House Bill No. by Representative Tarver establishes the Commercial Property Assessed Capital Expenditure and Resilience Programs (C-PACE) in Louisiana, allowing parish governing authorities to create and manage these programs. The bill introduces Chapter 10-E of Title 33 of the Louisiana Revised Statutes, which defines the program's purpose of facilitating financing for eligible improvements on commercial properties, such as disaster resilience enhancements, environmental remediation, and energy efficiency upgrades. The governing authority can either administer the program directly or engage a third-party administrator, and the ordinance must detail specific findings and qualifying project descriptions.

The bill outlines requirements for property owners seeking financing, including the necessity of a financing agreement with a capital provider and being current on mortgage payments. Repayment will occur through assessments treated like property taxes, with the program lien ranking similarly to ad valorem tax liens, ensuring effective enforcement and collection. Property owners must also disclose any outstanding assessments during property transactions. The bill further stipulates that financing terms can extend up to 30 years, with a maximum loan-to-value ratio of 100%, and mandates written consent from mortgage holders for participation in the program.