California 2019-2020 Regular Session

California Assembly Bill AB383

Introduced
2/5/19  
Introduced
2/5/19  
Refer
2/28/19  
Refer
2/28/19  
Report Pass
3/27/19  
Report Pass
3/27/19  
Refer
4/1/19  
Report Pass
4/11/19  
Report Pass
4/11/19  
Refer
4/22/19  
Refer
4/24/19  
Refer
4/24/19  
Failed
2/3/20  

Caption

Clean Energy Financing Clearinghouse.

Impact

In terms of state laws, AB 383 establishes a cohesive framework for managing public funding towards clean energy technologies. With California's established goals to reduce greenhouse gas emissions and promote renewable energy, the creation of the Clean Energy Financing Clearinghouse will focus on efficient resource allocation and coordination among existing programs. This is particularly important in addressing the needs of low-income and disadvantaged communities, which are disproportionately affected by environmental issues. The bill emphasizes that investment capital will primarily be sourced from private sectors, with public resources acting as a catalyst.

Summary

Assembly Bill 383 establishes the Clean Energy Financing Clearinghouse in California as a means to streamline and enhance the investment in clean energy technologies that promote environmental protection. This new office, under the direction of the Treasurer, aims to coordinate government programs that invest in energy technologies, ensuring that relevant information is accessible for market participants and fostering partnerships between capital providers, investors, and project developers. The goal is to catalyze greater private investment in these technologies to meet the state's ambitious climate goals and enhance environmental justice.

Sentiment

The sentiment surrounding AB 383 is largely positive, as it reflects California's commitment to both environmental sustainability and social equity. Supporters view the establishment of the Clearinghouse as a proactive approach to tackle climate change through enhanced investment strategies. They appreciate the emphasis on aiding disadvantaged communities and the promise of streamlined access to funding. However, concerns were raised regarding the effectiveness of implemented funding strategies and whether they will genuinely translate into meaningful advancements for the communities intended to benefit from them.

Contention

Notable points of contention regarding AB 383 stem from the complexities involved in coordinating between various agencies and ensuring that funding reaches the communities that need it most. Critics are cautious about the efficacy of such centralized coordination, fearing it may result in bureaucratic delays or failures to address localized needs adequately. Additionally, there are ongoing discussions about the balance between public investment and reliance on private sector activities, reflecting a broader debate about the role of government in facilitating economic growth while striving for environmental objectives.

Companion Bills

No companion bills found.

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