FL S0824

Renames and restructures Florida's Property Assessed Clean Energy (PACE) program, establishing requirements for PACE loans that finance energy efficiency, renewable energy, and wind resistance improvements on residential and commercial properties

Changes PACE lien priority to be subordinate to all previously recorded liens and first mortgages recorded after the PACE lien, rather than having equal priority to county taxes

Requires ability-to-repay verification for residential PACE loans, including confirmation that the property owner's debt-to-income ratio does not exceed 43% and verification of income through tax returns or other documentation

Mandates consumer protections for residential PACE loans including a 3-day right to cancel, recorded telephone confirmation of loan terms, prohibition on prepayment penalties, and limits on loan amounts to 15% of property value with maximum 15-year terms

Requires written consent from all existing mortgage holders before a PACE loan can be issued, and prohibits PACE administrators from making false or misleading statements about the program