California Climate Technology and Infrastructure Financing Act.

Existing law, the Bergeson-Peace Infrastructure and Economic Development Bank Act, authorizes the California Infrastructure and Economic Development Bank, governed by a board of directors, to make loans, issue bonds, and provide other assistance for various types of economic development projects, among other things. The activities of the bank under these provisions are funded from the California Infrastructure and Economic Development Bank Fund, which is continuously appropriated for these purposes. This bill would enact the California Climate Technology and Infrastructure Financing Act to require the bank, in consultation with specified agencies to administer the Climate Catalyst Revolving Fund, which the bill would establish to provide financial assistance to eligible climate catalyst projects, as defined. The bill would require the bank to administer the climate catalyst loan program, would establish the Climate Catalyst Revolving Fund for these purposes, and would continuously appropriate the fund for these purposes, with specified restriction.