CA SB1207

Extends the State Energy Resources Conservation and Development Commission's authority to administer the State Energy Conservation Assistance Account through January 1, 2028 (previously set to expire January 1, 2018)

Authorizes the commission to borrow money from the California Infrastructure and Economic Development Bank and other financing authorities to provide energy conservation grants and loans to schools, hospitals, public care institutions, and local governments

Allows the commission to pledge loans and loan payments as collateral to secure repayment of bonds or other borrowings by the California Infrastructure and Economic Development Bank

Permits the commission to enter into pledge agreements establishing terms and conditions for pledging loans as collateral and allowing bond trustees or escrow agents to hold loans and receive payments

Outstanding loans remain repayable on a semiannual basis after January 1, 2028; unexpended funds revert to the General Fund unless required for bond obligations or federal American Recovery and Reinvestment Act funds