CS/HB 101 - Summary

• Amends Florida's PACE (Property Assessed Clean Energy) program to establish stricter requirements for financing agreements that fund energy efficiency, renewable energy, and wind resistance improvements through non-ad valorem assessments.

• Requires local governments and program administrators to conduct ability-to-pay assessments for residential properties by reviewing household income, housing expenses, assets, and debt obligations before approving financing agreements.

• Mandates written disclosure forms, printed cancellation forms, and recorded telephone calls with property owners explaining all terms, risks (including mandatory payoff upon sale/refinance), and confirming understanding before financing agreement execution; establishes a 3-day cancellation right.

• Limits non-ad valorem assessments to 20% of property fair market value and prohibits financing agreements with negative amortization schedules, balloon payments, or prepayment fees on residential properties; requires PACE contractors to meet licensing and bonding requirements.

• Prohibits misleading marketing claiming improvements are free or that financing doesn't require repayment; requires local governments to post annual reports on website detailing program data including participation rates, defaults, and job creation.