CA SB242

Requires program administrators to make oral confirmations with property owners before executing PACE assessment contracts, including confirmation that owners have required documents and acknowledgment of key contract terms, with all communications recorded and retained for five years.

Mandates oral confirmations be conducted in the property owner's preferred language (from those specified in Civil Code Section 1632) or through an interpreter selected by the owner, with written translations of all contract documents provided before execution.

Prohibits program administrators from waiving or deferring first PACE assessment payments; first payment must be due no later than the fiscal year following completion of the efficiency improvement installation.

Restricts contractor payments to actual prices charged for improvements, limits reimbursement of training expenses to $100 per salesperson, and prohibits conditioning cash payments or incentives on property owners entering assessment contracts.

Establishes that home improvement work cannot commence if the property owner reasonably believed it would be covered by PACE financing and subsequently cancels within the three-business-day cancellation period; contractors must restore property to original condition at no cost and return all consideration.

Requires program administrators to submit bi-annual reports to public agencies containing detailed data on funded assessments, delinquencies, defaults, energy/water savings, renewable energy production, and demographic information by city, county, and ZIP code.