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Committee considers PACE reforms: residential PACE phased out, commercial PACE extended to 30 years (House Bill 1155)
Summary
House Bill 1155 would eliminate residential PACE contracts statewide, extend commercial PACE assessment terms to up to 30 years (where product useful life justifies it), and allow PACE providers to use out‑of‑state contracts for credit enhancement.
Representative Owen presented House Bill 1155 proposing a three‑part revision to PACE (Property Assessed Clean Energy) law: eliminate residential PACE contracts after Aug. 20, extend the maximum assessment period for commercial PACE from 20 to 30 years (subject to weighted useful life limits), and allow PACE providers to use contracts from other states as credit enhancement or collateral.
Owen recounted the state’s prior experience with residential PACE and said abuses by non‑lender installers prompted strict residential safeguards in recent legislation that effectively ended residential PACE activity in Missouri. “We put dramatic clamps on…
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