California Public Utilities Code

§ 281.2

PUC § 281.2 Effective Jul 20, 2021Div. 1 · Part 1 · Ch. 1.5

Statute text

(a)(1) The Broadband Loan Loss Reserve Fund is hereby established in the State Treasury. Notwithstanding Section 13340 of the Government Code, moneys in the fund are hereby continuously appropriated, without regard to fiscal years, to the commission and shall be available to fund costs related to the financing of the deployment of broadband infrastructure by a local government agency or nonprofit organization, including, but not limited to, payment of costs of debt issuance, obtaining credit enhancement, and establishment and funding of reserves for the payment of principal and interest on the debt.

(2)In the 2021–22 fiscal year, the commission may make cashflow loans to the Broadband Loan Loss Reserve Fund from accounts established pursuant to subdivision (c) of Section 281.

(b)The commission may establish, among other things, eligibility requirements, financing terms and conditions, and allocation criteria, for infrastructure projects deployed using financing supported in whole or in part by funds allocated pursuant to this section.

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Legislative history

Added by Stats. 2021, Ch. 112, Sec. 8. (SB 156) Effective July 20, 2021.