BlackletterCalifornia law

DIVISION 1.7. Golden State Energy Act [3400. - 3558.]

Division 1.7 added by Stats. 2020, Ch. 27, Sec. 12.

§§ 3400–3558 · 26 sections

  1. PART 1. General Provisions §§ 3400–3418 · 12 sections
    1. CHAPTER 1. Preliminary Matters §§ 3400–3402 · 3 sections
      • § 3400 This division shall be known, and may be cited, as the Golden State Energy Act.
      • § 3401 (a) The Legislature finds and declares all of the following: (1) The safe, efficient, and reliable generation, procurement, transmission, distribution, and…
      • § 3402 It is the intent of the Legislature that all of the following occur if Golden State Energy commences energy operations: (a) The operation of Golden State…
    2. CHAPTER 2. Definitions §§ 3410–3418 · 9 sections
      • § 3410 Unless the context otherwise requires, the definitions set forth in this chapter govern the construction of this division.
      • § 3411 “Act” means the Golden State Energy Act.
      • § 3411.5 “Acquisition of Pacific Gas and Electric Company” means the acquisition of the property, as defined in Section 1235.170 of the Code of Civil Procedure,…
      • § 3412 “Board” means Golden State Energy’s board of directors described in Part 2 (commencing with Section 3420).
      • § 3412.5 “Decision 20-05-053” means Decision 20-05-053 (May 28, 2019) Decision Approving Reorganization Plan in Investigation 19-09-016 (September 26, 2019) Order…
      • § 3415 “Indebtedness” means bonds, notes, commercial paper, variable rate and variable maturity securities, other obligations, and any other evidences of indebtedness…
      • § 3416 “Pacific Gas and Electric Company” means Pacific Gas and Electric Company, PG&E Corporation, any subsidiary or affiliate of the foregoing holding any assets…
      • § 3417 “Pacific Gas and Electric Company’s service territory” means the boundaries and specifications of the company’s service territory on the date of the closing of…
      • § 3418 “Wildfire Fund” means the Wildfire Fund created pursuant to Section 3284.
  2. PART 2. Golden State Energy Board Governance § 3420 · 1 section
    • § 3420 (a) The Governor, or the Governor’s designee, may incorporate Golden State Energy as a nonprofit public benefit corporation pursuant to the Nonprofit Public…
  3. PART 3. Golden State Energy Regulation and Oversight §§ 3430–3435 · 5 sections
    • § 3430 (a) Except as otherwise provided in this division, the Nonprofit Public Benefit Corporation Law (Part 2 (commencing with Section 5110) of Division 2 of Title 1…
    • § 3432 (a) Golden State Energy shall be exempt from the Attorney General’s supervisory authority described in each of the following provisions: (1) Paragraph (5) of…
    • § 3433 A person who, pursuant to a specific provision of Golden State Energy’s articles or bylaws, has the right to vote for the election of a director, on a…
    • § 3434 (a) In addition to the purposes described in Section 817, Golden State Energy may issue debt to facilitate the acquisition of Pacific Gas and Electric Company…
    • § 3435 Until Golden State Energy adopts a plan to address organizational and governing issues related to safety that is approved by the commission, upon the…
  4. PART 4. GOLDEN STATE ENERGY FINANCING POWER §§ 3440–3446 · 4 sections
    • § 3440 (a) Golden State Energy shall be exempt from franchise and corporate income tax pursuant to Section 23701 of the Revenue and Taxation Code. Indebtedness issued…
    • § 3442 (a) Golden State Energy indebtedness shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof, or a pledge of…
    • § 3444 (a) Chapter 9 (commencing with Section 5700) of Division 6 of Title 1 of the Government Code shall not apply to any bonds or other forms of indebtedness issued…
    • § 3446 While any indebtedness issued by or on behalf of Golden State Energy remains outstanding, the State of California pledges to the holders of any such…
  5. PART 5. Other Matters §§ 3450–3558 · 4 sections
    • § 3450 The Legislature hereby ratifies and deems proper all acts by the Governor or the Governor’s designee before the effective date of this division taken in…
    • § 3452 This division, being necessary for the prosperity of the state and its residents, shall be liberally construed to effect its purposes.
    • § 3454 The acquisition of Pacific Gas and Electric Company by Golden State Energy, for any reason including pursuant to Section 713, shall not be subject to Sections…
    • § 3558 Nothing in this act shall be construed as diminishing or enlarging any valid existing rights under any license or franchise previously issued pursuant to…