PACE – Improvements to Real Property (Watch)

PACE – Improvements to Real Property (Watch)

SB 1858 (Passidomo) and HB 1225 (Jacobs) make numerous modifications to the Property Assessed Clean Energy (PACE) Program. The bills revise the definition of “qualified improvements” to include the products and installation of wind resistance improvements and remove the current requirement that the improvements are the installation. The bills also contain many consumer protections. For example, each local government that offers a qualifying improvements program must develop a written disclosure form that contains the key terms of the agreement that must be provided to the residential property owner before he or she executes the financing agreement. (Hughes)