CA SB1233

Requires the High-Speed Rail Authority to transfer any unencumbered Greenhouse Gas Reduction Fund moneys to the State Energy Resources Conservation and Development Commission as a loan beginning January 1, 2021.

Establishes the Electrical Infrastructure Revolving Loan Fund in the State Treasury to receive transferred moneys for loans to electrical corporations.

Creates the Electrical Infrastructure Revolving Loan Program to provide loans to electrical corporations for activities that minimize wildfire risk from electrical lines and equipment or reduce the need for public safety power shutoffs.

Eligible activities include vegetation management, pole replacement, wire insulation, undergrounding of wires, and distribution system segmentation, with preference given to high fire-threat districts.

Requires repayment of loaned moneys with interest calculated at the rate earned by the Pooled Money Investment Fund.