CA SB74

Establishes the Infrastructure Gap-Fund Program within the Office of Land Use and Climate Innovation to provide grants to local agencies (cities, counties, special districts) for infrastructure projects facing unforeseen cost overruns after construction has begun

Grants may cover up to 20% of a project's additional projected costs beyond the initial budget, including labor, materials, and permit expenses

Eligible infrastructure projects include broadband, fire stations, schools, health and safety improvements, and road projects that decrease vehicle miles traveled

Local agencies must have allocated existing local tax revenue for at least 45% of the initially budgeted total project cost to qualify for grant funding

Applicants must demonstrate challenges completing the project on time and on budget, and show how the project advances state and local goals; the program becomes operative on January 1, 2030