Bill Text: FL S1208 | 2021 | Regular Session | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Resiliency Energy Environment Florida (REEF) Program

Spectrum: Bipartisan Bill

Status: (Failed) 2021-04-30 - Died in Appropriations [S1208 Detail]

Download: Florida-2021-S1208-Comm_Sub.html
       Florida Senate - 2021                             CS for SB 1208
       By the Committee on Community Affairs; and Senators Rodriguez,
       Burgess, Gruters, and Polsky
       578-02664-21                                          20211208c1
    1                        A bill to be entitled                      
    2         An act relating to the property assessed clean energy
    3         program; amending s. 163.08, F.S.; revising
    4         legislative findings regarding the types of
    5         improvements that qualify for specified financing
    6         under this act; defining and redefining terms;
    7         specifying that a property owner may apply to a PACE
    8         program for certain purposes; providing that costs
    9         incurred by the PACE program may be collected as a
   10         non-ad valorem assessment; authorizing a local
   11         government to enter into agreements with PACE
   12         administrators and to incur debt; authorizing a local
   13         government to enter into a PACE assessment contract
   14         only with the record owner of the affected property;
   15         revising the items a local government or a PACE
   16         administrator must reasonably determine before
   17         entering into a PACE contract; requiring a qualifying
   18         improvement to be affixed or plan to be affixed to
   19         specified properties before final funding; authorizing
   20         a PACE assessment contract to cover qualifying
   21         improvements on real properties under new
   22         construction; revising the written disclosure
   23         statement required to be given by sellers to
   24         prospective purchaser when executing a contract for
   25         the sale and purchase of certain properties; requiring
   26         a PACE administrator to make specified determinations
   27         about a property owner’s ability to pay the annual
   28         PACE assessment; specifying information a PACE
   29         administrator must provide to the residential real
   30         property owner or an authorized representative before
   31         entering into a PACE assessment contract; specifying a
   32         timeframe within which a residential real property
   33         owner may cancel a PACE assessment contract;
   34         prohibiting the term of a PACE assessment contract
   35         from exceeding specified timeframes; prohibiting a
   36         PACE administrator from offering specified types of
   37         financing for residential real properties; prohibiting
   38         a PACE administrator from enrolling certain PACE
   39         contractors unless certain conditions are met;
   40         providing requirements that must be met before a PACE
   41         administrator may disburse funds; specifying marketing
   42         and communications guidelines that PACE administrators
   43         and PACE contractors must comply with when
   44         communicating with residential real property owners;
   45         prohibiting a PACE contractor from engaging in certain
   46         practices regarding pricing of qualifying improvement
   47         on residential real properties; providing an effective
   48         date.
   50  Be It Enacted by the Legislature of the State of Florida:
   52         Section 1. Subsections (1), (2), (4), (6) through (10),
   53  (12), (13), and (14) of section 163.08, Florida Statutes, are
   54  amended, and subsections (17) through (25) are added to that
   55  section, to read:
   56         163.08 Supplemental authority for improvements to real
   57  property.—
   58         (1)(a) In chapter 2008-227, Laws of Florida, the
   59  Legislature amended the energy goal of the state comprehensive
   60  plan to provide, in part, that the state shall reduce its energy
   61  requirements through enhanced conservation and efficiency
   62  measures in all end-use sectors and reduce atmospheric carbon
   63  dioxide by promoting an increased use of renewable energy
   64  resources. That act also declared it the public policy of the
   65  state to play a leading role in developing and instituting
   66  energy management programs that promote energy conservation,
   67  energy security, and the reduction of greenhouse gases. In
   68  addition to establishing policies to promote the use of
   69  renewable energy, the Legislature provided for a schedule of
   70  increases in energy performance of buildings subject to the
   71  Florida Energy Efficiency Code for Building Construction. In
   72  chapter 2008-191, Laws of Florida, the Legislature adopted new
   73  energy conservation and greenhouse gas reduction comprehensive
   74  planning requirements for local governments. In the 2008 general
   75  election, the voters of this state approved a constitutional
   76  amendment authorizing the Legislature, by general law, to
   77  prohibit consideration of any change or improvement made for the
   78  purpose of improving a property’s resistance to wind damage or
   79  the installation of a renewable energy source device in the
   80  determination of the assessed value of residential real
   81  property.
   82         (b) The Legislature finds that all energy-consuming
   83  improved properties that are not using energy conservation
   84  strategies contribute to the burden affecting all improved
   85  property resulting from fossil fuel energy production. Improved
   86  property that has been retrofitted with energy-related
   87  qualifying improvements receives the special benefit of
   88  alleviating the property’s burden from energy consumption. All
   89  improved properties not protected from wind or flood damage by
   90  wind or flood resistant resistance qualifying improvements
   91  contribute to the burden affecting all improved property
   92  resulting from potential wind or flood damage. Improved property
   93  that has been retrofitted with wind or flood resistant
   94  resistance qualifying improvements receives the special benefit
   95  of reducing the property’s burden from potential wind or flood
   96  damage. Further, the installation and operation of qualifying
   97  improvements not only benefit the affected properties for which
   98  the improvements are made, but also assist in fulfilling the
   99  goals of the state’s energy and hurricane mitigation policies.
  100         (c)Properties that do not use advanced technologies for
  101  wastewater removal contribute to the water quality problems
  102  affecting the state and particularly the coastal areas. Improved
  103  properties that have been retrofitted with advanced onsite
  104  treatment systems or have converted to central sewerage
  105  significantly benefit the quality of water that may enter
  106  streams, lakes, rivers, aquifers, canals, estuaries, or coastal
  107  areas. Properties that are not protected from harmful
  108  environmental health hazards contribute to the environmental
  109  health burdens affecting the state. Properties that have been
  110  improved to mitigate against or prevent environmental health
  111  hazards benefit the general environmental health of the people
  112  within this state.
  113         (d) In order to make qualifying improvements more
  114  affordable and assist property owners who wish to undertake such
  115  improvements, the Legislature finds that there is a compelling
  116  state interest in enabling property owners to voluntarily
  117  finance such improvements with local government assistance.
  118         (e)(c) The Legislature determines that the actions
  119  authorized under this section, including, but not limited to,
  120  the financing of qualifying improvements through the execution
  121  of property assessed clean energy assessment contracts financing
  122  agreements and the related imposition of voluntary assessments
  123  are reasonable and necessary to serve and achieve a compelling
  124  state interest and are necessary for the prosperity and welfare
  125  of the state and its property owners and inhabitants.
  126         (2) As used in this section, the term:
  127         (a)“Commercial real property” means, unless otherwise
  128  determined by a local government, any property not defined as a
  129  residential real property, that will be or is improved by a
  130  qualifying improvement, including, but not limited to, the
  131  following:
  132         1.A multifamily residential property comprised of five or
  133  more dwelling units.
  134         2.A commercial real property.
  135         3.An industrial building or property.
  136         4.Agricultural property.
  137         5.A residential property owned by a business entity.
  138         (b)(a) “Local government” means a county, a municipality, a
  139  dependent special district as defined in s. 189.012, or a
  140  separate legal entity created pursuant to s. 163.01(7).
  141         (c)(b)“PACE administrator” means an entity with whom a
  142  local government contracts to administer a PACE program.
  143         (d)“PACE assessment” means the non-ad valorem assessment
  144  securing the annual repayment of financing obtained by an owner
  145  of commercial or residential real property for a qualifying
  146  improvement under this chapter.
  147         (e)“PACE assessment contract” means the financing
  148  contract, under a PACE program, between a local government and a
  149  property owner for the acquisition or installation of qualifying
  150  improvements.
  151         (f)“PACE contractor” means an independent contractor who
  152  contracts with a property owner to install qualifying
  153  improvements on real property and is not the owner of such
  154  property.
  155         (g)“PACE program” means a program established by a local
  156  government, alone or in partnership with other local governments
  157  or a PACE administrator, to finance qualifying improvements on
  158  commercial or residential real properties.
  159         (h) “Qualifying improvement” includes any:
  160         1. Energy conservation and efficiency improvement, which is
  161  a measure to reduce consumption through conservation or a more
  162  efficient use of electricity, natural gas, propane, or other
  163  forms of energy on the property, including, but not limited to,
  164  air sealing; installation of insulation; installation of energy
  165  efficient heating, cooling, or ventilation systems; building
  166  modifications to increase the use of daylight; replacement of
  167  windows; installation of energy controls or energy recovery
  168  systems; installation of electric vehicle charging equipment;
  169  installation of battery storage systems; and installation of
  170  efficient lighting equipment.
  171         2. Renewable energy improvement, which is the installation
  172  of any system in which the electrical, mechanical, or thermal
  173  energy is produced from a method that uses one or more of the
  174  following fuels or energy sources: hydrogen, solar energy,
  175  geothermal energy, bioenergy, and wind energy.
  176         3. Wind, storm, and flood resistance improvement, which
  177  includes, but is not limited to:
  178         a. Improving the strength of the roof deck attachment.;
  179         b. Creating a secondary water barrier to prevent water
  180  intrusion.;
  181         c. Installing wind-resistant shingles.;
  182         d. Installing gable-end bracing.;
  183         e. Reinforcing roof-to-wall connections.;
  184         f. Installing storm shutters.; or
  185         g. Installing opening protections.
  186         h.Installing backup power or battery storage systems.
  187         4.Wastewater treatment improvement, which includes the
  188  replacement or improvement of an onsite sewage treatment and
  189  disposal system with an advanced onsite treatment and disposal
  190  system or technology or the replacement of an onsite sewage
  191  treatment and disposal system with a central sewage system. For
  192  purposes of this section, the term “wastewater treatment
  193  improvement” includes repairs or modifications made to an onsite
  194  sewage treatment and disposal system under s. 381.0065.
  195         5.Flood and water damage mitigation and resiliency
  196  improvement, which includes projects and installations:
  197         a.To raise a structure above the base flood elevation to
  198  reduce flood damage.
  199         b.To build or repair a flood diversion apparatus or sea
  200  wall improvement, which includes, but is not limited to, seawall
  201  repairs and replacements, banks, berms, green-grey
  202  infrastructure, upland stem walls, or other infrastructure that
  203  impedes tidal waters from flowing onto adjacent property or a
  204  public right-of-way.
  205         c.That use flood damage resistant building materials.
  206         d.That mitigate or eliminate the potential for microbial
  207  growth.
  208         e.That use electrical, mechanical, plumbing, or other
  209  system improvements to reduce flood damage.
  210         f.That may qualify for reductions in flood insurance
  211  premiums.
  212         6.Health and environmental hazards measure or improvement,
  213  which is a measure or an improvement intended to mitigate
  214  harmful health and environmental hazards to property occupants,
  215  including measures or improvements that mitigate or remove:
  216         a.The presence of lead, heavy metals, polyfluoroalkyl
  217  substance contamination, or other harmful contaminants in
  218  potable water systems. Improvements may include conversion of
  219  well water to municipal water systems, replacement of lead water
  220  service lines, or installation of water filters.
  221         b.Asbestos.
  222         c.Lead paint contamination in housing built before 1978.
  223         d.Indoor air pollution or contaminants, including
  224  particulate matter, viruses, bacteria, and mold.
  225         7.Water conservation or efficiency improvement, which is a
  226  measure or improvement to reduce the usage of water or increase
  227  the efficiency of water usage.
  228         (i)“Residential real property” means a residential
  229  property of four or fewer dwelling units that may be benefited
  230  by installation of a qualifying improvement.
  231         (4) Subject to local government ordinance or resolution, a
  232  property owner may apply to a PACE program the local government
  233  for funding to finance a qualifying improvement and enter into a
  234  PACE assessment contract financing agreement with the local
  235  government. Costs incurred by the PACE program local government
  236  for such purpose may be collected as a non-ad valorem
  237  assessment. A non-ad valorem assessment shall be collected
  238  pursuant to s. 197.3632 and, notwithstanding s. 197.3632(8)(a),
  239  is shall not be subject to a discount for early payment.
  240  However, the notice and adoption requirements of s. 197.3632(4)
  241  do not apply if this section is used and complied with, and the
  242  intent resolution, publication of notice, and mailed notices to
  243  the property appraiser, tax collector, and Department of Revenue
  244  required by s. 197.3632(3)(a) may be provided on or before
  245  August 15 in conjunction with any non-ad valorem assessment
  246  authorized by this section, if the property appraiser, tax
  247  collector, and local government agree.
  248         (6) A local government may enter into an agreement with a
  249  PACE administrator to administer a PACE program A qualifying
  250  improvement program may be administered by a for-profit entity
  251  or a not-for-profit organization on behalf of and at the
  252  discretion of the local government.
  253         (7) A local government may incur debt for the purpose of
  254  providing financing for the such improvements, which is payable
  255  from revenues received from the improved property, or any other
  256  available revenue source authorized by law.
  257         (8) A local government may enter into a PACE assessment
  258  contract to finance or refinance a qualifying improvement
  259  financing agreement only with the record owner of the affected
  260  property. Any PACE assessment contract financing agreement
  261  entered into pursuant to this section or a summary memorandum of
  262  such contract agreement shall be submitted for recording
  263  recorded in the public records of the county within which the
  264  property is located by the sponsoring unit of local government
  265  within 5 days after execution of the contract agreement. The
  266  recorded contract agreement shall provide constructive notice
  267  that the PACE assessment to be levied on the property
  268  constitutes a lien of equal dignity to county taxes and
  269  assessments from the date of recordation.
  270         (9) Before entering into a PACE assessment contract
  271  financing agreement, the local government or the PACE
  272  administrator local government shall reasonably determine that:
  273         (a) All property taxes and any other assessments levied on
  274  the same bill as property taxes are current and have been paid
  275  and have not been delinquent for the preceding 3 years or the
  276  property owner’s period of ownership, whichever is less;
  277         (b) That there are no involuntary liens, including, but not
  278  limited to, construction liens on the property;
  279         (c) That no notices of default or other evidence of
  280  property-based debt delinquency have been recorded and not
  281  released during the preceding 3 years or the property owner’s
  282  period of ownership, whichever is less;
  283         (d)The property owner has recorded all other PACE
  284  assessments or that the PACE assessments have been funded and
  285  not yet recorded on the property; and
  286         (e) That the property owner is current on all mortgage debt
  287  on the property.
  288         (10) Before final funding, a qualifying improvement must
  289  shall be affixed or plan to be affixed to a commercial or
  290  residential real building or facility that is part of the
  291  property and shall constitute an improvement to that property
  292  the building or facility or a fixture attached to the building
  293  or facility. A PACE assessment contract An agreement between a
  294  local government and a qualifying property owner may not cover
  295  qualifying wind-resistance improvements on commercial or
  296  residential real properties in buildings or facilities under new
  297  construction or construction for which a certificate of
  298  occupancy or similar evidence of substantial completion of new
  299  construction or improvement has not been issued.
  300         (12)(a) Without the consent of the holders or loan
  301  servicers of any mortgage encumbering or otherwise secured by
  302  the property, the total amount of any non-ad valorem assessment
  303  for a property under this section may not exceed 20 percent of
  304  the just value of the property as determined by the county
  305  property appraiser.
  306         (b) Notwithstanding paragraph (a), a PACE non-ad valorem
  307  assessment for a qualifying improvement defined in subparagraph
  308  (2)(h)1. (2)(b)1. or subparagraph (2)(h)2. (2)(b)2. that is
  309  supported by an energy audit is not subject to the limits in
  310  this subsection if the audit demonstrates that the annual energy
  311  savings from the qualified improvement equals or exceeds the
  312  annual repayment amount of the PACE non-ad valorem assessment.
  313         (13) At least 30 days before entering into a PACE
  314  assessment contract financing agreement, the property owner
  315  shall provide to the holders or loan servicers of any existing
  316  mortgages encumbering or otherwise secured by the property a
  317  notice of the owner’s intent to enter into a PACE assessment
  318  contract financing agreement together with the maximum principal
  319  amount to be financed and the maximum annual PACE assessment
  320  necessary to repay that amount. A verified copy or other proof
  321  of such notice shall be provided to the local government. A
  322  provision in any PACE assessment contract agreement between a
  323  mortgagee or other lienholder and a property owner, or otherwise
  324  now or hereafter binding upon a property owner, which allows for
  325  acceleration of payment of the mortgage, note, or lien or other
  326  unilateral modification solely as a result of entering into a
  327  PACE assessment contract financing agreement as provided for in
  328  this section is not enforceable. This subsection does not limit
  329  the authority of the holder or loan servicer to increase the
  330  required monthly escrow by an amount necessary to annually pay
  331  the annual PACE qualifying improvement assessment.
  332         (14) At or before the time a purchaser executes a contract
  333  for the sale and purchase of any property for which a PACE non
  334  ad valorem assessment has been levied under this section and has
  335  an unpaid balance due, the seller must shall give the
  336  prospective purchaser a written disclosure statement in the
  337  following form, which shall be set forth in the contract or in a
  338  separate writing:
  344         CONSERVATION.—The property being purchased is located
  345         within the jurisdiction of a local government that has
  346         placed an assessment on the property pursuant to s.
  347         163.08, Florida Statutes. The assessment is for a
  348         qualifying improvement to the property relating to
  349         energy efficiency, renewable energy, flood mitigation,
  350         or wind resistance, advanced technologies for
  351         wastewater treatment, environmental health, or water
  352         conservation, and is not based on the value of
  353         property. You are encouraged to contact the county
  354         property appraiser’s office to learn more about this
  355         and other assessments that may be provided by law.
  357         (17)Before entering into a PACE assessment contract for a
  358  qualifying improvement on a residential real property, a PACE
  359  administrator must reasonably determine that the property owner
  360  has an ability to pay the estimated annual PACE assessment
  361  based, at a minimum, on the following:
  362         (a)For property owners seeking PACE financing where the
  363  total estimated annual payment amount of all PACE assessments
  364  authorized on the property is $4,800 or less, or the equivalent
  365  of $400 per month, plus an additional amount that represents the
  366  rate of inflation established by the United States Bureau of
  367  Labor Statistics’ Consumer Price Index, the PACE administrator,
  368  at a minimum, must use the underwriting requirements in
  369  subsection (9) and confirm the property owner is not currently
  370  in bankruptcy in determining whether the property owner has a
  371  reasonable ability to pay the PACE assessment.
  372         (b)For property owners seeking PACE financing where the
  373  total estimated annual payment amount of all PACE assessments
  374  authorized on the property is greater than $4,800, or the
  375  equivalent of $400 per month, plus an additional amount that
  376  represents the rate of inflation established by the United
  377  States Bureau of Labor Statistics’ Consumer Price Index, the
  378  PACE administrator, at a minimum, must use the underwriting
  379  requirements in subsection (9), to confirm that the property
  380  owner is not in bankruptcy and determine that the total
  381  estimated annual payment amount for all the PACE assessment
  382  contracts authorized on the property does not exceed 10 percent
  383  of the property owner’s annual household income. Income may be
  384  confirmed using information gathered from reputable third
  385  parties that provide reasonably reliable evidence of the
  386  property owner’s household income. Income may not be confirmed
  387  solely from a property owner’s statement.
  388         (18)Before entering into a PACE assessment contract for a
  389  qualifying improvement on a residential real property, the PACE
  390  administrator must:
  391         (a)Provide a financing estimate and disclosure to the
  392  residential real property owner that includes:
  393         1.The total amount estimated to be funded, including the
  394  cost of the qualifying improvements, program fees, and
  395  capitalized interest, if any.
  396         2.The estimated annual PACE assessment.
  397         3.The term of the PACE assessment.
  398         4.The fixed interest charged and estimated annual
  399  percentage rate.
  400         5.A description of the qualifying improvement.
  401         6.A disclosure that if the property owner sells or
  402  refinances the property, the property owner, as a condition of
  403  the sale or the refinance, may be required by a mortgage lender
  404  to pay off the full amount owed under each PACE assessment
  405  contract.
  406         7.A disclosure that the PACE assessment will be collected
  407  along with the property owner’s property taxes and will result
  408  in a lien on the property from the date the PACE assessment
  409  contract is executed.
  410         8.A disclosure that failure to pay the PACE assessment may
  411  result in penalties and fees, along with the issuance of a tax
  412  certificate that could result in the property owner losing the
  413  real property.
  414         (b)Conduct, with a residential real property owner or an
  415  authorized representative, an oral, recorded telephone call
  416  during which time the PACE administrator must use plain
  417  language. The PACE administrator must ask the residential real
  418  property owner if he or she would like to communicate primarily
  419  in a language other than English. A PACE administrator may not
  420  leave a voicemail to the residential real property owner to
  421  satisfy this requirement. A PACE administrator, as part of this
  422  telephone call, must confirm with the residential real property
  423  owner:
  424         1.That at least one residential real property owner has
  425  access to a copy of the PACE assessment contract and financing
  426  estimates and disclosures.
  427         2.The qualifying improvement that is being financed.
  428         3.The total estimated annual costs that the residential
  429  real property owner will have to pay under the PACE assessment
  430  contract, including applicable fees.
  431         4.The total estimated average monthly equivalent amount of
  432  funds the residential real property owner would have to save in
  433  order to pay the annual costs of the PACE assessment, including
  434  applicable fees.
  435         5.The estimated date the residential real property owner’s
  436  first property tax payment that includes the PACE assessment
  437  will be due.
  438         6.The term of the PACE assessment contract.
  439         7.That payments for the PACE assessment contract will
  440  cause the residential real property owner’s annual tax bill to
  441  increase, that payments will be made through an additional
  442  annual assessment on the property, and will be paid either
  443  directly to the county tax collector’s office as part of the
  444  total annual secured property tax bill or may be paid through
  445  the residential real property owner’s mortgage escrow account.
  446         8.That the qualifying residential real property owner has
  447  disclosed whether the property has received or is seeking
  448  additional PACE assessments and has disclosed all other PACE
  449  assessments or special taxes that are or about to be placed on
  450  the property.
  451         9.That the property will be subject to a lien during the
  452  term of the PACE assessment contract and that the obligations
  453  under the contract may be required to be paid in full before the
  454  residential real property owner sells or refinances the
  455  property.
  456         10.That any potential utility or insurance savings are not
  457  guaranteed and will not reduce the PACE assessment or total
  458  assessment amount.
  459         11.That the PACE administrator or PACE contractor does not
  460  provide tax advice and that the residential real property owner
  461  should seek professional tax advice if he or she has questions
  462  regarding tax credits, tax deductibility, or other tax impacts
  463  of the qualifying improvement or the PACE assessment contract.
  464         (19)The residential real property owner may cancel the
  465  PACE assessment contract within 3 business days after signing
  466  the PACE assessment contract without any financial penalty for
  467  doing so.
  468         (20) The term of a PACE assessment contract on residential
  469  real property may not exceed the useful life of the qualifying
  470  improvement being installed or the weighted average useful life
  471  of all qualifying improvements being financed if multiple
  472  qualifying improvements are being financed. A financing term may
  473  not exceed 30 years.
  474         (21) A PACE administrator may not offer PACE assessment
  475  financing on any residential real property that includes any of
  476  the following:
  477         (a) A negative amortization schedule;
  478         (b) A balloon payment; or
  479         (c) Prepayment fees, other than nominal administrative
  480  costs.
  481         (22) For residential real property, a PACE administrator:
  482         (a) May not enroll a PACE contractor who offers PACE
  483  financing on residential real property unless:
  484         1. The PACE administrator makes a reasonable effort to
  485  review that the PACE contractor maintains in good standing an
  486  appropriate license from the state, if applicable, as well as
  487  any other permits, licenses, or registrations required for
  488  engaging in its business in the jurisdiction where it operates
  489  and maintains all state required bond and insurance coverage.
  490         2. The PACE administrator obtains the PACE contractor’s
  491  written agreement that the PACE contractor will act in
  492  accordance with all applicable laws, including applicable
  493  advertising and marketing laws and regulations.
  494         (b) Must maintain a process to enroll new PACE contractors
  495  that includes reasonable review of the following for each
  496  contractor:
  497         1. Relevant work or project history.
  498         2. Financial and reputational background checks.
  499         3. Criminal background check.
  500         4. Status on Better Business Bureau or other online
  501  platforms that track contractor reviews.
  502         (23)(a) Before disbursing funds to a PACE contractor for a
  503  qualifying improvement on residential real property, a PACE
  504  administrator must first confirm the applicable work or service
  505  has been completed, either through written certification from
  506  the property owner, a recorded telephone call with the property
  507  owner, or a site inspection through third-party means.
  508         (b) A PACE administrator may not disclose to a PACE
  509  contractor or to a third party engaged in soliciting a PACE
  510  assessment contract the maximum PACE financing amount for which
  511  a residential real property owner is eligible.
  512         (24) Each PACE administrator and PACE contractor must
  513  comply with the following marketing and communications
  514  guidelines when communicating with residential real property
  515  owners:
  516         (a) A PACE administrator or PACE contractor may not suggest
  517  or imply:
  518         1. That PACE is a government assistance program;
  519         2. That qualifying improvements are free or that PACE
  520  assessment financing is a free program; or
  521         3. That the financing of a qualifying improvement using the
  522  PACE program does not require the property owner to repay the
  523  financial obligation.
  524         (b) A PACE administrator or PACE contractor may not make
  525  any representation as to the tax deductibility of a PACE
  526  assessment on residential real property. A PACE administrator or
  527  PACE contractor may encourage a property owner to seek the
  528  advice of a tax professional regarding tax matters related to
  529  PACE assessments.
  530         (25) A PACE contractor should not present a higher price
  531  for a qualifying improvement on residential real property
  532  financed by a PACE assessment contract than the PACE contractor
  533  would otherwise reasonably present if the qualifying improvement
  534  were not being financed through a PACE assessment contract.
  535         Section 2. This act shall take effect July 1, 2021.