SB 874 – Modifies record-keeping provisions in the Property Assessment Clean Energy (PACE) Act

• Sponsor: McKenna
• LR Number: 6046S.01I
• Committee: Commerce, Consumer Protection, Energy and the Environment
• Last Action: 3/8/2012 - Second Read and Referred S Commerce, Consumer Protection, Energy and the Environment Committee
• Journal Page: S433
• Effective Date: August 28, 2012

Current Bill Summary

SB 874 - Under the Property Assessment Clean Energy (PACE) Act in current law, a Clean Energy Development Board must provide a copy of each PACE contract to the local county assessor, county collector, and the recorder of deeds. The act removes this provision and requires the Board to provide a notice of assessment, instead of a copy of the actual contract, to these entities. The Board must retain each PACE contract in its own records until three years after the assessments in the contract have been fully paid.

ERIKA JAQUES