1. (a) A program administrator shall maintain in its books and records under section 1620.07 of these rules evidence documenting the confidence scores and estimated values for all the automated valuation models used to derive the market value of each property subject to a PACE assessment.
2. (b) The disclosure to the property owner of the market value determination for the property required under subdivision (b) of Financial Code section 22685 prior to the signing of the assessment contract shall be in writing.

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22684 and 22685, Financial Code; and Section 5898.16, Streets and Highways Code.

History

1. New section filed 8-5-2021; operative 10-1-2021 (Register 2021, No. 32). Transmission deadline specified in Government Code section 11346.4(b) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20.