SB 862 Summary

• Establishes multiple programs to reduce greenhouse gas emissions through the Greenhouse Gas Reduction Fund, including allocations for high-speed rail (25%), transit and housing (35%), and other clean energy initiatives

• Creates the CalRecycle Greenhouse Gas Reduction Revolving Loan Program with $10 million transferred from the Greenhouse Gas Reduction Fund to provide loans for organics processing and recyclable materials infrastructure

• Establishes the Energy Efficiency Retrofit State Revolving Fund for loans to state agencies for energy efficiency and renewable energy projects on state-owned buildings

• Authorizes the Department of Forestry and Fire Protection to provide grants for Program Timberland Environmental Impact Reports (PTEIRs) to help nonindustrial landowners improve carbon sequestration and reduce wildfire risk on timberlands

• Expands net energy metering eligibility to include the Department of Corrections and Rehabilitation facilities with renewable generation up to 8 megawatts (with wind export limited to 1.35 megawatts)