CA AB 124

Title: Energy.
Author: House Budget Committee

Summary
AB 124, as amended, Committee on Budget. Energy. (1) The Bergeson-Peace Infrastructure and Economic Development Bank Act establishes the California Infrastructure and Economic Development Bank (I-Bank) in the Governor’s Office of Business and Economic Development, governed by a board of directors. The act, among other things, authorizes the I-Bank to make loans, issue bonds, and provide financial assistance for various types of projects that qualify as economic development or public development facilities.The Climate Catalyst Revolving Loan Fund Act of 2020 authorizes the I-Bank, under the Climate Catalyst Revolving Loan Fund Program, to provide financial assistance to any eligible sponsor or participating party for eligible climate catalyst projects, as defined, either directly to the sponsor or participating party or to a lending or financial institution, as specified. The act, beginning in the 2021–22 fiscal year, requires the I-Bank to adopt a climate catalyst financing plan, as specified, after meeting and conferring with authorized consulting agencies concerning specific categories of climate catalyst projects. The act establishes the Climate Catalyst Revolving Loan Fund, a continuously appropriated fund, in the state treasury for the purpose of implementing the objectives and provisions of act.This bill, beginning in the 2023–24 fiscal year, would require a climate catalyst financing plan to authorize the I-Bank to provide financial assistance and to use all financing authorities provided under the Bergeson-Peace Infrastructure and Economic Development Bank Act in its implementation of a climate catalyst financing plan. The bill would additionally authorize specified state agencies to provide consultation on climate catalyst projects to leverage federal funding available under the United States Environmental Protection Agency’s Greenhouse Gas Reduction Fund, as provided, and would authorize the Climate Catalyst Revolving Loan Fund to receive moneys from the federal government and funds sourced from federal appropriations, as specified. The bill would require use of the moneys and funds to comply with specified criteria. (2) Existing law requires the State Energy Resources Conservation and Development Commission (Energy Commission) and the State Air Resources Board, on or before December 31, 2024, to prepare a Transportation Fuels Transition Plan and requires the Energy Commission and the state board to prepare the plan in consultation with the state’s fuel producers and refiners and a multistakeholder, multiagency workgroup, including the California Environmental Protection Agency and the Natural Resources Agency, that is convened by the Energy Commission and the state board.This bill would instead require the Energy Commission, the state board, the California Environmental Protection Agency, and the Natural Resources Agency to convene the multistakeholder, multiagency workgroup and would require the workgroup to consist of members representing specified interests and groups, including the state’s fuel producers and refiners.Existing law, beginning on June 26, 2023, establishes the Independent Consumer Fuels Advisory Committee within the Energy Commission to advise the Energy Commission and the Division of Petroleum Market Oversight. Existing law specifies that the committee has access to all information submitted to the Energy Commission or to the division necessary to fulfill its duties.This bill would instead specify that the committee has access to aggregated or otherwise anonymized information submitted to the Energy Commission or to the division necessary to fulfill its duties under conditions as the Energy Commission determines necessary to ensure that public disclosure of specific information does not result in an unfair competitive disadvantage to the person supplying the information or adversely affect market competition. (3) Existing law creates the Demand Side Grid Support Program, and requires the Energy Co

Status
Re-referred to Com. on B. & F.R.

Bill Documents
CA AB 124 - 06/26/23 - Amended Senate

CA AB 124 - 06/25/23 - Amended Senate

CA AB 124 - 02/01/23 - Amended Assembly

CA AB 124 - 01/09/23 - Introduced

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