administrator to solicit a property owner to enter into an assessment contract.

(b) “PACE solicitor agent” means an individual who is employed or retained by, and acts on behalf of, a PACE solicitor to solicit a property owner to enter into an assessment contract.

(1) A person employed by a program administrator.

(2) A person, including a home improvement contractor or subcontractor, who does not solicit property owners to enter into assessment contracts.

(3) A person who performs purely administrative or clerical tasks.

(4) A person who advertises a PACE program, if the content of the advertising is created, prepared, or approved by a program administrator, and the advertising is subject ~~to,~~ to and in compliance with this division.

(5) A person who obtains information regarding prospective applicants for PACE financing, or who provides to a program administrator information regarding prospective applicants for PACE financing, if that information was not obtained in connection with advertising or soliciting a PACE program.

(6) A person who only solicits a property owner to enter into an assessment contract with a person who is not considered a program administrator within the meaning of subdivision (b) of Section 22018.