California Air Resources Board

Summary

Would have created the Sea Level Rise Revolving Loan Program (Program) within the California Infrastructure and Economic Development Bank (IBank) to provide low-interest loans to local jurisdictions for the purchase of coastal properties in their jurisdictions identified as vulnerable coastal property.  This bill would have also required the California Coastal Commission to determine criteria and guidelines for the identification of vulnerable coastal properties eligible for participation in the program by January 2022.  The bill would have authorized specified cities and counties to apply for, and be awarded, a low‑interest loan under the Program if the city or county develops and submits to the bank a vulnerable coastal property plan.  Remains in the Senate Rules Committee.

View full bill text here