Gov. Newsom Signs Gas Price Gouging Law: “California Took on Big Oil and Won”
Following record gas price hikes and profits, Governor Newsom signed his special session bill to hold Big Oil accountable – the latest measure the Governor has taken to rein in the industry.
SACRAMENTO — Today, surrounded by legislators and community leaders in the rotunda of the California State Capitol, Gov. Gavin Newsom March 19 signed legislation to implement the strongest state-level oversight and accountability measures on Big Oil in the nation – bringing transparency to California’s oil and gas industry, shining new light on the corporations that have for decades operated in the shadows while ripping families off and raking in record profits.
It is the latest instance in which the Governor has successfully taken on the historically powerful industry for putting profits over people. Last year, Gov. Newsom signed legislation adding new reporting requirements to oil refiners, as well as a law protecting neighborhoods and schools from oil drilling.
Authored by Senator Nancy Skinner (D-Berkeley), co-sponsored by Attorney General Rob Bonta and approved by a supermajority in both the Senate and Assembly, SBx1-2 creates a dedicated, day-in and day-out, independent watchdog to root out price gouging by oil companies and authorizes the California Energy Commission or CEC to create a penalty to hold the industry accountable. The law will go into effect on June 26, the 91st day after the end of the special session.
When the law’s new transparency and oversight requirements go into effect at the end of June, the state will begin receiving more information than ever before, including last year when it appeared that oil producers suppressed supply to drive up prices and rake in record profits. Industry knows that the new independent watchdog division will be closely monitoring them and will refer any violation of law – including industry misconduct or market manipulation – to the Attorney General for prosecution.
$736 Million in Homekey Funds Now Available to Address Housing and Homelessness
- Homekey, a statewide effort led by Gov. Newsom to rapidly house individuals experiencing homelessness has created nearly 12,800 homes.
- Approximately $736 million in grant funding is available to cities, counties, and other local public entities.
SACRAMENTO — Gov. Gavin Newsom March 29 announced the availability of approximately $736 million in Homekey funding for local governments to build or purchase housing for individuals experiencing homelessness.
To date, Homekey has created 12,774 permanent and interim homes through 210 projects across the state. This additional Homekey investment provides an opportunity to extend and scale up efforts to swiftly expand and sustain housing.
Homekey is a proven model for state, regional, and local public entities to acquire, develop, and rehabilitate a broad range of housing types, including but not limited to hotels, motels, hostels, single-family homes, multifamily apartments, adult residential facilities and manufactured housing, and to convert commercial properties and other existing buildings to permanent or interim housing for those most in need.
Administered by the California Department of Housing and Community Development or HCD, approximately $736 million in grant funding is available to cities, counties, or other local public entities, such as housing authorities or federally and non-federally recognized Indian tribes within California. Funds are available as part of Homekey grants, Round 3, Notice of Funding Availability or NOFA.
Due to the previous oversubscription of Homekey, eligible applicants are encouraged to submit their completed application as soon as possible. HCD will accept applications on a continuous, over-the-counter basis from the release of the Homekey NOFA through July 28, 2023, or until the available funds are exhausted, whichever occurs first.
Details: https://www.hcd.ca.gov.