The "South Carolina Commercial Property Assessed Clean Energy and Resilience Act" establishes a framework for local governments to implement Commercial Property Assessed Clean Energy (C-PACE) programs, allowing property owners in agricultural, commercial, industrial, and multifamily residential sectors to secure low-cost, long-term financing for qualifying improvements. The bill aims to enhance economic development, job creation, sustainability, and disaster response without incurring costs for local governments. It defines key terms, outlines the process for local governments to create these programs, and specifies the roles of program administrators, ensuring that financing is accessible for energy efficiency, renewable energy, and resiliency measures.

The legislation mandates that property owners must enter into assessment agreements with local governments before assessments can be levied, ensuring properties are free of delinquent taxes and liens. It details the verification process required by program administrators, including the necessity for licensed contractors and engineers. The bill also outlines the procedures for billing and collecting assessments, which can be integrated into property tax bills, and establishes that assessments create a lien on the property. Importantly, it clarifies that public funds will not be used for financing, nor will the state or local governments be liable for assessments, while prohibiting PACE financing for certain projects involving natural gas and electric appliances. The act will take effect upon the Governor's approval.