This bill would create the Public Transmission Financing Fund within the State Treasury for the purpose of financing eligible transmission projects, as defined, 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. The bill would state the intent of the Legislature to enact subsequent legislation that would appropriate $325,000,000 from the Safe Drinking Water, Wildfire Prevention, Drought Preparedness, and Clean Air Fund to the Public Transmission Financing Fund. The bill would make the moneys in the fund, except as specified, continuously appropriated, without regard to fiscal year, for the support of eligible entities, as defined, and available for expenditure for the above-described purpose. By establishing a continuously appropriated fund, the bill would make an appropriation.

Additional provisions apply…