The "South Carolina Commercial Property Assessed Clean Energy and Resilience Act" establishes a framework for Commercial Property Assessed Clean Energy (C-PACE) programs that local governments can voluntarily implement. This legislation enables owners of agricultural, commercial, industrial, and multifamily residential properties to secure low-cost, long-term financing for qualifying improvements by agreeing to have an assessment levied on their properties. The bill outlines the goals of these programs, which include enhancing economic development, job creation, building sustainability, and improving disaster response, while ensuring that local governments incur no costs. It introduces new definitions and processes related to C-PACE, including assessment agreements and financing agreements, and mandates local governments to adopt ordinances to create these programs.

The bill also sets forth specific requirements for property owners seeking financing, including a minimum financing amount of $100,000 and the necessity for local governments to verify that properties are free of delinquent taxes and liens before entering into assessment agreements. It details the roles of program administrators and capital providers, the procedures for billing and collecting assessments, and clarifies that assessments will be treated as liens against the property. Additionally, the legislation ensures compliance with safety and performance standards for improvements and restricts the use of funds to prevent conflicts with existing laws. The act will take effect upon approval by the Governor.