CA AB723

Extends the requirement for electrical corporations to collect a "public goods charge" (a separate rate component) from January 1, 2012 to January 1, 2020 to fund energy efficiency, renewable energy, and research/development programs.

Repeals the Electric Program Investment Charge (EPIC) Fund and redirects renewable energy revenues to the Renewable Resources Trust Fund for administration by the State Energy Resources Conservation and Development Commission (Energy Commission).

Establishes a Clean Energy Investment Program requiring the Energy Commission to develop annual investment plans, establish an advisory body, and submit reports to the Legislature detailing funding allocations and progress toward achieving California's renewable energy goals.

Directs funds from the Renewable Resources Trust Fund to support the New Solar Homes Partnership, grants to counties for renewable energy development, and grants to school districts for clean technology and renewable energy job training programs.

Takes effect immediately as an urgency statute, contingent on enactment of Senate Bill 870 by January 1, 2013.