Info Alert – Legislature considering new gut-and-amend impacting ratepayers
BizFed’s Energy and Environment Committee recently reviewed AB 1659 (Bloom) – a bill that was gut-and-amended on Tuesday (8/25) and proposes to create a new $3 billion fund by expanding $0.96 volumetric surcharge on all California ratepayers.
BizFed does not have a formal position on this bill and cannot take one prior to the end of the legislative session on Monday, August 31st. However, given the nature of the bill and the timing, the committee thought it was important to inform BizFed members of the content.
AB 1054 (Holden, 2019) placed a $0.96 volumetric surcharge to pay for infrastructure improvements directly related to utility-caused wildfires until the year 2035. For some ratepayers, this surcharge ranged in the hundreds of thousands of dollars, but agreed to the rates because it was funding much needed infrastructure upgrades.
AB 1659 (Bloom) seeks to expand this surcharge until 2050 and direct the money instead to various issues including workforce development, the creation of career pathways, to the air resources board for greenhouse gas reduction programs, cooling centers, water infrastructure upgrades, and settlement of litigation with the Natural Resources Defense Council.
For more information regarding this bill, please review the CalChambers floor alert here.
Should this bill make it out of the legislature by the August 31st deadline, BizFed will be reviewing this legislation at our Advocacy Committee meeting on Thursday, September 3.
If you have any questions regarding this issue, please contact email@example.com.
Keeping you informed,
Founding CEO, BizFed