CA AB2064

Increases advanced payment amounts to project proponents from the Department of Water Resources to $500,000 or 50% of grant award (whichever is less), eliminating the previous $1,000,000 grant award limit for eligibility.

Requires project proponents to submit a first one-half project accountability report upon completing the first half of their project, documenting objectives met and expenditure of advanced funds.

Authorizes the Department of Water Resources to provide payment for the remaining grant award within 60 days of receiving the first one-half report if project objectives are completed and funds were expended consistently with department guidelines.

Requires the department to withhold 10% of the total grant award as retention proceeds, which must be released fully upon verification of project completion.

Requires project proponents to submit a final project accountability report upon project completion; applies to integrated regional water management plan projects benefiting nonprofit organizations, disadvantaged communities, or projects that benefit disadvantaged communities.