House Bill No. by Representative Tarver introduces a new chapter in the Louisiana Revised Statutes, specifically Chapter 10-E, which empowers parish governing authorities to establish Commercial Property Assessed Capital Expenditure and Resilience Financing Programs (C-PACE programs). The bill aims to facilitate financing for eligible improvements on commercial properties that enhance resilience against natural disasters, improve environmental quality, and promote energy and water efficiency. It defines key terms such as "capital provider," "commercial property," and "eligible improvements," and outlines the operational framework for these programs, including the roles of program administrators and the requirements for financing agreements.

The legislation details the process for creating a C-PACE program, requiring an ordinance from the parish governing authority that demonstrates the financing serves a valid public purpose and describes qualifying projects. It allows for the imposition of fees to cover administrative costs and sets criteria for property owners to qualify for financing, including being current on mortgage payments. Repayment will be structured through a program lien that takes precedence over other liens, ensuring security for the financing. The bill also mandates that the program administrator file a statement of the program lien with the parish recorder of mortgages, allowing the parish to enforce this lien, which remains valid even in the event of foreclosure. Additionally, sellers must disclose any outstanding program liens to potential buyers, ensuring transparency in the financing process.