Bill Text: CA AB874 | 2021-2022 | Regular Session | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: PACE program: risk mitigation program.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2022-02-01 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB874 Detail]
Download: California-2021-AB874-Introduced.html
Bill Title: PACE program: risk mitigation program.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2022-02-01 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB874 Detail]
Download: California-2021-AB874-Introduced.html
CALIFORNIA LEGISLATURE—
2021–2022 REGULAR SESSION
Assembly Bill
No. 874
| Introduced by Assembly Member Quirk-Silva |
February 17, 2021 |
An act relating to the Property Assessed Clean Energy program.
LEGISLATIVE COUNSEL'S DIGEST
AB 874, as introduced, Quirk-Silva.
PACE program.
Existing law, known commonly as the Property Assessed Clean Energy (PACE) program, authorizes a public agency, by making specified findings, to authorize public agency officials and property owners to enter into voluntary contractual 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 also requires the California Alternative Energy and Advanced Transportation Financing Authority to establish a PACE Reserve program to assist local jurisdictions in financing, among other things, the installation of distributed generation renewable energy sources or energy or water efficiency improvements on residential projects.
This bill would express the intent of the Legislature to enact legislation that would relate to
expanding access to the PACE Reserve program, in response to the recession and housing crisis driven by the COVID-19 pandemic, to allow homeowners to avoid foreclosure.
