Energy: conservation: financial assistance.

Existing law requires the State Energy Resources Conservation and Development Commission to administer the State Energy Conservation Assistance Account, a continuously appropriated account in the General Fund, to provide grants and loans, until January 1, 2018, to schools, hospitals, public care institutions, and local governments to maximize energy use savings. For this purpose, existing law authorizes the commission, among other things, to borrow moneys from specified entities, including the California Infrastructure and Economic Development Bank, as specified, and pledge specified loans or the principal and interest payments on those loans to provide collateral in connection with those borrowed moneys. Existing law also authorizes the commission to enter into pledge agreements setting forth the terms and conditions pursuant to which the commission is making those pledges. This bill would extend the operation of all of those provisions to January 1, 2028, and would thereby make an appropriation by extending the time during which the funds deposited in a continuously appropriated account are made available for expenditure. The bill would authorize the commission to pledge collateral to secure the repayment of bonds or other borrowings by the California Infrastructure and Economic Development Bank. The bill would also expressly authorize the commission to enter into pledge agreements pursuant to which the commission is pledging collateral to secure the repayment of bonds or other borrowings by the California Infrastructure and Economic Development Bank.