State government.

The California Senate Committee on Budget and Fiscal Review proposes comprehensive changes to the state's consumer privacy enforcement framework and climate financing mechanisms through legislation that restructures the Consumer Privacy Fund and establishes new financial tools for climate initiatives.

The bill creates three distinct subfunds within the Consumer Privacy Fund to enhance enforcement and support privacy protection efforts. The Consumer Privacy Subfund and Attorney General Consumer Privacy Enforcement Subfund will each receive 95% of administrative fines and civil penalties from their respective enforcement actions, while 5% will flow to the Consumer Privacy Grant Subfund for privacy education and protection programs. The grant program activates once the subfund exceeds $300,000.

For climate initiatives, the legislation renames and revises the Climate Catalyst Revolving Fund Act to provide financial assistance for projects advancing California's climate goals. The Infrastructure and Economic Development Bank must adopt specific financing plans for different project categories, including forest biomass management, climate-smart agriculture, and clean energy transmission. The bank will prioritize disadvantaged communities and requires projects to meet labor standards including prevailing wages and apprenticeship utilization.

The bill also modifies state agency operations by requiring electronic submission of legislative reports and expanding the Department of General Services' authority to dispose of excess corrections department property. It adjusts various regulatory fees affecting financial institutions and broadens eligibility for the HOPE for Children Trust Account Program to include adults who qualified as minors due to losing a parent to COVID-19.