71157.
(a) The Adaptation through Resiliency, Resiliency through Adaptation, Economic Vitality, and Equity Account is hereby created in the State Treasury. Moneys in the account shall be available upon appropriation by the Legislature.(b) Moneys in the Adaptation through Resiliency, Resiliency through Adaptation, Economic Vitality, and
Equity Account shall be allocated to provide financial assistance in the form of grants and financing for climate resiliency and adaptation projects that achieve the recommendations and actions called for in the framework.
(c) The agency, in coordination with the Treasurer and the Director of State Planning and Research, shall develop grants and
financing to implement the recommendations and actions called for in the framework. framework prioritized to minimize financial risks and costs identified in the framework pursuant to subdivision (e) of Section 71153.5. To assist in the leveraging of public and private capital investment, the Treasurer, and the financing authorities that the Treasurer chairs, may assist in the development and administration of the financing programs called for in the framework. When developing and adopting the grants and financing programs guidelines and criteria, the agency shall also do all of the following:
(1) Leverage local, state, federal, and private funding sources to maximize the impact, including the ability to pool these moneys into the Adaptation through Resiliency, Resiliency through Adaptation, Economic Vitality, and Equity Account.
(2) Prioritize projects with multibenefits, including water supply and efficiency, natural infrastructure, economic development, habitat enhancement, and community revitalization.
(3) Maximize benefits to vulnerable communities.
(4) Seek to achieve a portfolio approach to funding that supports a diverse set of
projects.
(5) Provide technical assistance and capacity building support.
(6) Use regional collaboratives to guide projects.
(7) Support, when appropriate, projects and programs developed pursuant to this part and Part 4.5 (commencing with Section 71350) to Part 6 (commencing with Section 71420), inclusive.
(d) When allocating moneys in the Adaptation through Resiliency, Resiliency through Adaptation, Economic Vitality, and Equity Account for grants and loans consistent with this section, the
agency shall use the following schedule:
(1) At least 20 percent of the moneys shall be allocated to support low-income communities.
(2) At least 10 percent of the moneys shall be allocated consistent with the Integrated Climate Adaptation and Resiliency Program (Part 4.5 (commencing with Section 71350)).
(3) At least 5 percent of the moneys shall be allocated to support workforce training programs that prevent or restore fire-impacted watersheds.
(4) At least 20 percent of the moneys shall be allocated to support infrastructure and habitat enhancement projects that protect ocean and coastal resources.
(5) At least 10 percent of the moneys shall be allocated to the Wildlife Conservation Board and state conservancies for the purposes of climate resiliency projects.
(6) At least 1 percent of the moneys shall be allocated to the California Conservation Corps and certified community conservation corps.