CHAPTER 11. California Financial Assurance and Insurance for Redevelopment Program

Chapter 11 added by Stats. 2022, Ch. 257, Sec. 2.

§§ 80680–80870 · 30 sections

1. ARTICLE 1. Definitions §§ 80680–80735 · 12 sections

   • § 80680 For purposes of this chapter, the definitions contained in this article shall apply.
   • § 80685 “CLEAN Program” means the Cleanup Loans and Environmental Assistance to Neighborhoods Program established pursuant to Section 80450.
   • § 80690 (a) “Cost overrun insurance” means insurance that covers some, or all, of the response costs caused by a known pollution condition at a site, that exceed the…
   • § 80695 “Eligible property” has the same meaning as defined in subdivision (a) of Section 80230.
   • § 80700 “Environmental insurance” means insurance intended to limit the liability associated with the discovery and cleanup of a hazardous material release, including…
   • § 80705 “Estimated response action costs” means the projected costs of taking a response action in implementing an approved removal action work plan or remedial action…
   • § 80710 “Hazardous material” means a substance or waste that, because of its physical, chemical, or other characteristics, may pose a risk of endangering human health…
   • § 80715 “Insurance company” means an insurance company authorized in California to offer environmental insurance and that has an A.M. Best Financial Strength Rating of…
   • § 80720 “Pollution condition” means a release or threatened release of a hazardous material and any resulting impact upon the environment.
   • § 80725 (a) “Pollution liability insurance” means insurance that covers damages caused by a pollution condition from, or at, a site that is preexisting and unknown, or…
   • § 80730 “Secured creditor insurance” means insurance made available to an insured that covers all of the following: (a) Response costs at a site incurred by the lender…
   • § 80735 “Self-insured retention amount” means response action costs in excess of the estimated response action costs that have been accepted and approved by the…
2. ARTICLE 2. Environmental Insurance Products §§ 80750–80780 · 7 sections

   • § 80750 (a) The secretary shall solicit proposals for a package of environmental insurance products from insurance companies through a competitive bidding process. (b)…
   • § 80755 The secretary shall evaluate the extent to which each proposal submitted pursuant to Section 80750 meets the objectives of the request for proposal and shall…
   • § 80760 (a) The secretary shall select one or more insurance companies that have submitted a proposal pursuant to Section 80750 to be the exclusive state-designated…
   • § 80765 Every three years, the secretary shall repeat the competitive bidding process specified in this article.
   • § 80770 (a) An insurance company selected to provide prenegotiated environmental insurance products pursuant to Section 80760 shall offer this prenegotiated package of…
   • § 80775 The secretary shall implement this article in consultation with representatives of other appropriate state agencies, including the Business, Transportation and…
   • § 80780 The secretary shall implement this article in a manner that is consistent with the requirements for state procurement of services set forth in Article 4…
3. ARTICLE 3. Subsidies §§ 80800–80825 · 6 sections

   • § 80800 The secretary shall expend the funds from the Cleanup Loans and Environmental Assistance to Neighborhoods Account established pursuant to Section 80350 that…
   • § 80805 The secretary shall provide the following subsidies, in accordance with the application process specified in this article, from the funds made available…
   • § 80810 (a) Any person who is conducting a response action at an eligible property under the oversight of the department or a regional board and who purchases the…
   • § 80815 An applicant for a subsidy made available pursuant to this article shall provide the secretary with all information necessary to demonstrate to the secretary…
   • § 80820 The state and the Cleanup Loans and Environmental Assistance to Neighborhoods Account do not have any obligation to provide funds to any person that applies…
   • § 80825 The secretary shall provide an applicant with a subsidy only to the extent that money in the Cleanup Loans and Environmental Assistance to Neighborhoods…
4. ARTICLE 4. Liability §§ 80840–80855 · 4 sections

   • § 80840 Notwithstanding any other provision of law, the agency, the secretary, the state, their respective employees and agents, and any of the state’s other political…
   • § 80845 The immunity from liability set forth in Section 80840 specifically includes, but is not limited to, immunity if an insurance company selected to provide…
   • § 80850 The immunity set forth in this article is in addition to other immunities and defenses otherwise available to the agency, the secretary, the state, their…
   • § 80855 In implementing this chapter, the agency, the secretary, the state, their respective employees and agents, and any of the state’s other political subdivisions…
5. ARTICLE 5. Regulations § 80870 · 1 section

   • § 80870 (a) The agency may adopt regulations to implement this chapter pursuant to this section. (b) (1) The regulations adopted to implement this chapter shall be…