CA SB1197

Establishes the Initiative to Advance Water Innovation and Drought Resiliency at the Office of Planning and Research to promote new water technologies and innovative approaches in the water sector.

Requires the office to complete specified actions by December 31, 2024, including establishing an interagency team, engaging stakeholders, reviewing regulations that inhibit innovation, and reviewing grant program opportunities for water agencies and agricultural entities to test new technologies.

Mandates the office submit a report to the Legislature by July 1, 2025, detailing actions taken and recommendations for further water innovation efforts, with the reporting requirement expiring July 1, 2029.

Creates the Water Innovation and Drought Resiliency Fund to provide appropriated moneys to state agencies for advancing water innovation and drought resilience.

Requires the Department of Finance to develop a standardized agreement allowing voluntary donations to the fund from individuals, educational institutions, government entities, corporations, and organizations.