Summary:

 Senate Bill 48 (SB 48):  The bill proposes the creation of the "Community Benefit Fund" in the state treasury, which will be funded through various sources such as appropriations, donations, and income from investments.  

Legislation Overview:

 Senate Bill 48 (SB 48):  This proposed fund is to be administered by the Department of Finance and Administration, with the funds allocated by legislative appropriation for projects aimed at environmental and community improvement.

The bill outlines specific types of projects that can be funded, including those that reduce greenhouse gases, increase electric grid capacity, promote renewable energy, and expand electric vehicle infrastructure. It also supports efforts to mitigate climate change impacts on natural environments and public health, encourages economic development that lessens dependency on fossil fuels, and funds worker training in relevant new industries.

Additional provisions require community engagement and reporting. Projects must involve community meetings or negotiate benefits agreements with impacted communities. Furthermore, an annual report on project progress is mandated.

The bill also defines key terms related to its mandates, such as "climate change," "energy efficiency," "greenhouse gas," "grid modernization," and "renewable energy resource," providing a framework for what constitutes eligible projects and technologies.  Finally, the bill includes a financial provision transferring $340 million from the general fund to the newly created Community Benefit Fund to support the initiative.
 

Current Law:

 The proposed act is newly proposed legislation that would create the community benefit fund; making a transfer from the general fund to the community benefit fund. 

Amendments:

 Amended February 18, 2025 in SFC

SFCa/SB 48:  Summary of Proposed Amendments:  
1.	Removal of References to an “Existing” Data Tool “Used by the Federal Government”
On page 4, lines 8 and 9, language referring to “an existing” data tool “used by the federal government” is removed. As amended, the bill simply references “a data tool,” removing specificity about it being an existing tool or one used by the federal government.
2.	Inclusion of Tribal and Indigenous Data:
On page 4, line 13, the amendments add a requirement that the departments ensure data from tribal and indigenous communities are included in the data used by the newly specified data tool. 
This clarifies the bill’s commitment to incorporating diverse data sources in environmental or conservation-related decision-making.