26140-26141
PUBLIC RESOURCES CODE
SECTION 26140-26141
26140. (a) Until January 1, 2015, an amount of up to fifty million dollars ($50,000,000) from the Renewable Resource Trust Fund, established pursuant to Section 25751, is hereby appropriated to the authority for the purposes of this division. The moneys appropriated shall remain in the Renewable Resource Trust Fund until the funds are needed by the authority pursuant to this division. (b) Of the moneys appropriated in subdivision (a), up to three hundred thousand dollars ($300,000) may be expended by the authority for the initial administrative costs in implementing this division. (c) All repayments of moneys disbursed pursuant to this division shall be deposited into the Renewable Resource Trust Fund. 26141. (a) On March 31, 2011, and annually thereafter, the authority shall submit to the Legislature a report pursuant to Section 9795 of the Government Code on all of the following: (1) The status of the account. (2) A summary of the PACE bonds that received assistance pursuant to this division. (3) A summary of the benefits provided by this division, including reduced interest rates on the PACE bonds receiving assistance pursuant to this division. (4) The number of jobs created by the PACE programs that received assistance pursuant to this division. (5) Information on energy and water savings resulting from the PACE programs that received assistance pursuant to this division. (6) Other information deemed appropriate by the authority. (b) This section shall remain in effect only until January 1, 2015, and as of that date is repealed, unless a later enacted statute, that is enacted before January 1, 2015, deletes or extends that date.