California Public Resources Code

§ 94520

PRC § 94520Div. 50 · Ch. 9

Statute text

(a)Of the funds made available by Section 94500, three hundred twenty-five million dollars ($325,000,000) shall be available, upon appropriation by the Legislature, to the California Infrastructure and Economic Development Bank, the State Energy Resources Conservation and Development Commission, or any other entity chosen by the Legislature, upon appropriation by the Legislature, for the public financing of clean energy transmission projects that are necessary to meet the state’s clean energy goals to reduce or offset ratepayer costs associated with the public benefits of transmission projects.

(b)Preference may be given to projects under this section that provide multiple benefits, including, but not limited to, reducing the risk of wildfire, reducing reliance on fossil fuel plants in disadvantaged communities, and reducing rate pressure, including reconductoring and other grid-enhancing technologies.

Legislative history

Added by Stats. 2024, Ch. 83, Sec. 2. (SB 867) Approved in Proposition 4 at the November 5, 2024, election. Effective November 6, 2024.