DIVISION 14.5. Blue Ribbon Committee for the Rehabilitation of Clear Lake 22085-22092›CHAPTER 3. General Fund Revenue Loss 26042-26042.4›ARTICLE 2. PACE Reserve Program 26060-26064
§ 26061
California Public Resources Code · 2026-09 edition · updated 2026-09-27 · California
To qualify for assistance pursuant to this chapter, the PACE program shall require all of the following:
(a) The interest rate on the PACE bond does not exceed a percentage as determined by the authority to be appropriate.
(b) Minimum legal financing structure and credit underwriting criteria as determined by the authority are met.
(c) Proceeds of the PACE bonds are used to finance qualified energy and water efficiency, electric vehicle charging infrastructure, and clean energy improvements.
(d) The improvement financed is for a residential project of three units or fewer, or a commercial project that costs less than twenty-five thousand dollars ($25,000) in total.
(Amended by Stats. 2014, Ch. 614, Sec. 5. (AB 2597) Effective January 1, 2015.)
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