BILL NUMBER: AB 2428	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Ting

                        FEBRUARY 19, 2016

   An act to amend Section 26050 of the Public Resources Code,
relating to energy.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2428, as introduced, Ting. Property Assessed Clean Energy
Resource program.
    Existing law requires the California Alternative Energy and
Advanced Transportation Financing Authority to develop and administer
a Property Assessed Clean Energy Reserve program to reduce the
overall costs to property owners of a Property Assessed Clean Energy
Reserve bond, or PACE bond, issued by an applicant that has
established a Property Assessed Clean Energy program, or PACE
program, by providing a reserve of no more than 10% of the initial
amount of the PACE bond. Existing law makes various findings and
declarations regarding PACE financing.
   This bill would make a nonsubstantive change to the findings and
declarations.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 26050 of the Public Resources Code is amended
to read:
   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.