BILL ANALYSIS Ó
SENATE COMMITTEE ON APPROPRIATIONS
Senator Ricardo Lara, Chair
2015 - 2016 Regular Session
AB 693 (Eggman) - Multifamily Affordable Housing Renewables
Program.
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|Version: August 18, 2015 |Policy Vote: E., U., & C. 8 - 3 |
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|Urgency: No |Mandate: Yes |
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|Hearing Date: August 27, 2015 |Consultant: Marie Liu |
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*********** ANALYSIS ADDENDUM - SUSPENSE FILE ***********
The following information is revised to reflect amendments
adopted by the committee on August 27, 2015
Bill
Summary: This bill would create a program to provide monetary
assistance of qualifying solar energy systems that are installed
on qualified multifamily affordable housing properties.
Fiscal
Impact:
Ongoing costs of $558,000 from the Public Utilities
Reimbursement Account (special fund) for California Public
Utilities Commission (CPUC) to oversee the contract to
administer the program and to annually assess the success of
the program.
Cost pressures of up to $100 million annually (General Fund)
to fund the program after 2020 if no additional Cap-and-trade
AB 693 (Eggman) Page 1 of
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allocations are given to the electric utilities.
Unknown lost revenues to the state, as an electric ratepayer
(General Fund and various special funds), for reduced credits
from the sale of Cap-and-trade auction revenues allocated to
electrical corporations.
Author
Amendments:
Restrict the program to just solar energy systems
Continue funding for the program after 2020 only to the extent
that there is adequate interest and participation and there
are allocation revenues available
Clarifying and technical changes
Committee
Amendments: Clarify that all funds allocated to the program that
remain uncommitted after three years be credited to the
ratepayers and to clarify that tenants are beneficiaries but not
the program participants.
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