Article 1 - General Provisions and Definitions

California Public Resources Code — §§ 26050-26056

Sections (8)

Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.

(a)The Legislature finds and declares all of the following:

(1)Property Assessed Clean Energy (PACE) financing has been pioneered by municipalities and counties in California as a way for homeowners and small business owners to finance voluntary energy and water efficiency and clean energy improvements.

(2)PACE financing was pioneered in the City of Berkeley, while the City and County of San Francisco, City of San Diego, City of Palm Desert, Sonoma County, and the California Statewide Communities

Development Authority (CSCDA) have already initiated or are working to launch additional programs.

(3)Seventeen other states, including Colorado and New York, have also enacted enabling PACE legislation.

(4)The public subsidy provided by the PACE financing is justified by the benefits received in job creation, lower energy demand, and spurring new clean industries that will grow the economy.

(b)It is the intent of the Legislature to assist local jurisdictions in financing the installation of distributed generation renewable energy sources,

electric vehicle charging infrastructure, or energy or water efficiency improvements that are permanently fixed to real property through the use of voluntary contractual assessments.

(c)It is not the intent of the Legislature to create any debt, liability, or obligation on the part of the state in assisting local jurisdictions pursuant to this division.

§ 26050.5

Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.

The Legislature further finds and declares both of the following:

(a)Actions by federally chartered home loan entities have frustrated efforts to accelerate the implementation of the PACE financing program, creating a need to establish effective alternative approaches that can be rapidly deployed to advance the purposes of this division.

(b)Among the most promising alternatives that can be implemented rapidly are those intended to increase access to capital for projects that advance the

purposes of this division.

§ 26051

Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.

Unless the context otherwise requires, the definitions in this article govern the construction of this chapter.

§ 26052

Amended by Stats. 2014, Ch. 614, Sec. 2. (AB 2597) Effective January 1, 2015.

“Applicant” means, for the purposes of Article 2 (commencing with Section 26060), a public agency as defined in paragraph (3) of subdivision (c) of Section 5898.20 of the Streets and Highways Code, or an entity administering a PACE financing program on behalf of and with written consent of a public agency, and, for the purposes of Article 3 (commencing with Section 26070), a financial institution providing a loan pursuant to that chapter to finance the installation of distributed generation renewable energy sources, electric vehicle charging infrastructure, or energy or water efficiency improvements.

§ 26053

Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.

“Clean Energy Upgrade Program” means a statewide energy and water efficiency and renewable energy generation building retrofit financing program developed by the State Energy Resources Conservation and Development Commission and the authority pursuant to Section 26070.

§ 26054

Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.

“Property Assessed Clean Energy bond” or “PACE bond” means a bond that is secured by any of the following:

(a)A voluntary contractual assessment on property authorized pursuant to paragraph (2) of subdivision (a) of Section 5898.20 of the Streets and Highways Code.

(b)A voluntary contractual assessment or a voluntary special tax on property to finance the installation of distributed generation renewable energy sources, electric vehicle charging infrastructure, or energy or water efficiency improvements that is

levied pursuant to a chartered city’s constitutional authority under Section 5 of Article XI of the California Constitution.

(c)A special tax on property authorized pursuant to subdivision (b) of Section 53328.1 of the Government Code.

§ 26055

Amended by Stats. 2014, Ch. 614, Sec. 3. (AB 2597) Effective January 1, 2015.

“PACE program” means a program established by an applicant that is financed by the PACE bond or a PACE assessment regardless of funding sources.

§ 26056

Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.

This chapter does not create any liability or obligation upon the State of California and none shall be incurred by the authority beyond the extent to which moneys shall have been provided under this division. The authority shall not create any debt, liability, or obligation on the part of the State of California payable from any source whatsoever other than the moneys provided under this chapter.