Assembly floor to vote on CNPA sponsored PACE clean-up bill

CNPA’s effort to cure anti-transparency legislation passed on the last day of session last year continues to the Assembly floor.

SB 1087 by Senator Richard Roth (D-Riverside) amends a law enacted last year that requires secrecy by the Department of Business Oversight when the agency orders individuals to stop selling products pursuant to the Property Assessed Clean Energy (PACE) program.

PACE loans are the subject of public scrutiny because the loans are attached to an individual’s property taxes and failure to pay on a loan could lead to foreclosure. This concerns consumer advocates who worry that vulnerable citizens may take out loans without truly understanding the consequences. The bill will be heard on the Assembly floor in the next two weeks.