(a) A program administrator shall not provide any direct or indirect cash payment or other thing of material value to a contractor or third party in excess of the actual price charged by that contractor or third party to the property owner for the sale and installation of one or more efficiency improvements financed by an assessment contract.
(b) A program administrator shall not reimburse a contractor or third party for expenses for advertising and marketing campaigns and collateral. A program administrator may reimburse a contractor’s bona fide and reasonable training expenses related to PACE financing, provided that:
(1) The training expenses are actually incurred by the contractor.
(2) The reimbursement does not exceed one hundred dollars ($100) per each salesperson or agent of the contractor who participated in the training.
(3) The reimbursement is paid directly to the contractor, and is not paid to its salespersons or agents.
(c) A program administrator shall not provide any direct cash payment or other thing of value to a property owner explicitly conditioned upon that property owner entering into an assessment contract. Notwithstanding the above, programs or promotions that offer reduced fees or interest rates to property owners are neither a direct cash payment or “other thing of value,” provided that the reduced fee or interest rate is reflected in the assessment contract and in no circumstance provided to the property owner as cash consideration.
(Added by Stats. 2017, Ch. 484, Sec. 1. (SB 242) Effective January 1, 2018.)
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