California's PACE (Property Assessed Clean Energy) program allows a property owner to finance energy-efficiency or water-conservation improvements and repay the cost through:
Explanation
PACE financing is repaid as a contractual assessment placed on the property owner's annual property tax bill, which is why it runs with the land and why a PACE solicitor must be registered under Financial Code §22017. The contractor's licence bond secures compliance with the licence law and has nothing to do with the owner's financing. Payroll tax is an employer liability, not a source of project funds. And PACE is a loan repaid over years, so calling it a grant misses the whole point of the programme.
Law Reference: Streets & Highways Code §5898.20; Financial Code §22017This topic, taught in full in the CSLB Law & Business guide. CSLB Law & Business — Complete Study Guide (2026) — PDF + EPUB, $24.99 · 14-day refund →
Practice all 1632 questions free — no signup required.
Own the complete CSLB Law & Business guide — PDF + EPUB, $24.99 →
Related questions on this topic
- A contractor's job is 30% complete. Total estimated job costs are $250,000 and the contract price is $320,000. Under the percentage-of-completion method, how much job cost should be recognized to date?
- On a balance sheet, which of the following is classified as a CURRENT asset?
- A contractor has current assets of $120,000 and current liabilities of $80,000. What is the current ratio?
- A contractor's job estimate includes $40,000 materials, $35,000 labor, and $25,000 subcontractors. The contractor adds 16% overhead and then 12% profit on the overhead-loaded cost. What is the bid price (rounded to the nearest dollar)?
- A contractor pays a worker $25 per hour for 45 hours in one week, with overtime at 1.5 times the regular rate for hours over 40. What are the gross wages for the week?
- Beyond an employee's gross wages, a contractor must also budget for the employer's share of payroll taxes. This additional cost is commonly referred to as:
Last reviewed: · editorial process