CA SB1233

Authorizes joint powers authorities to provide funding for water customers to acquire, install, or repair water efficiency improvements, with repayment through an efficiency charge added to the customer's water bill.

Requires customers to enter into written agreements specifying repayment terms not exceeding the estimated useful life of the improvement, and mandates that payments be "bill neutral" (savings exceed the efficiency charge).

Allows authorities to issue bonds to fund the program and permits local agencies to pledge water enterprise revenue as security if efficiency charges are insufficient to cover bond payments.

Establishes that efficiency charges are voluntary and not subject to Proposition 13 (Articles XIII C and XIII D of the California Constitution) as they constitute a water service under existing law.

Requires the Department of Water Resources to provide ongoing oversight of efficiency improvement financing programs, including annual reporting on participating agencies, water savings achieved, financing amounts, and revenue collected.