Pub. Resources Code, § 25235

(a) For purposes of this section, “financing or investment solutions” means financing or investment solutions that are consistent with the United States Environmental Protection Agency’s inclusive utility investments policies or other industry best practices, and that will enable electrical corporations, community choice aggregators, or other eligible entities to provide zero-emission, clean energy, or decarbonizing building upgrades.

(b) (1) On or before December 31, 2023, the commission, in coordination with the Governor’s Office of Business and Economic Development, the Public Utilities Commission, and the Treasurer, shall do all of the following:

(A) Identify available state and federal financing or investment solutions.

(B) Apply for federal financing or investment solutions, where applicable.

(C) Provide technical assistance to electrical corporations, community choice aggregators, or other eligible entities to apply for state and federal financing or investment solutions.

(2) The commission may consult with the United States Department of Energy regarding the identification of federal financing or investment solutions, pursuant to paragraph (1).

(3) To maximize the state’s access to federal financing or investment solutions, pursuant to paragraph (1), the commission may do any of the following:

(A) Identify the authority of the Treasurer to administer financing or investment solutions, and to identify programs administered by the Treasurer that provide financing or investment solutions.

(B) Identify funding appropriated in the Budget Act of 2022 that enables or otherwise impacts the availability of federal funding for financing or investment solutions.

(C) Identify state programs, authorizations, and administrative actions that enable, or could enable, access to federal funding for financing or investment solutions, including, but not limited to, Public Utilities Commission Rulemaking 20-08-022 (Order Instituting Rulemaking to Investigate and Design Clean Energy Financing Options for Electricity and Natural Gas Customers), filed August 27, 2020.

(c) On or before December 31, 2023, the commission shall prepare and submit a report to the relevant committees of the Legislature that describes any statutory changes necessary to improve access to federal funding for financing or investment solutions.

(d) Notwithstanding Section 10231.5 of the Government Code, this section shall remain in effect only until January 1, 2028, and as of that date is repealed.