The "South Carolina Commercial Property Assessed Clean Energy and Resilience Act" establishes a framework for Commercial Property Assessed Clean Energy (C-PACE) programs, enabling local governments to voluntarily implement these programs to provide low-cost, long-term financing for improvements on agricultural, commercial, industrial, and multifamily residential properties. The bill aims to enhance economic development, sustainability, and safety of building stock, while also improving disaster response and reducing energy and water costs. It includes detailed definitions and provisions for program administration, including the roles of local governments, capital providers, and program administrators, as well as the process for establishing assessment agreements and the types of qualified improvements eligible for financing.

The legislation allows property owners to apply for funding for qualified improvements with a minimum financing amount of $100,000, and local governments can levy assessments through agreements with property owners, contingent upon verification of eligibility. The bill outlines the responsibilities of program administrators, including maintaining a program guidebook and charging fees for administration, capped at one percent of the total financed amount or $50,000. It specifies procedures for billing and collecting assessments, which may be included in property tax bills, and establishes that assessments create a lien against the property. Importantly, the bill clarifies that public funds will not be used for financing agreements, nor will the state or local governments be liable for assessments. It also prohibits the replacement of natural gas appliances with electric ones unless both services are provided by the same entity.