CA SB1299

Requires renewable energy credits to be created for electricity generated under PURPA contracts executed on or after January 1, 2017, with ownership by the eligible renewable energy resource owner unless otherwise agreed.

Prohibits the Public Utilities Commission from requiring generators to sell renewable energy credits to electrical corporations as a condition of entering into PURPA electricity purchase contracts.

Classifies electricity products and associated renewable energy credits sold to the same electrical corporation under two or more separate purchase contracts with identical start and end dates as bundled and meeting portfolio content category requirements.

Establishes that standard contract terms must include renewable energy credits associated with all electricity generation, with exceptions for PURPA contracts as specified in the bill.

Provides no state reimbursement is required because any costs incurred by local agencies or school districts result from creating a new crime or modifying criminal penalties under existing Public Utilities Act violations.