Consumers First: Assembly Appropriations Supports PACE Measure

August 16, 2018

(SACRAMENTO) – In a move that underscores consumer protection, the Assembly Appropriations Committee voted in favor of Senator Richard D. Roth’s legislation, SB 1087. This piece of legislation demands greater accountability and transparency of Property Assessed Clean Energy (PACE) lenders to cut out abusive practices.

“I recognize value in the PACE program, but I cannot ignore the fact that too many people are unwittingly obligating themselves to financing they cannot afford,” said Senator Richard D. Roth (D-Riverside). “We must protect California homeowners. I believe SB 1087 strikes the correct balance of protection without over-regulation.”

SB 1087 makes crucial changes to the PACE program by cementing into law that a person must be clearly told what they can afford before signing a PACE contract. It also allows consumers to verify the person selling the product is in good standing with the state.

“This bill is an important next step in creating sensible statewide standards to protect consumers who enter into energy efficiency financing contracts that are secured by their homes,” said Suzanne Martindale, Senior Attorney at the Consumer Union. “Certain protections in this bill removes the incentive for a PACE solicitor engaging in door-to-door sales to mislead homeowners.”

Senator Roth continued: “I am proud to witness the support this bill has received and continues to receive as California sends a strong message that consumers should come first.”

# # #

Senator Richard D. Roth represents the 31st State Senate District, which includes the communities of Corona, Eastvale, Jurupa Valley, March Air Reserve Base, Moreno Valley, Norco, Perris and Riverside. Prior to his election, he served for 32 years in the United States Air Force, retiring in 2007 in the grade of Major General.