CA AB1284

Renames the "California Finance Lenders Law" to the "California Financing Law" and requires program administrators operating PACE programs to obtain licenses from the Commissioner of Business Oversight, effective January 1, 2019.

Establishes strict underwriting requirements for PACE assessment contracts, including property owner ability-to-pay determinations, property valuation standards, debt-to-value limits (97% cap), and restrictions on assessment term lengths based on equipment useful life.

Requires program administrators to enroll and monitor PACE solicitors and agents through background checks, training programs, and compliance procedures, with authority for the commissioner to investigate and take disciplinary action.

Imposes protections including verification of current property taxes, no notices of default, bankruptcy restrictions (7-year lookback), and reasonable estimation of property owner income and debt obligations before approving assessment contracts.

Authorizes the commissioner to establish a real-time registry system for tracking PACE assessments with costs apportioned among licensed program administrators.