CA SB1258

Establishes the Climate Catalyst Revolving Fund administered by the California Infrastructure and Economic Development Bank to provide low-interest financial assistance for climate catalyst projects that reduce greenhouse gas emissions.

Defines eligible climate catalyst projects to include energy efficiency, clean energy infrastructure, renewable energy, clean agriculture, low-carbon transportation, and land-based greenhouse gas sequestration.

Requires eligible projects to demonstrate greenhouse gas reduction potential, partnership with private financial institutions, job creation ability, technological viability, and the existence of a financing gap preventing implementation.

Mandates the bank prepare a three-year guiding document by January 1, 2022 outlining investment priorities and identifying gaps in existing financing markets that can be filled by the program.

Requires annual reporting to the Legislature beginning July 30, 2023 on program progress, investment performance, and coordination with other state incentive programs; continuously appropriates the fund for purposes of the program.