A. The Oklahoma Energy Independence Act shall apply to all properties, except single-family residential properties, on which property taxes are to be paid and on which the owners of the property are current in the payment of the property taxes, if applicable. For the purpose of this act, property that is not classified as single-family residential property shall be classified as commercial property. The Oklahoma Energy Independence Act shall not apply to any property zoned as single-family residential property. Counties are authorized to establish commercial Property Assessed Clean Energy (PACE) programs by resolution, without the prior establishment of a County Energy District Authority, to facilitate loans between qualifying property owners and private capital providers. Counties that approve PACE programs are authorized to enter into assessment contracts with property owners and private capital providers in which:

B. The repayment of any loan made pursuant to the Oklahoma Energy Independence Act shall be through annual assessments levied by the county and collected under terms agreed to by the property owner and the private capital provider.

C. Assessments levied to repay a loan made pursuant to the Oklahoma Energy Independence Act shall constitute a lien on the property which is the subject of the loan only upon the recording of an assessment contract provided by the county on the property in the office of the county clerk. Any lien imposed pursuant to the Oklahoma Energy Independence Act shall run with the property and have the same priority and status as a lien for unpaid ad valorem property taxes and shall not be extinguished by virtue of a sale by the county for delinquent property taxes or other special assessments. The method of enforcing a lien for failure to pay an assessment related to any loan made pursuant to the Oklahoma Energy Independence Act shall be by the private capital provider in the same manner and with the same priority as the enforcement by the holder of any bond or coupon related to a lien for unpaid assessments, as provided by law and pursuant to this subsection. If any assessment levied to repay a loan made pursuant to the Oklahoma Energy Independence Act remains unpaid for six (6) months after payment is due, the private capital provider may file an action in the district court in which the property is located to foreclose the lien of the assessment, statutory delinquent interest, as provided in this subsection, and reasonable legal fees. Any action filed pursuant to this subsection shall not accelerate repayment of the unpaid balance of a loan made pursuant to the Oklahoma Energy Independence Act. Unpaid assessments levied to repay a loan made pursuant to this act shall accrue statutory delinquent interest at the same rate as a late payment penalty for delinquent ad valorem taxes. Judgment in an action to enforce the lien shall order the property to be sold in the manner and form as foreclosure of mortgages on real estate, with appraisement. The sale shall be subject to existing taxes and special assessments, as well as assessments levied to repay a loan made pursuant to the Oklahoma Energy Independence Act.

D. Only appliances or improvements that are permanently affixed to the property shall be eligible for financing pursuant to the Oklahoma Energy Independence Act. Improvements shall be related to energy efficiency, energy sources, water conservation or building resiliency and are available for new construction or improvements on existing buildings that are qualifying properties. County PACE programs shall establish which improvements qualify for financing.