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PACE Regulations Stakeholder Meeting - Dec 1

Dear Stakeholder:

Governor Brown recently signed legislation establishing the nation’s most extensive set of consumer protections for California homeowners who finance energy-efficiency improvements through the Property Assessed Clean Energy, or PACE program. The legislation, AB 1284 by Assemblyman Matthew Dababneh, grants the Department of Business Oversight (DBO) authority to license PACE program administrators and regulate the PACE industry. The consumer protections established in AB 1284 will benefit the public while providing homeowners access to clean energy upgrades with more transparent financing. The new law requires PACE program administrators to be licensed by January 1, 2019.

To implement the law, the DBO will draft regulations. Prior to initiating a formal rulemaking action, the DBO will hold a meeting to engage stakeholders and solicit initial comments. The Department seeks input from parties who would be subject to the regulations and all others interested in this discussion. These comments will help the Department to determine what regulations are necessary and appropriate for the PACE program. Topics that may be covered in the regulations include:

  • Application information to be submitted
  • Annual Report data to be collected and submitted
  • Advertising standards, if necessary
  • Books and records: information to be retained, such as financial records, assessment records, agreements, complaints
  • Clarifications of AB 1284
  • Complaint processes and procedures
  • Deceptive acts or practices
  • Periodic review standards Solicitor enrollment standards or processes
  • Solicitor monitoring standards
  • Processes for canceling enrollment and notifying department
  • Training program standards or processes
  • Underwriting clarifications, if necessary

    The DBO will solicit written comments after the meeting with more targeted topics. Throughout the next year, there will be continued opportunities for stakeholder input in the rulemaking process.

    Comments at this initial meeting will be limited to three minutes per person. Please let us know in advance if you plan to comment.

    PACE Regulations Stakeholder Meeting
    December 1, 2017
    9:30 a.m. 1515 K Street, 5th Floor, Suite 550
    Sacramento, CA 95814

    Participant Dial-In Number: (877) 930-5598
    Passcode: 1310436

    Please RSVP to Cassandra DiBenedetto at cassandra.dibenedetto@dbo.ca.gov by November 16, 2017. Please let us know if you will attend in person or participate using the dial-in number.

    If you have any questions regarding the meeting, please contact Lila Mirrashidi at lila.mirrashidi@dbo.ca.gov

    Sincerely,

    /s/
    Jan Lynn Owen
    Commissioner of Business Oversight

     

     

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