26065.
(a) The authority shall, upon an appropriation by the Legislature for the purposes of this section, award a grant, in an amount equal to at least one annual PACE assessment but not more than four annual PACE assessments, to an eligible property owner.(b) The authority shall award a grant pursuant to this section on a first-come, first-served basis.
(c) On or before July, 1 2022, the authority shall adopt regulations as necessary to implement this section.
(d) As used in this section, “eligible property owner” means a natural person who meets all of the following criteria:
(1) The person owns and occupies a property that meets both of the following criteria:
(A) The property is the person’s primary residence.
(B) The property is subject to at least one PACE assessment.
(2) The person meets either of the following criteria:
(A) The person is at least 45 days delinquent, as defined in Section 1024.31 of Title 12 of the Code of Federal Regulations, on payments due on a mortgage secured by the property and either of the following is true:
(i) An escrow or impound account has been established in connection with the mortgage to pay the PACE assessment.
(ii) The mortgage servicer has advanced funds to pay the PACE assessment.
(B) The person is delinquent, pursuant to Section 2617 or 2618 of the Revenue and Taxation Code, on a property tax installment payment that includes a PACE assessment.
(3) The person is of low or moderate income, as defined in Section 50093 of the Health and Safety Code.