CA SB884

Establishes an expedited utility distribution infrastructure undergrounding program administered by the Public Utilities Commission, limited to large electrical corporations with 250,000 or more customer accounts.

Requires participating corporations to submit 10-year undergrounding plans to the Office of Energy Infrastructure Safety for approval within 9 months, with plans limited to projects in tier 2 or 3 high fire-threat districts or rebuild areas.

Mandates commission approval of cost recovery within 9 months of plan submission, with consideration of cost targets that reflect feasible reductions compared to historical undergrounding costs.

Requires approved corporations to file semi-annual progress reports, hire independent monitors to assess compliance, and apply for federal and state funding to reduce ratepayer costs throughout the plan period.

Authorizes the commission to assess penalties on corporations that fail to substantially comply with approved plans.