CA SB1293

Creates the Sea Level Rise Revolving Loan Program within the California Infrastructure and Economic Development Bank to provide low-interest loans to local jurisdictions for purchasing coastal properties vulnerable to sea level rise.

Requires the California Coastal Conservancy, in consultation with the California Coastal Commission and State Lands Commission, to establish criteria and guidelines for identifying vulnerable coastal properties by January 1, 2022.

Establishes the Sea Level Rise Revolving Loan Account within the California Infrastructure and Economic Development Bank Fund as a continuously appropriated fund, authorized to issue bonds with revenues deposited in the account.

Requires local jurisdictions to develop and submit a vulnerable coastal property plan approved by the California Coastal Conservancy to be eligible for loans, including acquisition process, lease agreement, and management plan details.

Prohibits local jurisdictions from using eminent domain to acquire vulnerable coastal properties and requires loan repayments, fees, and penalties to be deposited back into the revolving account.