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Residential Property Assessed Clean Energy Consumer Protection Task Force


The 2017 Minnesota Legislature established, under the responsibility of the Minnesota Department of Commerce, the Residential Property Assessed Clean Energy (PACE) Consumer Protection Task Force

The Task Force is charged with developing recommendation to:

  1. Address concerns regarding the possible constraints on free alienation of residential property caused by existence and amount of the PACE liens;
  2. Reduce and minimize any point-of-sale confusion in transactions involving PACE-encumbered homes;
  3. Ensure conspicuous and meaningful disclosure of, among other things:
    1. all costs and fees of a residential PACE loan; and
    2. the risks, such as foreclosure and higher costs, that may be associated with residential PACE loans relative to other financing mechanisms;
  4. Ensure that the ability to repay standard uses commonly accepted underwriting principles;
  5. Ensure that consumer provisions required of and protections that apply to conventional loans and other financing options, including but not limited to the Truth in Lending Act and the Real Estate Settlement Procedures Act, are required of and apply to PACE financing;
  6. Address any unique protections necessary for elderly, low-income homeowners and other financially vulnerable homeowners;
  7. Establish criteria to ensure the cost-effectiveness of PACE-enabled clean energy improvements; and
  8. Address any other issues the task force identifies that are necessary to protect consumers.

The Task Force must submit a report including any draft legislation necessary to implement the recommendations by January 15, 2018.

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