Governor Brown Signs Senator Roth’s Consumers Protection Measure
(SACRAMENTO) – In the final days of this year’s legislative session, Governor Brown signed a bill by Senator Richard D. Roth that ensures greater accountability and transparency of Property Assessed Clean Energy (PACE) lenders to cut out abusive practices. SB 1087 will soon take effect in California.
“I recognize the incredible value that the PACE program provides; however, it is impossible to ignore the fact that too many people are obligating themselves to financing that they simply cannot afford. Trying to dupe a homeowner, who is truly trying to do the right thing by making their home more efficient, is just wrong,” said Senator Richard D. Roth (D-Riverside). “We must protect California homeowners. SB 1087 strikes the correct balance of protection without over-regulation, and Governor Brown agrees.”
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. “Protections in this bill remove the incentive for a PACE solicitor engaging in door-to-door sales to mislead homeowners.”
Senator Roth continued: “I am proud to see the Governor’s signature on this bill, which has received sweeping bipartisan support throughout the entire legislative process. It sends a strong message to bad actors: in this state, consumers should come first.”
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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.