CA SB804

Expands the definition of "publicly owned utility" to include utilities providing generation, transmission, or distribution electrical service to retail customers, enabling them to access rate reduction bond financing.

Authorizes joint powers authorities to issue rate reduction bonds to finance or refinance utility projects for electrical service providers, with proceeds secured by utility project charges collected from customers.

Allows local agencies to include in financeable costs all or part of exit fees, cost responsibility charges, departing load fees, and similar charges imposed by electrical corporations from which utility projects are acquired.

Permits local agencies with 500,000+ retail customers or a population of 800,000+ with electrical service to make alternative "substantial benefits" determinations instead of proving rates will be lower with rate reduction bonds.

Sunsets the authority to issue rate reduction bonds under this section on December 31, 2026.