SC S0256

Authorizes local governments to establish Commercial Property Assessed Capital Expenditure (C-PACE) programs allowing commercial, industrial, agricultural, and multifamily (5+ units) property owners to finance qualifying improvements through voluntary assessments on their properties

Qualifying improvements include energy performance measures, water conservation systems, renewable energy installations, resiliency measures (storm retrofits, flood mitigation, wind resistance), and electric vehicle charging infrastructure

Assessments create liens with the same priority as ad valorem property taxes, run with the property until paid in full, and require written consent from all existing mortgage holders before financing can proceed

Minimum financing amount is $100,000, with assessment terms not exceeding 30 years or the useful life of the improvements, whichever is less

Programs must be administered by designated local government officials, regional councils of government, independent administrators, or capital providers meeting specified financial qualifications ($5 million minimum net worth, 3 years commercial lending experience)