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News & Press: Industry News

Comments on Proposed CA PACE Rulemaking Available

Tuesday, February 20, 2018  
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Last year California Governor Jerry Brown signed legislation creating a new licensing scheme for Property Assessed Clean Energy (PACE) program administrators. Starting January 1, 2019, the Department of Business Oversight began licensing Property Assessed Clean Energy (PACE) program administrators and regulating the PACE industry. Under the rules, a “program administrator” is defined as a person administering a PACE program on behalf of a public agency. A PACE program provides financing for the installation of energy-efficiency improvements on real property with funding repaid through property tax assessments.

In December, the DBO held a workshop with interested persons to gather information on needed regulations for the effective oversight of PACE program administrators. The DBO is in the process of drafting regulations to implement the new law and invited comments from interested parties prior to initiating a formal rulemaking action. A link to the comments can be found here.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851