Electric Program Investment Charge: Clean Vehicle Rebate Project program.

Under existing law, the Public Utilities Commission (PUT) has regulatory authority over public utilities, including electrical corporations, as defined. The Reliable Electric Service Investments Act required the PUC to require the state's 3 largest electrical corporations, until January 1, 2012, to identify a separate electrical rate component, commonly referred to as the "public goods charge," to collect specified amounts to fund energy efficiency, renewable energy, and research, development, and demonstration programs that enhance system reliability and provide in-state benefits. An existing decision of the PUC institutes an Electric Program Investment Charge (EPIC) , subject to refund, to fund renewable energy and research, development, and demonstration programs. This bill would establish the Clean Vehicle Rebate Project Fund in the State Treasury and require the PUC to allocate not less than $15,000,000 from the moneys collected pursuant to the EPIC to the fund. The bill would authorize the State Air Resources Board, upon appropriation by the Legislature, to use moneys in the fund for distribution as rebates pursuant to the program criteria established pursuant to the state board's Clean Vehicle Rebate Project program.