School bonds: School Disaster Resiliency Act.

The California School Finance Authority Act establishes the California School Finance Authority, and authorizes the authority to, among other things, issue revenue bonds to finance or refinance educational facility projects for school districts, charter schools, county offices of education, and community college districts. The Archie-Hudson and Cunneen School Technology Revenue Bond Act authorizes the authority to issue revenue bonds to finance, among other things, the establishment of computer-based networks and telecommunications systems for instructional purposes by school districts. Existing law establishes the State Energy Resources Conservation and Development Commission (Energy Commission) and establishes various duties and responsibilities of the Energy Commission relating to energy usage in the state. This bill would establish the School Disaster Resiliency Act, which would require the Energy Commission to administer a program to provide loans to school districts, county offices of education, and charter schools for school resiliency projects, as provided. The bill would require the Energy Commission to allocate resiliency loan funding for projects in a specified order of priority. The bill would require the Energy Commission to develop application procedures for purposes of the program, as specified, and to provide local educational agencies with preapplication funding for technical assistance. The bill would require the authority, in consultation with the commission, to adopt regulations establishing uniform terms and conditions that are required to apply equally to all projects for resiliency loan funding under these provisions. The bill would authorize the authority to adopt, amend, or repeal rules and regulations pursuant to these provisions as emergency regulations in accordance with the rulemaking provisions of the Administrative Procedure Act. The bill would establish the School Disaster Resiliency Fund, as a continuously appropriated fund, under the administration of the Energy Commission, thereby making an appropriation. The bill would authorize the authority to issue up to $1,000,000,000 in revenue bonds and require the bond revenues be deposited in the fund to be used for purposes of the loan program described above. The bill would also require that loan repayments, fees, and penalties be deposited in the fund.