A program administrator shall not approve for funding, and recordation by a public agency, an assessment contract unless the program administrator makes a reasonable good faith determination that the property owner has a reasonable ability to pay the annual payment obligations for the PACE assessment.
Notwithstanding Section 22696, this section shall become operative on April 1, 2018.
(Added by Stats. 2017, Ch. 475, Sec. 71. (AB 1284) Effective October 4, 2017. Section operative April 1, 2018, by its own provisions.)
Last modified: October 25, 2018