CA SB1078

Creates the Sea Level Rise Revolving Loan Pilot Program to provide low-interest loans to local jurisdictions for purchasing coastal properties vulnerable to sea level rise, prioritizing low-income communities, communities of color, and tribal communities.

Requires the Ocean Protection Council and State Coastal Conservancy to develop program guidelines and eligibility criteria within 12 months of receiving requests from at least three local jurisdictions.

Establishes the Sea Level Rise Revolving Loan Fund in the State Treasury, administered by the State Coastal Conservancy in consultation with the Ocean Protection Council, to disburse loans upon legislative appropriation.

Requires local jurisdictions applying for loans to submit vulnerable coastal property plans including acquisition timelines, lease agreements, management plans, property appraisals, and strategies for removing structures when no longer habitable.

Mandates the Conservancy and Council provide a report to the Legislature by January 1, 2028 evaluating program efficacy, including number of applicants, properties purchased, loan disbursements, and recommendations for improvement.