Certain provisions of the act shall not apply to any assessment contract, project, or PACE program entered into, or established for any residential property.

A clean energy development board shall have the power to accept certain things of value, including the acquisition of loans or assessment contracts from other states or their municipalities and political subdivisions for the purpose or financing any project.

Certain terms of an assessment contract and any bond issued by a clean energy development board shall not exceed a period of thirty years, instead of twenty years.

Certain provisions of the act shall only apply to the residential PACE programs of clean energy development boards and participating municipalities from, instead of after, January 1, 2022, to August 28, 2024. As of August 28, 2024, all residential properties shall be exempt from certain provisions of the act and no assessment contract, project, or PACE program shall be entered into, undertaken, or established for any residential property.

Certain provisions of the act shall be effective and apply only to residential PACE assessment contracts entered into before August 28, 2024.

The act is identical to provisions in HCS#2/SS/SCS/SB 835 (2024).

JULIA SHEVELEVA