CA SB1535

Amends Section 38574 of the Health and Safety Code to prohibit the State Air Resources Board from imposing regulatory obligations on publicly owned water utilities for greenhouse gas emissions related to electricity imported for water distribution from out-of-state sources

Exception allows the prohibition to be waived if the State Air Resources Board allocates to publicly owned water utilities allowances, credits, or other forms of price mitigation received by publicly owned electric utilities

Declares the act an urgency statute to take effect immediately to prevent water rate increases associated with the 2012 allowance auction requirement for publicly owned water utilities

Removes previous requirement for the State Air Resources Board to conduct a study on water sector measures as alternatives to cap-and-trade regulation compliance obligations