Senate Bill 802 Summary

• Establishes a statewide Commercial Property Assessed Capital Expenditure (C-PACE) Program allowing local governments to voluntarily participate in financing commercial building improvements through property assessments that secure private financing.

• Eligible improvements include energy efficiency measures, renewable energy systems, water conservation, and resilience projects (storm retrofits, flood mitigation, backup generators) on commercial, industrial, agricultural, nonprofit, and multifamily residential properties with five or more dwelling units.

• Creates a C-PACE lien superior to all liens except taxes; financing cannot exceed 35% of property value and term cannot exceed the weighted average useful life of improvements; capital providers handle all billing, collection, and enforcement.

• Modifies tax foreclosure statutes to recognize C-PACE assessments as surviving liens in property sales, ensuring C-PACE liens remain enforceable through foreclosure proceedings.

• Authorizes the Department of Environmental Quality to develop draft wastewater discharge rules by August 1, 2024, permitting treated domestic wastewater discharges to low-flow or zero-flow receiving waters that meet specified low-risk criteria.