CA AB2011

Establishes the CalConserve Water Conservation Retrofit Program within the Department of Water Resources, allocating up to $50,000,000 in water conservation funds to provide grants to local water agencies for water conservation revolving loan programs.

Requires local water agencies to provide a 30 percent cost share from nonstate sources and maintain minimum revolving loan program requirements established by the department.

Allows eligible retrofit projects to include voluntary landscape retrofits meeting state water efficient landscape ordinance standards, with loans repayable over 15 years or the useful life of equipment, whichever is shorter.

Sets loan interest rates at 50 percent of the average interest rate paid by the state on general obligation bonds issued in the prior calendar year, with local water agencies authorized to charge reasonable administration fees.

Becomes operative only if a general obligation bond act is approved by voters at a statewide general election and is repealed on January 1, 2015, unless extended by later legislation.