CA AB1020

Requires investor-owned electrical and gas corporations to report quarterly on any federal or state taxpayer funding (grants, loans, bonds) of $1,000,000 or more they have applied for or received, including spending plans, project details, and expected ratepayer savings

Mandates utilities to disclose all relevant taxpayer funding of $1,000,000 or more in any application where they seek ratepayer funding, with the Public Utilities Commission authorized to impose penalties for non-compliance

Requires the commission to ensure utilities promptly deliver financial benefits from received taxpayer funding to ratepayers, including adjusting revenue requirements and rate applications to reflect cost savings

Directs the commission to submit annual reports to the Legislature summarizing each utility's taxpayer funding, including number and sources of grants/loans, amounts received, funded projects, and demonstrated ratepayer savings

Provisions apply to funds from the Infrastructure Investment and Jobs Act, Inflation Reduction Act, CHIPS and Science Act, and similar federal or state programs, with the bill set to be repealed on January 1, 2036