CA AB2150

Requires the Commissioner of Business Oversight to include program administrator reports on all PACE assessments funded through the emergency or immediate necessity waiver within the commissioner's composite annual report filed as a public record.

Allows program administrators to waive income verification requirements only for emergency heating, ventilation, air conditioning, boiler, or temperature regulation system improvements, with strict conditions including a maximum assessment of $15,000 or $125 monthly payment.

Mandates program administrators determine property owner ability to pay PACE assessments based on income, assets, debt obligations, and sufficient residual income for basic household living expenses using third-party verification records.

Specifies acceptable income verification methods including pay stubs, tax returns, W-2 forms, bank statements, employer records, and government benefit statements, while prohibiting income from temporary sources or property equity proceeds.

Effective April 1, 2018, with emergency waiver requirements including property owner confirmation of necessity, execution of cancellation rights waiver, and limitation to emergency improvements plus necessary installation work.