BILL NUMBER: SB 363INTRODUCED BILL TEXT INTRODUCED BY Senator Hancock FEBRUARY 25, 2009 An act relating to utility rates. LEGISLATIVE COUNSEL'S DIGEST SB 363, as introduced, Hancock. Utility rates: schools. Existing law establishes the Ratepayer Relief Fund in the State Treasury to benefit electricity and natural gas ratepayers and to fund investigation and litigation costs of the state in pursuing allegations of overcharges and unfair business practices against generators, suppliers, or marketers of electricity or natural gas. Existing law requires that any energy settlement agreement, as defined, entered into by the Attorney General, after reimbursing the Attorney General's litigation and investigation expenses, direct settlement funds to the following purposes in priority order: (1) to reduce ratepayer costs of those utility ratepayers harmed by the actions of the settling parties, and (2) for deposit in the Ratepayer Relief Fund. Existing law authorizes the moneys deposited in the Ratepayer Relief Fund to be appropriated for certain purposes for the benefit of ratepayers. This bill would state the intent of the Legislature to direct moneys and interest generated by an energy settlement agreement with The Williams Companies, Inc. and Williams Energy Marketing & Trading Company, received for energy efficiency retrofit of schools and public buildings, to supplement existing electrical utility rebates available to school districts to make the effective rebate $5 per watt. 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) "Williams Settlement Funds" means any moneys obtained, and any interest generated by the moneys, through the settlement of litigation with The Williams Companies, Inc. and Williams Energy Marketing & Trading Company, made and entered into as of November 11, 2002, and received for energy efficiency retrofit of schools and public buildings. (b) Notwithstanding Section 16428.3 of the Government Code, it is the intent of the Legislature to enact legislation to direct Williams Settlement Funds to supplement existing electrical utility rebates available to school districts to make the effective rebate five dollars ($5) per watt.