CA SB125

Creates Lithium Subaccount within Salton Sea Restoration Fund and continuously appropriates revenues from lithium extraction excise tax for restoration projects, grants to disadvantaged communities, and operations/maintenance costs at the Salton Sea.

Imposes lithium extraction excise tax beginning January 1, 2023, at tiered rates ($400-$800 per metric ton of lithium carbonate equivalent) based on cumulative lifetime extraction, with tax revenues split 80% to counties and 20% to Lithium Subaccount.

Expands definition of "mining operation" to include extraction of minerals from geothermal brine and other brines, making such operations subject to existing gold and silver mining fees of $5 per ounce and $0.10 per ounce respectively.

Allows geothermal development revenues to be spent on lithium extraction from geothermal brines and related activities, and grants Natural Resources Agency authority to develop project solicitation guidelines before allocating Lithium Subaccount moneys.

Appropriates $5,000,000 from General Fund to County of Imperial for environmental impact reports, health assessments, community outreach, and ombudsperson activities related to geothermal energy development and lithium extraction.