MA S1969

Creates a new Chapter 80B establishing a residential Property Assessed Clean Energy (R-PACE) financing program allowing municipalities to opt-in by majority vote to finance qualifying improvements through betterment assessments collected with property taxes

Qualifying improvements include sewerage system repairs/upgrades, roof improvements, flood mitigation measures, energy-efficient windows/doors/HVAC/insulation, renewable energy systems, electric vehicle charging equipment, and water conservation measures for properties with 4 or fewer dwelling units

Total betterment assessment cannot exceed 20% of property fair market value, annual payments cannot exceed 10% of household income, and financing terms are capped at 30 years with no balloon payments or prepayment penalties beyond nominal administrative costs

Requires extensive consumer protections including written disclosures, recorded telephone confirmation calls, 3-day cancellation period, 5-day advance notice to existing mortgage holders, and prohibition on mortgage acceleration clauses triggered solely by entering a financing agreement

Establishes contractor registration requirements, prohibits program administrators from misrepresenting assessments as government assistance or free improvements, and requires annual public reporting on number of improvements funded and assessment amounts collected