State Codes and Statutes
Statutes > California > Prc > 26100-26106PUBLIC RESOURCES CODE
SECTION 26100-26106
26100. (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 home 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. 26101. Unless the context otherwise requires, the definitions in this chapter govern the construction of this division. 26102. "Applicant" means a public agency as defined in paragraph (3) of subdivision (c) of Section 5898.20 of the Streets and Highways Code. 26103. "Authority" means the California Alternative Energy and Advanced Transportation Financing Authority established pursuant to Section 26004. 26104. "Property Assessed Clean Energy bond" or "PACE bond" means a bond that is secured by a voluntary contractual assessment on property authorized pursuant to paragraph (2) of subdivision (a) of Section 5898.20 of the Streets and Highways Code or by 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. 26105. "PACE program" means a program established by an applicant that is financed by the PACE bond. 26106. This division 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 division.
