CA AB2597

Amends the Property Assessed Clean Energy (PACE) financing program to require the California Alternative Energy and Advanced Transportation Financing Authority to consider whether PACE programs limit financing to less than 15% of property value (up to $700,000) and less than 10% of value above $700,000

Requires PACE programs to ensure total mortgage-related debt and PACE financing does not exceed the property value

Expands PACE program eligibility to include electric vehicle charging infrastructure in addition to renewable energy and energy/water efficiency improvements

Establishes a PACE risk mitigation program intended to reduce default and foreclosure risk and increase acceptance by mortgage lenders, including federal enterprises like Fannie Mae and Freddie Mac

Specifies PACE program requirements including borrower creditworthiness, legal property ownership, and adherence to energy efficiency standards