(a) This chapter shall be known, and may be cited, as the Climate Catalyst Revolving Loan Fund Act of 2020.
(b) Notwithstanding any other provision of this division, this article does not apply to any other activities, powers, and duties of the Infrastructure and Economic Development Bank under this division.
(c) The bank shall administer the Climate Catalyst Revolving Loan Fund to provide financial assistance for climate catalyst projects, as defined in subdivision (b) of Section 63048.92.
(d) Financial assistance for climate catalyst projects through the Climate Catalyst Revolving Loan Fund Program shall be provided at low-interest rates and at low-cost as determined by the bank, to support the projects directly and to attract additional third-party capital.
(Added by Stats. 2020, Ch. 10, Sec. 2. (AB 78) Effective June 29, 2020.)