Overview

• Assembly Bill 1207 extends the state's cap-and-trade program through 2045, with companion bill SB 840 directing auction revenue, including $1 billion annually for high-speed rail and $1 billion for legislative allocations.
• SB 254 adds $18 billion to a Wildfire Fund Continuation Account for future events, with half funded by ratepayers, $3.9 billion paid upfront by participating utilities, and $300 million in yearly utility installments.
• SB 237 accelerates oil production in Kern County by legislatively approving environmental reviews for drilling, a measure long advanced by Sen. Shannon Grove.
• AB 825 establishes a pathway toward a Western regional power market, and CAISO said it will work with partners to enhance reliability and affordability across the grid.
• The package reflects a compromise shaped by high electricity and gasoline prices and refinery closures, drawing mixed reactions that include frustration from environmental justice advocates over local pollution concerns.