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AB-1349 CalConserve Water Use Efficiency Revolving Fund.(2013-2014)

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CALIFORNIA LEGISLATURE— 2013–2014 REGULAR SESSION

Assembly Bill
No. 1349


Introduced by Assembly Member Gatto

February 22, 2013


An act to add Division 30 (commencing with Section 81000) to the Water Code, relating to water, and making an appropriation therefor.


LEGISLATIVE COUNSEL'S DIGEST


AB 1349, as introduced, Gatto. CalConserve Water Use Efficiency Revolving Fund.
The California Constitution requires the reasonable and beneficial use of water.
This bill would establish the CalConserve Water Use Efficiency Revolving Fund administered by the Department of Water Resources and would continuously appropriate moneys in the fund, without regard to fiscal year, to the department, for the purpose of water use efficiency projects. This bill would require moneys in the fund to be used for purposes that include, but are not limited to, at-or-below market interest rate loans and would permit the department to enter into agreements with local governments or investor-owned utilities that provide water or recycled water service to provide loans.
Vote: 2/3   Appropriation: YES   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Division 30 (commencing with Section 81000) is added to the Water Code, to read:

DIVISION 30. CalConserve Water Use Efficiency Revolving Loan Program

PART 1. General Provisions

81000.
 (a) It is the intent of the Legislature in establishing the CalConserve Water Use Efficiency Revolving Fund to create a sustainable funding source for water use efficiency projects.
(b) It is further the intent of the Legislature that the funds from the CalConserve Water Use Efficiency Revolving Fund be used for the following purposes:
(1) Reduce urban per capita water use.
(2) Improve agricultural water use efficiency.
(3) Increase use of recycled water.
(4) Reduce greenhouse gas emissions through water efficiency improvements.
(c) It is the intent of the Legislature that any public funds made available by this division to investor-owned utilities regulated by the Public Utilities Commission should be for the benefit of the ratepayers or the public and not the investors pursuant to oversight by the Public Utilities Commission.

81005.
 For purposes of this division, “fund” means the CalConserve Water Use Efficiency Revolving Fund established pursuant to Section 81020.

PART 2. CalConserve Water Use Efficiency Revolving Fund

81020.
 The CalConserve Water Use Efficiency Revolving Fund is hereby created in the State Treasury. Notwithstanding Section 13340 of the Government Code, all moneys in the fund are continuously appropriated, without regard to fiscal year, to the department for expenditure in accordance with this division. The department is the state agency responsible for administering the fund.

81025.
 The department may undertake any of the following:
(a) Provide for the deposit of any available and necessary moneys into the fund.
(b) Enter into agreements with local governments or investor-owned utilities that provide water or recycled water service to provide loans for the purposes described in subdivision (b) of Section 81000.
(c) Provide for appropriate audit, accounting, and fiscal management services, plans, and reports relative to the fund.
(d) Take additional incidental action as appropriate for the adequate administration and operation of the fund.

81030.
 Moneys in the fund shall be used for the following purposes:
(a) Loans that meet all of the following requirements:
(1) Are made at-or-below market interest rates.
(2) Require annual payments of principal and any interest, with repayment commencing not later than one year after loan funding and full amortization not later than 15 years after loan funding. Full amortization for loans to disadvantaged communities shall be not later than 20 years after loan funding.
(3) Require the loan recipient to establish an acceptable dedicated source of revenue for repayment of a loan.
(4) Contain other terms and conditions required by the department.
(b) As a source of revenue or security for the payment of principal and interest on revenue or general obligation bonds issued by the state, if the proceeds of the sale of those bonds will be deposited in the fund.
(c) To earn interest.
(d) For payment of the reasonable costs of administering the fund.

81035.
 Any repayment of fund moneys, including interest payments, and all interest earned on, or accruing to, any moneys in the fund, shall be deposited in the fund and shall be available for expenditure for the purposes and uses authorized by this division.

PART 3. Implementation

81040.
 Subject to all applicable constitutional restrictions, a local government may borrow money and incur indebtedness pursuant to this division.

81045.
 The department may adopt rules and regulations necessary or convenient to implement this division.