State government: public investment opportunities: cost-effective definition.

Existing law authorizes the Public Utilities Commission, the State Air Resources Board, the California Transportation Commission, and the Labor and Workforce Development Agency to invest public moneys on various project and programs. Existing law requires some of those investments to be cost effective. This bill would require these agencies, by January 1, 2021, to provide a joint assessment of options for redefining the term "cost-effective" to the Legislature for the purposes of prioritizing public investment opportunities. The bill would require these agencies, in assessing the options for the definition, to consider the impact that investments would have on various specified factors. The bill would require these agencies to conduct a joint public process for completing the assessment and to solicit comments from interested stakeholders.