Financial Code section 22003.5

“Assessment contract” means an agreement entered into between all property owners of record on real property and a public agency in which, for voluntary contractual assessments imposed on the real property, the public agency provides a PACE assessment for the installation of one or more efficiency improvements on the real property in accordance with a PACE program, specified in paragraph (2) of subdivision (a) of Section 5898.20 of the Streets and Highways Code, or Section 5899 or 5899.3 of the Streets and Highways Code, or a special tax described in Section 53328.1 of the Government Code.
This section shall become operative on January 1, 2029.

Source: Section 22003.5, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=22003.­5.­ (updated Jan. 1, 2019; accessed Dec. 29, 2025).

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Verified:
Dec. 29, 2025

§ 22003.5's source at ca​.gov