BILL NUMBER: SB 1121	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator De León

                        FEBRUARY 19, 2014

   An act relating to the California Green Bank.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1121, as introduced, De León. The California Green Bank.
   Existing law establishes various programs throughout the state to
promote energy efficiency, reduce greenhouse gases, and encourage
private economic development.
   This bill would state the intent of the Legislature to enact
legislation that would establish the California Green Bank to
coordinate, align, and enhance the state's efforts to provide energy
finance programs for advanced energy technologies and projects
throughout the state.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  (a) It is the intent of the Legislature to enact
legislation that would establish the California Green Bank to
coordinate, align, and enhance the state's efforts to provide energy
finance programs for advanced energy technologies and projects
throughout the state by accomplishing all of the following:
   (1) Reducing rates and decreasing costs for California ratepayers
while expanding the accessibility and affordability of clean energy
for all Californians.
   (2) Increasing private investment in clean energy projects that
currently are not able to obtain financing in traditional capital
markets at a reasonable cost by providing a variety of financial
tools to stimulate private investment.
   (3) Achieving California's environmental and economic objectives
by reducing greenhouse gas emissions and increasing investments in
disadvantaged communities.
   (4) Facilitating efficient, low-cost private financing markets for
clean energy projects.
   (5) Supporting California's unique position as a worldwide leader
in clean energy innovation by helping to bring innovative
technologies to market.
    (b) It is the intent of the Legislature to enact legislation that
would establish a board of directors for the California Green Bank
to be composed of appointees by the Governor, the Legislature, the
Treasurer, the Department of Finance, the California Public Utilities
Commission, the California Energy Commission, and the California Air
Resources Board, who possess expertise in financing and green
investments. The legislation would further provide for the creation
of governing documents for the California Green Bank and the position
of an executive director to manage and conduct the business of the
California Green Bank, subject to the direction of its board.