The "South Carolina Commercial Property Assessed Clean Energy and Resilience Act" establishes a framework for Commercial Property Assessed Clean Energy (C-PACE) programs in South Carolina, enabling local governments to voluntarily implement these programs. The legislation aims to provide low-cost, long-term financing for qualifying improvements on agricultural, commercial, industrial, and multifamily residential properties, promoting economic development, job creation, sustainability, and disaster response without incurring costs for local governments. It includes detailed definitions and provisions regarding assessments, assessment agreements, and the administration of the C-PACE programs, streamlining the financing process by allowing local governments to sell or assign assessment agreements without competitive bidding.

The bill outlines the requirements for property owners to apply for financing, including a minimum financing amount of $100,000, verification of no delinquent taxes or liens, and the necessity for licensed contractors and engineers to be involved in the proposed improvements. It specifies that assessments will constitute a lien against the property and can be included in regular property tax bills. Additionally, the act clarifies that public funds will not be used for financing, and the state or local governments cannot pledge their full faith and credit for C-PACE program liens. The act will take effect upon the Governor's approval.