Public Resources Code - PRC
DIVISION 16. CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT [26000 - 26082]
( Heading of Division 16 amended by Stats. 1994, Ch. 1218, Sec. 2. ) CHAPTER 4. Property Assessed Clean Energy (PACE) and Clean Energy Financing Program [26050 - 26082]
( Chapter 4 added by Stats. 2012, Ch. 677, Sec. 33. ) ARTICLE 1. General Provisions and Definitions [26050 - 26056]
( Article 1 added by Stats. 2012, Ch. 677, Sec. 33. ) 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.)