reglab/statecodes huggingface dataset:
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 3 - Bonds and Notes › Section 26023.

26023. In the discretion of the authority, any bonds issued under the provisions of this division may be secured by a trust agreement by and between the authority and a corporate trustee or trustees, which may be the State Treasurer or any trust company or bank having the powers of a trust company within or without the state. Such trust agreement or the resolution providing for the issuance of such bonds may pledge or assign the revenues to be received or proceeds of any contract or contracts pledged and may convey or mortgage the project or projects, or any portion thereof, to be financed out of the proceeds of such bonds. Such trust agreement or resolution providing for the issuance of such bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders or any credit provider as may be reasonable and proper and not in violation of law, including particularly such provisions as have hereinabove been specifically authorized to be included in any resolution or resolutions of the authority authorizing bonds thereof. Any bank or trust company doing business under the laws of this state which may act as depositary of the proceeds of bonds or of revenues or other moneys may furnish such indemnifying bonds or pledge such securities as may be required by the authority. Any such trust agreement may set forth the rights and remedies of the bondholders and of the trustee or trustees, and may restrict the individual right of action by bondholders or any credit provider. In addition to the foregoing, any such trust agreement or resolution may contain such other provisions as the authority may deem reasonable and proper for the security of the bondholders or any credit provider. Notwithstanding any other provision of law, the State Treasurer shall not be deemed to have a conflict of interest by reason of acting as trustee pursuant to this division. All expenses incurred in carrying out the provisions of such trust agreement or resolution may be treated as a part of the cost of the operation of a project.
(Amended by Stats. 2012, Ch. 677, Sec. 24. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 3 - Bonds and Notes › Section 26024.

26024. Bonds issued under the provisions of this division shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof, other than the authority, or a pledge of the faith and credit of the state or of any such political subdivision, other than the authority, but shall be payable solely from the funds herein provided therefor. All such bonds shall contain on the face thereof a statement to the following effect:
“Neither the faith and credit nor the taxing power of the State of California or any local agency is pledged to the payment of the principal of or interest on this bond.”
The issuance of bonds under the provisions of this division shall not directly or indirectly or contingently obligate the state or any political subdivision thereof to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment. Nothing contained in this section shall prevent nor be construed to prevent the authority from pledging its full faith and credit to the payment of bonds or issue of bonds authorized pursuant to this division.
(Amended by Stats. 2012, Ch. 677, Sec. 25. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 3 - Bonds and Notes › Section 26025.

26025. (a) The authority is hereby authorized to provide for the issuance of bonds of the authority for the purpose of refunding, directly or indirectly, any bonds, notes, or other evidence of indebtedness of the authority or any public agency then outstanding, including the payment of any redemption premium thereon and any interest accrued or to accrue to the earliest or subsequent date of redemption, purchase, or maturity of such bonds, and, if deemed advisable by the authority, for the additional purpose of paying all or any part of the cost of constructing and acquiring additions, improvements, extensions, or enlargements of a project or any portion thereof.
(b) The proceeds of any such bonds issued for the purpose of refunding outstanding bonds, notes, or other securities may, in the discretion of the authority, be applied to the purchase or retirement at maturity or redemption of such outstanding bonds either on their earliest or any subsequent redemption date or upon the purchase or retirement at the maturity thereof and may, pending such application, be placed in escrow to be applied to such purchase or retirement at maturity or redemption on such date as may be determined by the authority.
(c) Pending such use, any such escrowed proceeds may be invested and reinvested by the State Treasurer or any trustee in instruments as may be specified in the resolution or indenture governing the bonds to be refunded, maturing at such time or times as shall be appropriate to ensure the prompt payment, as to principal, interest, and redemption premium, if any, of the outstanding bonds to be so refunded. The interest, income, and profits, if any, earned or realized on any such investment may also be applied to the payment of the outstanding bonds to be so refunded. After the terms of the escrow have been fully satisfied and carried out, any balance of such proceeds and interest, income, and profits, if any, earned or realized on the investments thereof may be returned to the authority for use by it in any lawful manner.
(d) All such bonds shall be subject to the provisions of this division in the same manner and to the same extent as other bonds issued pursuant to this division. Prior to refunding bonds or evidence of indebtedness not originally issued by the authority, the authority shall make findings that the project being refinanced qualifies as a project as defined in subparagraph (A) of paragraph (8) of subdivision (a) of Section 26003 until June 30, 2016, and as of July 1, 2016, as defined in subparagraph (A) of paragraph (7) of subdivision (a) of Section 26003.
(Amended by Stats. 2012, Ch. 677, Sec. 26. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 3.5 - Supplemental Bond Provisions › Section 26029.

26029. The authority shall not be required to pay any property taxes or assessments upon, or in respect to, a project or any property acquired by or for the authority under the provisions of this division or upon the income therefrom, so long as the authority holds title to such project or the property or facilities comprised in the project. The exemption of the authority from taxation of any project herein provided shall cease forthwith when title to such property is transferred from the authority to any participating party. The provisions of this section shall not exempt any participating party from taxation including, but not limited to, taxation upon a possessory interest, with respect to any project, or the property or facilities comprised in any project, which may otherwise be applicable to such participating party.
(Added by Stats. 1980, Ch. 908, Sec. 1.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 3.5 - Supplemental Bond Provisions › Section 26029.4.

26029.4. Subject to Section 26029.6, the existence of the authority may be terminated at any time by the Legislature. Upon dissolution of the authority, the title to all properties owned by it shall, subject to the interests of any participating parties therein, vest in and become the property of the State of California and shall not inure to the benefit of any private party.
(Added by Stats. 1980, Ch. 908, Sec. 1.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 3.5 - Supplemental Bond Provisions › Section 26029.5.

26029.5. This division shall be deemed to provide a complete, additional, and alternative method for the doing of the things authorized thereby, and shall be regarded as supplemental and additional to powers conferred by other laws, except that the issuance of bonds and refunding bonds under the provisions of this division need not comply with the requirements of any other law applicable to the issuance of bonds, and provided that, in the construction and acquisition of a project pursuant hereto, the authority need not comply with the requirements of any other law applicable to the construction or acquisition of public works except as specifically provided in this division.
(Added by Stats. 1980, Ch. 908, Sec. 1.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 3.5 - Supplemental Bond Provisions › Section 26029.6.

26029.6. The State of California does hereby pledge to and agree with the holders of any obligations issued under this division, and with those parties who may enter into contracts with the authority pursuant to the provisions of this division, that the state will not limit or alter the rights hereby vested in the authority until such obligations, together with the interest thereon, are fully met and discharged and such contracts are fully performed on the part of the authority; provided, however, nothing herein contained shall preclude such limitation or alteration if and when adequate provision shall be made by law for the protection of the holders of such obligations of the authority or those entering into such contracts with the authority. The authority as agent for the state is authorized to include this pledge and undertaking for the state in such obligations or contracts.
(Added by Stats. 1980, Ch. 908, Sec. 1.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 3.5 - Supplemental Bond Provisions › Section 26029.8.

26029.8. The powers granted to the authority by this division may be exercised without regard or reference to any department or agency of the state. All other general or special laws, or parts thereof, inconsistent with this division are hereby declared to be inapplicable to the provisions of this division. Nothing contained in this division shall be interpreted to exempt the construction or acquisition of any project by any participating party from compliance with all applicable local, state, or federal laws and regulations.
(Added by Stats. 1980, Ch. 908, Sec. 1.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 4 - Construction and Leases of Facilities › Section 26030.

26030. The authority may contract with any participating party for the construction or acquisition of a project by such participating party. All such contracts for the construction or acquisition of a project by a participating party shall provide that the participating party shall be responsible for the architectural and engineering design and for the construction and completion thereof, subject to such standards for architectural and engineering design as may be established, and subject to such supervision as the authority deems necessary. The authority may agree to pay the cost of such project constructed or acquired by any participating party and to advance such costs from time to time in installments or otherwise as required by the contract for the construction or acquisition thereof. Title to all such projects may be vested in the authority subject to the terms of any lease thereof to the participating party or the rights of a participating party under any contract for the purchase or acquisition of such project including the payment of the purchase price under installment sales contracts.
(Amended by Stats. 2012, Ch. 677, Sec. 29. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 4 - Construction and Leases of Facilities › Section 26032.

26032. The authority may enter into contracts of sale with any participating party covering any project financed by the authority. The purchase price pursuant to the contract of sale shall be treated in substantially the same manner and shall be at least sufficient to provide funds for all the purposes provided in Section 26031 and may be paid in installments, together with interest on the unpaid balance, or otherwise, as may be mutually agreed and set forth in the contract of sale. All payments received by the authority under any installment sales or conditional sales contract shall be applied by the authority substantially in the same manner as provided in Section 26031 in the case of lease payments or rental charges received by the authority.
(Amended by Stats. 2006, Ch. 538, Sec. 581. Effective January 1, 2007.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 4 - Construction and Leases of Facilities › Section 26032.5.

26032.5. As an alternative to leasing or selling a project to a participating party, the authority may finance the acquisition, construction, or installation of a project by means of a loan to the participating party. The principal amount of the participating party’s obligation as borrower shall be sufficient to provide funds for all the purposes specified in subdivisions (a), (b), and (c) of Section 26031 and may be paid in installments, together with interest on the unpaid balance, or otherwise as may be mutually agreed by the authority and the participating party and set forth in the loan agreement. Loans made pursuant to this section may be secured or unsecured in the discretion of the authority.
The provisions of Section 26030 shall not be applicable to projects constructed with moneys loaned pursuant to this section.
(Added by Stats. 1980, Ch. 908, Sec. 1.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 4 - Construction and Leases of Facilities › Section 26033.

26033. All moneys received pursuant to the provisions of this division, whether as proceeds from the sale of bonds, notes, or other evidences of indebtedness or as revenues, or as fees received by the authority, shall be deemed to be trust funds to be held and applied solely as provided in this division. Any bank or trust company with which such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as the resolution authorizing the bonds of any issue or the trust agreements securing such bonds may provide.
(Amended by Stats. 2012, Ch. 677, Sec. 30. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 4 - Construction and Leases of Facilities › Section 26034.

26034. Any holder of bonds, notes, or other obligations issued under the provisions of this division, and the trustee or trustees under any trust agreement, except to the extent the rights herein given may be restricted by any resolution authorizing the issuance of, or any such trust agreement securing, such bonds, notes, or other obligations, may, either at law or in equity, by suit, action, mandamus, or other proceedings, protect and enforce any and all rights under the laws of the state or granted hereunder or under such resolution or trust agreements, and may enforce and compel the performance of all duties required by this division or by such resolution or trust agreement to be performed by the authority or by any officer, employee, or agent thereof, including the fixing, charging, and collecting of the rates, rents, fees, and charges herein authorized and required by the provisions of such resolution or trust agreement to be fixed, established, and collected.
(Amended by Stats. 2012, Ch. 677, Sec. 31. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 4 - Construction and Leases of Facilities › Section 26035.

26035. The exercise of the powers granted by this division shall be in all respects for the benefit of the people of this state, for their health and welfare, and protection of the state’s environment. Any bonds, notes, or other obligations issued under the provisions of this division, their transfer and the income therefrom, shall at all times be free from taxation of every kind by the state and by municipalities and other political subdivisions of the state.
(Amended by Stats. 2012, Ch. 677, Sec. 32. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 4 - Construction and Leases of Facilities › Section 26036.

26036. If the jurisdiction of the authority to order a proposed act is not affected, an omission of any officer or the authority in the proceedings under this division or any other defect in the proceedings shall not invalidate the proceedings for issuance of bonds pursuant to this division.
(Added by Stats. 1980, Ch. 908, Sec. 1.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 1 - California Alternative Energy and Advanced Transportation Financing Authority › ARTICLE 4 - Construction and Leases of Facilities › Section 26037.

26037. An action may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure to determine the validity of any issuance or proposed issuance of bonds under this division and the legality and validity of all proceedings previously taken or proposed in a resolution of the authority to be taken for the authorization, issuance, sale and delivery of the bonds and for the payment of the principal thereof and interest thereon.
(Added by Stats. 1980, Ch. 908, Sec. 1.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 2 - Additional Powers and Duties › Section 26040.

26040. (a) The authority may receive and utilize grants or loans from the federal government, a public agency, or any other source for carrying out the purposes of this division.
(b) The authority may make a commitment to finance a project by a qualified participating party who requests financing from the authority prior to the participating party’s efforts to secure federal matching funds available to promote the development of alternative sources of energy and advanced transportation technologies.
(Amended by Stats. 1994, Ch. 1218, Sec. 11. Effective January 1, 1995.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 3 - General Fund Revenue Loss › Section 26042.

26042. It is the intent of the Legislature that any loss of revenue to the General Fund occasioned by the purchase of bonds issued by the authority shall be restored to the General Fund from revenues, moneys, and remittances received by the State Lands Commission and allocated pursuant to Section 6217.
(Added by Stats. 1980, Ch. 908, Sec. 1.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 3 - General Fund Revenue Loss › Section 26042.2.

26042.2. On May 10, 1982, and on each May 10 thereafter, the authority shall make a determination of an amount equal to one-half of 1 percent of the total of all outstanding bonds issued pursuant to the provisions of Article 3 (commencing with Section 26020) of Chapter 1 as of May 1 of such year. The amount determined shall be deemed the General Fund revenue loss for the year. The authority shall inform the Controller of the determination made under this section.
(Added by Stats. 1980, Ch. 908, Sec. 1.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 3 - General Fund Revenue Loss › Section 26042.4.

26042.4. On May 15, 1982, and on each May 15 thereafter, the Controller shall transfer to the General Fund the amount determined by the authority pursuant to Section 26042.2 from the Energy and Resources Fund.
This section shall become operative only if Assembly Bill No. 2973 of the 1979–80 Regular Session is chaptered and creates the Energy and Resources Fund.
(Added by Stats. 1980, Ch. 908, Sec. 1 (1st text).)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 1 - General Provisions and Definitions › Section 26050.

26050. (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 homeowners 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.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 1 - General Provisions and Definitions › Section 26050.5.

26050.5. The Legislature further finds and declares both of the following:
(a) Actions by federally chartered home loan entities have frustrated efforts to accelerate the implementation of the PACE financing program, creating a need to establish effective alternative approaches that can be rapidly deployed to advance the purposes of this division.
(b) Among the most promising alternatives that can be implemented rapidly are those intended to increase access to capital for projects that advance the purposes of this division.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 1 - General Provisions and Definitions › Section 26051.

26051. Unless the context otherwise requires, the definitions in this article govern the construction of this chapter.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 1 - General Provisions and Definitions › Section 26052.

26052. “Applicant” means, for the purposes of Article 2 (commencing with Section 26060), a public agency as defined in paragraph (3) of subdivision (c) of Section 5898.20 of the Streets and Highways Code, or an entity administering a PACE financing program on behalf of and with written consent of a public agency, and, for the purposes of Article 3 (commencing with Section 26070), a financial institution providing a loan pursuant to that chapter to finance the installation of distributed generation renewable energy sources, electric vehicle charging infrastructure, or energy or water efficiency improvements.
(Amended by Stats. 2014, Ch. 614, Sec. 2. (AB 2597) Effective January 1, 2015.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 1 - General Provisions and Definitions › Section 26053.

26053. “Clean Energy Upgrade Program” means a statewide energy and water efficiency and renewable energy generation building retrofit financing program developed by the State Energy Resources Conservation and Development Commission and the authority pursuant to Section 26070.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 1 - General Provisions and Definitions › Section 26054.

26054. “Property Assessed Clean Energy bond” or “PACE bond” means a bond that is secured by any of the following:
(a) A voluntary contractual assessment on property authorized pursuant to paragraph (2) of subdivision (a) of Section 5898.20 of the Streets and Highways Code.
(b) 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.
(c) A special tax on property authorized pursuant to subdivision (b) of Section 53328.1 of the Government Code.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 1 - General Provisions and Definitions › Section 26055.

26055. “PACE program” means a program established by an applicant that is financed by the PACE bond or a PACE assessment regardless of funding sources.
(Amended by Stats. 2014, Ch. 614, Sec. 3. (AB 2597) Effective January 1, 2015.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 1 - General Provisions and Definitions › Section 26056.

26056. This chapter 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 chapter.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 2 - PACE Reserve Program › Section 26060.

26060. (a) The authority shall develop and administer a PACE Reserve program to reduce overall costs to the property owners of PACE bonds issued by an applicant by providing a reserve of no more than 10 percent of the initial principal amount of the PACE bond.
(b) The authority shall develop and administer a PACE risk mitigation program for PACE financing to increase its acceptance in the marketplace and protect against the risk of default and foreclosure.
(Amended by Stats. 2014, Ch. 614, Sec. 4. (AB 2597) Effective January 1, 2015.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 2 - PACE Reserve Program › Section 26061.

26061. 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.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 2 - PACE Reserve Program › Section 26062.

26062. An applicant shall submit to the authority an application providing a detailed description of the PACE program, a detailed description of the transactional activities associated with the PACE bond issuance, including all transactional costs, information regarding any credit enhancement or insurance associated with the PACE program, and other information deemed necessary by the authority.
(Amended by Stats. 2014, Ch. 614, Sec. 6. (AB 2597) Effective January 1, 2015.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 2 - PACE Reserve Program › Section 26063.

26063. (a) In evaluating eligibility, the authority shall consider whether the applicant’s PACE program includes the following conditions:
(1) Financing recipients are legal owners of underlying property.
(2) Financing recipients are current on mortgage and property tax payments.
(3) Financing recipients are not in default or in bankruptcy proceedings.
(4) Financing is for less than 15 percent of the value of the property, up to the first seven hundred thousand dollars ($700,000) of the value of the property, and is for less than 10 percent of the remaining value of the property above seven hundred thousand dollars ($700,000).
(5) The property is within the geographical boundaries of the PACE program.
(6) The program offers financing for energy or water efficiency improvements, electric vehicle charging infrastructure, or clean energy improvements.
(7) Improvements financed by the program follow applicable standards of energy efficiency retrofit work, including any guidelines adopted by the State Energy Resources Conservation and Development Commission.
(8) The total mortgage-related debt and PACE financing on the underlying property does not exceed the value of the property.
(b) In evaluating an application, the authority shall consider all of the following factors:
(1) The use by the PACE program of best practices, adopted by the authority, to qualify eligible properties for participation in underwriting the PACE program.
(2) The cost efficiency of the applicant’s PACE program, including bond issuance, credit enhancement, or insurance.
(3) The projected number of jobs created by the PACE program.
(4) The applicant’s PACE program requirements for quality assurance and consumer protection as related to achieving efficiency and clean energy production.
(5) The mechanisms by which savings produced by this program are passed on to the property owners.
(6) Any other factors deemed appropriate by the authority.
(Amended by Stats. 2014, Ch. 614, Sec. 7. (AB 2597) Effective January 1, 2015.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 2 - PACE Reserve Program › Section 26064.

26064. The authority shall review the applicant’s PACE bond issuance, including, but not limited to, indenture, trust agreement, and fiscal agent agreement (“the bond documents”) and, when the authority is satisfied that the bond documents are consistent with the requirements of the PACE Reserve program established pursuant to this chapter, the authority shall advance to the applicant or the applicant’s bond trustee, at the closing of the applicant’s PACE bonds, the amount made available from the Renewable Resource Trust Fund and approved by the authority for use in the PACE bond’s reserve fund under the bond documents. Prior to the disbursement of moneys pursuant to this section into a reserve fund, the authority shall enter into an agreement with the applicant regarding the creation and operation of the reserve fund, including the manner in which the authority will be repaid for any moneys disbursed to the reserve fund.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 3 - Clean Energy Upgrade Program › Section 26070.

26070. The authority shall administer a Clean Energy Upgrade Program to reduce overall costs to the property owners of a loan provided by an applicant to finance 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 by providing a reserve or other financial assistance at a level to be determined by the State Energy Resources Conservation and Development Commission and the authority. Improvements financed pursuant to this program shall be 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.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 3 - Clean Energy Upgrade Program › Section 26071.

26071. (a) The authority shall adopt regulations governing the implementation of this chapter, including quality assurance pursuant to subdivision (b) of Section 26072, at a publicly noticed meeting. Notwithstanding any other law, regulations adopted pursuant to this section may be adopted as emergency regulations pursuant to Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code.
(b) For the purposes of Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code, including Section 11349.6 of that code, the Office of Administrative Law shall consider the adoption of the regulations pursuant to subdivision (a) to be necessary for the immediate preservation of the public peace, health and safety, and general welfare.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 3 - Clean Energy Upgrade Program › Section 26072.

26072. (a) An applicant shall submit to the authority an application providing a detailed description of the loan program to finance the installation of distributed generation renewable energy sources, electric vehicle charging infrastructure, or energy or water efficiency improvements on real property, a detailed description of the transactional activities associated with the loan issuance, including all transactional costs, and other information deemed necessary by the authority.
(b) The authority shall ensure that all improvements financed by the program meet quality assurance standards developed by the authority in consultation with the State Energy Resources Conservation and Development Commission. The standards shall include contractor certification and third-party inspection of an appropriate portion of completed projects to ensure project performance and consumer protection.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 3 - Clean Energy Upgrade Program › Section 26073.

26073. (a) In evaluating eligibility, the authority shall consider whether the applicant’s loan program includes the following conditions:
(1) Loan recipients are legal owners of underlying property.
(2) Loan recipients are current on mortgage and property tax payments.
(3) Loan recipients are not in default or in bankruptcy proceedings.
(4) Loans are for less than 10 percent of the value of the property.
(5) The program offers financing for energy and water efficiency improvements.
(6) Improvements financed by the program follow applicable standards of energy efficiency retrofit work, including any guidelines adopted by the State Energy Resources Conservation and Development Commission.
(b) In evaluating an application, the authority shall consider all of the following factors:
(1) The use by the loan program of best practices, adopted by the authority, to qualify eligible properties for participation in underwriting the loan program.
(2) The cost efficiency of the applicant’s loan program.
(3) The projected number of jobs created by the loan program.
(4) The applicant’s loan program requirements for quality assurance and consumer protection, as related to achieving efficiency and clean energy production, in accordance with the standards developed pursuant to subdivision (b) of Section 26072.
(5) The mechanisms by which savings produced by this program are passed on to the property owners.
(6) Any other factors deemed appropriate by the authority.
(c) The authority may approve a loan program that offers financing for electric vehicle charging infrastructure if the electric vehicle charging infrastructure is part of a project to install energy efficiency improvements and distributed generation renewable energy resources and is designed so that the project does not increase peak energy demand.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 3 - Clean Energy Upgrade Program › Section 26074.

26074. (a) The authority shall require certification from a loan applicant that each loan offered pursuant to the applicant’s loan program is consistent with the requirements of the Clean Energy Upgrade Program administered pursuant to this chapter.
(b) If the conditions of subdivision (a) are satisfied, the authority shall allocate to the applicant, at the closing of the loan, the amount made available from the Renewable Resource Trust Fund in the form of financial assistance as approved by the State Energy Resources Conservation and Development Commission and the authority. Prior to providing financial assistance pursuant to this section, the authority shall enter into an agreement with the applicant regarding the financial assistance, including the process for the possible return of moneys disbursed to or on behalf of the applicant.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 4 - Appropriation and Reporting › Section 26080.

26080. (a) Until January 1, 2015, an amount of up to fifty million dollars ($50,000,000) from the Renewable Resource Trust Fund, established pursuant to Section 25751, is hereby appropriated to the authority for the purposes of this chapter. The moneys appropriated shall remain in the Renewable Resource Trust Fund until the funds are needed by the authority pursuant to this chapter.
(b) Of the moneys appropriated in subdivision (a), up to five hundred fifty thousand dollars ($550,000) may be expended by the authority for the initial administrative costs in implementing this chapter.
(c) All repayments of moneys disbursed pursuant to this chapter shall be deposited into the Renewable Resource Trust Fund.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16 - CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT › CHAPTER 4 - Property Assessed Clean Energy (PACE) and Clean Energy Financing Program › ARTICLE 4 - Appropriation and Reporting › Section 26082.

26082. (a) Notwithstanding Section 26080, twenty-five million dollars ($25,000,000) of the unencumbered balance of the fifty million dollars ($50,000,000) that was appropriated to the authority pursuant to Section 26080 and is in the Renewable Resource Trust Fund is hereby appropriated to the Energy Conservation Assistance Account established pursuant to Section 25416.
(b) Notwithstanding Section 25421, any unexpended funds appropriated pursuant to subdivision (a) remaining in the Energy Conservation Assistance Account on and after January 1, 2013, except to the extent those funds are encumbered pursuant to Section 25417.5, shall revert to the Renewable Resource Trust Fund and be available to the authority for the purposes of this chapter.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)
2023 California Code › Public Resources Code - PRC › DIVISION 16.3 - CLEAN ENERGY JOB CREATION › CHAPTER 1 - General Provisions › Section 26201.

26201. This division has the following objectives:
(a) Create good-paying energy efficiency and clean energy jobs in California.
(b) Put Californians to work repairing and updating schools and public buildings to improve their energy efficiency and make other clean energy improvements that create jobs and save energy and money.
(c) Promote the creation of new private sector jobs improving the energy efficiency of commercial and residential buildings.
(d) Achieve the maximum amount of job creation and energy benefits with available funds.
(e) Supplement, complement, and leverage existing energy efficiency and clean energy programs to create increased economic and energy benefits for California in coordination with the California Energy Commission and the California Public Utilities Commission.
(f) Provide a full public accounting of all money spent and jobs and benefits achieved so the programs and projects funded pursuant to this division can be reviewed and evaluated.
(Added November 6, 2012, by initiative Proposition 39, Sec. 2.)