Added by Stats. 2019, Ch. 79, Sec. 16. (AB 1054) Effective July 12, 2019.
(a)The fund shall be initially capitalized by a loan from the state’s Surplus Money Investment Fund pursuant to Section 3288.
(b)Proceeds of any bonds issued as provided in Division 28 (commencing with Section 80500) of the Water Code shall be used as provided in Section 80550 of the Water Code. Any proceeds from the bonds allocated to the fund shall be deposited into a segregated account within the fund.
(c)All of the following shall be deposited into the fund:
(1)Initial contributions from electrical corporations.
(2)Annual contributions from
electrical corporations.
(3)Revenue generated from the ratepayers of a participating regional electrical corporation by a charge authorized by the commission pursuant to subparagraph (B) of paragraph (1) of subdivision (a) of Section 3289 and remitted to the fund pursuant to Section 3291 or 3292, as applicable.
(4)Revenues generated from the ratepayers of each large electrical corporation by a charge authorized by the commission pursuant to subparagraph (A) of paragraph (1) of subdivision (a) of Section 3289 as provided in paragraph (4) of subdivision (b) of Section 80550.
(5)Proceeds of bonds allocated to the fund as provided in Section 80550 of the Water Code.
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