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 owners of agricultural, commercial, industrial, and multifamily residential properties 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 establishment process for these programs, and specifies the roles of program administrators, ensuring that financing is accessible for energy efficiency measures, renewable energy resources, and resiliency improvements.

The legislation mandates that local governments enter into assessment agreements with property owners, requiring verification of specific criteria such as the absence of delinquent taxes and liens. It establishes that assessments will be treated as a lien against the property, collected alongside property taxes, and prioritized similarly to ad valorem taxes. The bill also clarifies that public funds will not be used for financing and restricts the replacement of natural gas appliances with electric ones unless both services are provided by the same entity. The act will take effect upon the Governor's approval.