State Budget Update
The State is projecting record-high reserves of $37.8 billion. The budget must be adopted by the legislature and sent to the governor by June 15. Continued negotiations are occurring on energy trailer bills. Infrastructure investments include funding for long-duration storage, electric vehicles, micro-grids, and more. The Energy Trailer Bill includes an additional $1.2 billion in funding for the California Arrearage Payment Program, continued assistance for utility customers to help reduce past-due energy bill balances.
Additionally, there is a $21 billion Climate Package that is subject to ongoing negotiations but if passed is expected to include water-drought resilience, wildfire resilience, extreme heat, zero-emission vehicles, and other climate-related actions.