Bill > AB729

This bill amends existing California law regarding how electric and gas utilities distribute climate credits, which are revenues from greenhouse gas allowances. Specifically, the bill mandates that electrical corporations provide the electric California Climate Credit to residential and small business customers on their bills in August and September of each year, and to emissions-intensive trade-exposed customers on their August bills. For gas corporations, the bill requires the natural gas California Climate Credit to be provided to residential customers on their February bills, unless the Public Utilities Commission directs otherwise to address temporary or unforeseen circumstances. The bill builds upon the California Global Warming Solutions Act of 2006, which established a market-based system for regulating greenhouse gas emissions. It ensures that the revenues generated from these emissions allowances are directly credited back to customers, helping to offset potential increases in utility costs. The bill also specifies that the Public Utilities Commission can allocate up to 15% of these revenues to clean energy and energy efficiency projects. Additionally, the bill includes a provision that no state reimbursement is required for implementing these changes, as the act may create new regulatory requirements that could be considered a local mandate.

Agriculture and Natural Resources, Budget and Finance, Transportation and Infrastructure

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB729