CA AB78

Creates the Climate Catalyst Revolving Loan Fund Act of 2020, establishing a new revolving loan fund within the State Treasury to provide financial assistance for climate catalyst projects that further California's climate goals and implement low-carbon technology.

Authorizes the Infrastructure and Economic Development Bank to administer the fund and provide low-interest financing directly to eligible sponsors, participating parties, or lending institutions for projects consistent with California's climate mitigation and resilience priorities.

Defines "climate catalyst projects" as buildings, structures, equipment, infrastructure, or other improvements within California that reduce greenhouse gas emissions, reduce climate risk, or implement low-carbon technology, and includes federally recognized Native American tribes as eligible participants.

Requires the Strategic Growth Council to advise the Legislature annually on potential climate catalyst project categories aligned with state climate priorities and mandates the bank to submit annual reports on fund activity, including project details, jobs created, and recommendations for improvements.

Increases the total allowable outstanding bonds (rate reduction bonds and public development facility bonds) from separate limits of $5 billion and $10 billion to a combined limit of $15 billion and authorizes the bank to establish additional small business finance programs directly or through partnerships.