Public utilities: energy: taxpayer funding: reporting.

Assembly Member Schiavo's utility transparency legislation establishes new reporting requirements for California investor-owned electrical and gas corporations that receive substantial taxpayer funding through federal infrastructure and clean energy programs. The measure requires utilities to file quarterly reports detailing any taxpayer-funded grants or loans exceeding $1 million, including comprehensive spending plans, project timelines, and calculations of ratepayer benefits.

Under the bill's provisions, the California Public Utilities Commission must ensure utilities promptly deliver financial benefits from taxpayer funding to ratepayers through adjusted revenue requirements and rates. The commission gains authority to impose penalties on utilities that fail to disclose relevant taxpayer funding when applying for ratepayer-funded projects. The commission must also submit annual legislative reports summarizing the number, sources, and dollar amounts of utility grants and loans, along with funded projects and documented customer savings.

The reporting framework applies to funds from the federal Infrastructure Investment and Jobs Act, Inflation Reduction Act, CHIPS and Science Act, and similar future state or federal programs. The requirements sunset on January 1, 2036, allowing for evaluation of the program's effectiveness over its initial decade of implementation.