Bill > HB2119

This bill modifies the Property Assessment Clean Energy (PACE) Act by making several key changes. The most significant modification is that the bill now explicitly prohibits PACE programs from being applied to residential properties, effectively limiting the program to commercial, nonprofit, governmental, and multi-unit residential properties with more than four units. The bill extends the maximum assessment contract period from 20 to 30 years and allows clean energy development boards to accept loans or assessment contracts from other states. The legislation provides detailed requirements for assessment contracts, including provisions for verifying project costs, ensuring economic benefits, and protecting property owners through cancellation rights and mortgage holder notifications. The bill also establishes a sunset provision for residential PACE programs, making them effective only from January 1, 2022, to August 28, 2026, after which residential properties will be completely exempted from the PACE program. Clean energy development boards are required to maintain transparency by filing annual reports and creating public websites with program information, and they must offer local financial institutions the first opportunity to provide administrative services for project financing.

Business and Industry

https://house.mo.gov/Bill.aspx?bill=HB2119&year=2026&code=R