(1) As used in this chapter:(1) “Bond” means a revenue bond or note issued under this chapter;(2) “Capital provider” means an entity or entities, including without limitation a designee, a successor, or an assignee of the entity or entities, that is authorized to finance or refinance any qualifying improvements under this chapter;(3) “District” means a property assessed capital expenditure improvement district established in this state by law to facilitate PACE program financing under this chapter;(4) “Eligible property” means privately owned commercial, industrial, agricultural, nonprofit, mixed use, or multifamily residential real property with five (5) or more dwelling units, including without limitation real property owned by an entity formally recognized as tax exempt under 26 U.S.C. § 501(c), as it existed on January 1, 2025;(5) “Financing agreement” means the contract between a property owner and a capital provider under which a property owner agrees to repay a capital provider for the qualifying improvement's financing or refinancing, including without limitation:(A) Details of finance charges, fees, debt servicing, accrual of interest, and penalties; and(B) Terms relating to treatment of prepayment and partial payment, billing, collection, and enforcement of the repayment of the financing;(6) “Governmental entity” means a city, county, combination of cities or counties or both, or statewide district;(7) “Owner” means an individual, partnership, association, corporation, or other legal entity that is recognized by law and has title or interest in any real property;(8) “PACE program” means a property assessed capital expenditure program under which an owner of eligible property can finance a qualifying improvement on the eligible property;(9) “Person” means an individual, partnership, association, corporation, or other legal entity recognized by law as having the power to contract;(10) “Program administrator” means:(A) The department or individual within a governmental entity or district designated by the governmental entity or district to administer the PACE program; or(B) A private independent third party designated by the governmental entity or district to administer the PACE program, provided that the administration procedures conform to this chapter;(11) “Program guidebook” means a comprehensive document or collection of documents that:(A) Illustrates the applicable PACE program; and(B) Establishes appropriate guidelines, specifications, approval criteria, standard forms, and uniform documents consistent with the administration of a PACE program and not detailed in this chapter;(12) “Special assessment” means a voluntary lien imposed by a governmental entity on real eligible property located within the boundaries of a PACE program; and(13) “Qualifying improvement” means a permanently affixed energy efficiency improvement, alternative energy improvement, building resiliency improvement, or water conservation improvement installed on an eligible property as part of the construction or renovation of the eligible property.
(1) “Bond” means a revenue bond or note issued under this chapter;
(2) “Capital provider” means an entity or entities, including without limitation a designee, a successor, or an assignee of the entity or entities, that is authorized to finance or refinance any qualifying improvements under this chapter;
(3) “District” means a property assessed capital expenditure improvement district established in this state by law to facilitate PACE program financing under this chapter;
(4) “Eligible property” means privately owned commercial, industrial, agricultural, nonprofit, mixed use, or multifamily residential real property with five (5) or more dwelling units, including without limitation real property owned by an entity formally recognized as tax exempt under 26 U.S.C. § 501(c), as it existed on January 1, 2025;
(5) “Financing agreement” means the contract between a property owner and a capital provider under which a property owner agrees to repay a capital provider for the qualifying improvement's financing or refinancing, including without limitation:(A) Details of finance charges, fees, debt servicing, accrual of interest, and penalties; and(B) Terms relating to treatment of prepayment and partial payment, billing, collection, and enforcement of the repayment of the financing;
(A) Details of finance charges, fees, debt servicing, accrual of interest, and penalties; and
(B) Terms relating to treatment of prepayment and partial payment, billing, collection, and enforcement of the repayment of the financing;
(6) “Governmental entity” means a city, county, combination of cities or counties or both, or statewide district;
(7) “Owner” means an individual, partnership, association, corporation, or other legal entity that is recognized by law and has title or interest in any real property;
(8) “PACE program” means a property assessed capital expenditure program under which an owner of eligible property can finance a qualifying improvement on the eligible property;
(9) “Person” means an individual, partnership, association, corporation, or other legal entity recognized by law as having the power to contract;
(10) “Program administrator” means:(A) The department or individual within a governmental entity or district designated by the governmental entity or district to administer the PACE program; or(B) A private independent third party designated by the governmental entity or district to administer the PACE program, provided that the administration procedures conform to this chapter;
(A) The department or individual within a governmental entity or district designated by the governmental entity or district to administer the PACE program; or
(B) A private independent third party designated by the governmental entity or district to administer the PACE program, provided that the administration procedures conform to this chapter;
(11) “Program guidebook” means a comprehensive document or collection of documents that:(A) Illustrates the applicable PACE program; and(B) Establishes appropriate guidelines, specifications, approval criteria, standard forms, and uniform documents consistent with the administration of a PACE program and not detailed in this chapter;
(A) Illustrates the applicable PACE program; and
(B) Establishes appropriate guidelines, specifications, approval criteria, standard forms, and uniform documents consistent with the administration of a PACE program and not detailed in this chapter;
(12) “Special assessment” means a voluntary lien imposed by a governmental entity on real eligible property located within the boundaries of a PACE program; and
(13) “Qualifying improvement” means a permanently affixed energy efficiency improvement, alternative energy improvement, building resiliency improvement, or water conservation improvement installed on an eligible property as part of the construction or renovation of the eligible property.