Overview

• Cap-and-invest is extended to 2045 with designated spending, including $1 billion annually for high‑speed rail and larger California Climate Credit bill refunds.
• The package refills the state wildfire fund with $18 billion over a decade, splitting contributions between utility shareholders and ratepayers while limiting some wildfire costs passed to customers.
• Lawmakers approved a pathway to expedite new oil permits in Kern County to bolster in‑state fuel supply as refinery closures threaten near‑term gasoline availability.
• New statutes authorize California’s participation in a Western regional power market and set up public financing to accelerate transmission buildout and reduce customer costs.
• Environmental justice groups criticize the lack of stronger local pollution limits, Republicans warn of higher consumer costs, and a new fund expands air monitoring in disadvantaged communities.