Bill Text: CA SB1224 | 2019-2020 | Regular Session | Introduced
Bill Title: Property Assessed Clean Energy program.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2020-03-05 - Referred to Com. on RLS. [SB1224 Detail]
Download: California-2019-SB1224-Introduced.html
CALIFORNIA LEGISLATURE—
2019–2020 REGULAR SESSION
Senate Bill
No. 1224
Introduced by Senator Dahle |
February 20, 2020 |
An act to amend Section 22686 of the Financial Code, relating to financial institutions.
LEGISLATIVE COUNSEL'S DIGEST
SB 1224, as introduced, Dahle.
Property Assessed Clean Energy 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. The law prohibits a program administrator, as defined, from executing an assessment contract or commencing work under or executing a home improvement contract that is financed by that assessment contract, unless the program administrator makes a reasonable good faith determination that the property owner has a reasonable ability to pay the annual payment obligations for the PACE assessment.
This bill would make nonsubstantive changes to those
provisions.