Section 384 Of Article 7. Research, Environmental, And Low-income Funds From California Public Utilities Code >> Division 1. >> Part 1. >> Chapter 2.3. >> Article 7.
384
. (a) Funds transferred to the State Energy Resources
Conservation and Development Commission pursuant to this article for
purposes of public interest research, development, and demonstration
shall be transferred to the Public Interest Research, Development,
and Demonstration Fund, which is hereby created in the State
Treasury. The fund is a trust fund and shall contain money from all
interest, repayments, disencumbrances, royalties, and any other
proceeds appropriated, transferred, or otherwise received for
purposes pertaining to public interest research, development, and
demonstration. Any appropriations that are made from the fund shall
have an encumbrance period of not longer than two years, and a
liquidation period of not longer than four years.
(b) Funds deposited in the Public Interest Research, Development,
and Demonstration Fund may be expended for projects that serve the
energy needs of both stationary and transportation purposes if the
research provides an electricity ratepayer benefit.
(c) The State Energy Resources Conservation and Development
Commission shall report annually to the appropriate budget committees
of the Legislature on any encumbrances or liquidations that are
outstanding at the time the commission's budget is submitted to the
Legislature for review.