This bill would additionally authorize the commission to allocate moneys in the fund or account for capacity funding activities and grants within local communities and tribal communities to engage in the process of offshore wind energy development. By expanding the purposes for which continuously appropriated moneys may be allocated, the bill would make an appropriation.
This bill would create the Offshore Wind Community Capacity Funding Grant Account in the fund, and would continuously appropriate the moneys in this account to the commission to fund capacity funding activities and award capacity funding grants, thereby making an appropriation, as specified. The bill would require California offshore wind leaseholders to provide financial assistance to fund those activities and grants for the 3-year period after the leaseholder executes an offshore wind lease, as provided. The bill would make that financial assistance subject to the reporting requirement described above. The bill would require the commission to annually prepare and submit a report report, on or before March 1 of each year, to the Legislature on the implementation and effectiveness of those activities and grants. The bill would require the commission to develop guidelines guidelines, as provided, for the use of those moneys, and would require the guidelines to be subject to review and revision every 3 years.