AB 1106 Summary

• Extends indefinitely the State Energy Resources Conservation and Development Commission's authorization to contract with the State Treasurer to expend funds through Treasurer-implemented programs, previously limited to January 1, 2012.

• Authorizes the Commission to contract with small business financial development corporations to expend funds through the Small Business Loan Guarantee Program for alternative fuel and vehicle technology projects.

• Adds homeowner plug-in electric vehicle charging station installation as an eligible funding category, with the Commission to establish criteria that maximize public benefit.

• All expenditures through Treasurer contracts or Small Business Loan Guarantee Program must remain consistent with the requirements of the Alternative and Renewable Fuel and Vehicle Technology Program.

• Takes effect immediately as an urgency statute to make additional funding sources available for small business financial development corporations.