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Exempt New Energy Requirement If Not Subordinate Lien

Concerning an exemption from otherwise applicable requirements for financing from the Colorado new energy improvement district if a residential property owner is not seeking to subordinate the priority of existing mortgages.
2017 Regular Session
Local Government

Current law authorizes a homeowner to finance certain energy efficiency improvements to the home through a loan pursuant to the property assessed clean energy (PACE) program. The program requires an applicant to file a title commitment on the home and a hearing must be held in order to seek a voluntary subordination of existing liens to the program's junior lien.

The bill exempts a homeowner from the title commitment and hearing requirements if the owner or lender is not seeking to subordinate the priority of existing liens.

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)


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Bill Text