Cal. Government Code § 12100.111

(a) The Transmission Infrastructure Accelerator established pursuant to Section 12100.110 shall coordinate, as soon as practicable after the effective date of this section but no later than December 31, 2026, the state’s ongoing activities related to transmission planning and development, in order to minimize duplicative efforts and efficiently achieve the objectives of this section and Article 10.5 (commencing with Section 63049.71) of Chapter 2 of Division 1 of Title 6.7. The accelerator shall sequence its activities in identifying and developing eligible transmission projects in a manner consistent with the state’s transmission planning processes, including, but not limited to, the Independent System Operator’s procedures and requirements and shall provide maximum transparency. Core objectives of the accelerator shall be to drive efficiencies in state transmission development efforts, coordinate existing workstreams to maximize effectiveness, and minimize duplicative activity across all relevant venues. (b) (1) The accelerator shall develop program guidelines by December 31, 2027, and shall update those guidelines, when necessary, as determined by the accelerator parties. (2) The accelerator shall share with the California Infrastructure and Economic Development Bank’s board for approval the sections of the accelerator program guidelines that identify potential requirements for how the bank will administer financing from the California Transmission Accelerator Revolving Fund established under Article 10.5 (commencing with Section 63049.71) of Chapter 2 of Division 1 of Title 6.7. (c) The accelerator shall evaluate the draft results of the Independent System Operator’s transmission planning process. (d) The accelerator may select, upon the release of the Independent System Operator’s approved transmission planning process, one or more eligible transmission projects that may have the opportunity to receive public financing using the California Transmission Accelerator Revolving Fund established under Article 10.5 (commencing with Section 63049.71) of Chapter 2 of Division 1 of Title 6.7. (e) The accelerator shall ensure that the selected transmission projects eligible for public financing meet the following criteria: (1) Have at least one interconnection point within the Independent System Operator balancing authority area. (2) Support new high voltage transmission facilities that are subject to the competitive solicitation process administered by the Independent System Operator that are consistent with the state’s reliability and greenhouse gas policy objectives. (3) Other considerations, as determined by the accelerator. (f) The accelerator shall ensure that the project sponsor seeking financing through the California Transmission Accelerator Revolving Fund for the selected transmission project meet the following criteria: (1) The project sponsor or its affiliates have completed or been awarded a transmission project in the state or have completed a transmission project in another state. (2) The project sponsor reduces its Federal Energy Regulatory Commission cost recovery requests by the amount of savings achieved through tax credits received under Sections 17039 and 23036 of the Revenue and Taxation Code. (3) The project sponsor complies with Section 94510 of the Public Resources Code. (4) The project sponsor commits to requesting a revenue requirement at the Federal Energy Regulatory Commission that reflects only its actual capital structure and for the portion of the project financed through the fund the actual cost of capital associated with this portion in order to minimize the costs collected through the transmission access charge. (5) The project sponsor complies with other financial considerations determined by the accelerator. (6) The project sponsor maximizes savings to ratepayers, as determined by the accelerator and its coordinating entities. (g) The accelerator shall prioritize project sponsors with involvement from public and private participating parties. (h) (1) The California Infrastructure and Economic Development Bank shall, at the direction of the accelerator, confer with project sponsors and develop financing plans for the eligible transmission project or projects. Each entity named in subdivision (h) of Section 12100.110, other than the bank, may submit a letter to be included in the financing plan or plans discussing areas of support and any areas of disagreement with the financial assistance proposal or proposals, if any. (2) The financing plan or plans, together with any letters described in paragraph (1), shall be presented to the bank’s board for consideration and adoption by majority vote. (i) The accelerator shall maintain a list of public entities interested in participating in eligible transmission projects. (j) The accelerator shall continuously monitor project development performance and engage to support effective implementation using all appropriate powers and authorities available to the accelerator and coordinating agencies. These actions may include, but are not limited to, all of the following: (1) Engaging local public and private actors relevant to project development success. (2) Supporting efforts of the project applicant to secure necessary permits and other relevant authorities. (3) Leveraging state incentives and supply chain facilitation services to ensure timely and cost-effective acquisition of physical components of the project. (k) (1) Subject to paragraph (2), for purposes of this section, the definitions in Section 63010 shall apply. (2) If a term is defined in both Sections 63010 and 63049.71, the definition in Section 63049.71 shall apply.