California Financing Law: program administrators.

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, the California Financing Law (CFL) , prohibits a PACE program administrator from executing an assessment contract, commencing work under a home improvement contract that is financed by that assessment contract, or executing the home improvement contract unless certain criteria are met. The CFL prohibits a person from engaging in the business of a PACE solicitor unless that person is enrolled with a program administrator, as prescribed, and requires a program administrator to establish and maintain a training program for PACE solicitor agents that is acceptable to the Commissioner of Financial Protection and Innovation. This bill would additionally prohibit a program administrator from executing an assessment contract, commencing work under a home improvement contract that is financed by that assessment contract, or executing the home improvement contract unless, except as specified, the property that will be subject to the assessment contract has undergone an energy audit by certain parties, including an auditor or rater certified by the Building Performance Institute, that includes certain information in a written report provided to the property owner as a printed paper copy. The bill would also prohibit a program administrator from disbursing funds to a PACE solicitor or PACE solicitor agent pursuant to an assessment contract unless at least one of certain criteria is met, including that, for assessment contracts financing improvements that require permitting or inspections under state or local law, the program administrator has obtained copies of all required permits and final inspection documentation.