Overview

• The laws reauthorize California’s carbon program as cap-and-invest through 2045, directing revenues to climate, housing and transportation projects, including $1 billion per year for high‑speed rail.
• One measure approves a long-delayed environmental review to speed new oil wells in Kern County to support in‑state fuel supply.
• Another measure enables a Western regional electricity market by allowing California’s grid operator to coordinate power trading with neighboring states.
• The package replenishes the catastrophic wildfire liability fund with $18 billion split between ratepayers and investor‑owned utilities, and sets up public financing to lower transmission costs while limiting some wildfire mitigation charges to customers.
• Republicans warn the program will raise prices and environmental‑justice groups say local pollution concerns persist, while looming refinery closures that threaten fuel supplies remain unresolved.