Bill > HB153

This bill modifies the Property Assessment Clean Energy (PACE) Act by extending the maximum assessment contract term from 20 to 30 years, and making significant changes to how PACE programs can operate. Specifically, the bill prohibits PACE programs from being used for residential properties starting August 28, 2025, effectively ending residential PACE programs after a transitional period. The bill maintains provisions for commercial, nonprofit, governmental, and multi-unit residential properties to continue using PACE financing. The legislation requires clean energy development boards to provide more detailed reporting, including annual reports about projects, assessments, and estimated energy savings. It also introduces additional consumer protection measures for PACE contracts, such as a three-day cancellation right, mandatory disclosure of potential escrow impacts, and requirements to notify mortgage holders. The bill preserves the core purpose of PACE programs, which is to help property owners finance energy efficiency and renewable energy improvements, while adding more stringent oversight and gradually phasing out residential applications. The changes aim to balance supporting clean energy investments with protecting property owners and maintaining financial transparency.

https://house.mo.gov/Bill.aspx?bill=HB153&year=2025&code=R