California Public Resources Code

§ 26054

PRC § 26054 Effective Jan 1, 2013Div. 16 · Ch. 4 · Art. 1

Statute text

“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.

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Legislative history

Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.