CA AB 2463
enactedPublic Utilities Commission: rates: cost of capital proceeding: authorized return on equity.
California · 2025-2026 Regular Session · lower
Subscribe in a feed reader. The feed covers recorded actions from the last 30 days; Bill Commons may record an action after it happened at the legislature.
Quick answers
Did CA AB 2463 pass?
Yes. CA AB 2463 has been enacted into law. Latest recorded action (2026-09-30): Chaptered by Secretary of State - Chapter 943, Statutes of 2026.
What is CA AB 2463 about?
Existing law vests the Public Utilities Commission with regulatory authority over public utilities, including electrical corporations and gas corporations. Existing law authorizes the commission to fix the rates and charges for every public utility and requires that those rates and charges be just and reasonable. This bill would require the commission, in any proceeding in which the commission considers and determines the authorized return on equity for an electrical corporation or gas corporation, to be known as a cost of capital proceeding, that results in a decision issued on or after December 31, 2030, to include its own assessment of the proposals submitted by the parties and specified information, including, among other things, an identification of each financial model the commission relied upon in determining the authorized return on equity and an analysis of the relationship between the credit quality of the electrical corporation or gas corporation and the authorized return on equity. If, in any cost of capital proceeding, the commission adopts a methodology for determining the authorized return on equity that differs in any material respect from the methodology disclosed in the most recent prior decision in which the commission determined an authorized return on equity for the same electrical corporation or gas corporation, the bill would require the commission to identify each material departure from the prior methodology and provide a reasoned explanation for each material departure. Existing law requires the commission to develop, publish, and annually update a report containing specified information, including the commission's annual work plan and a summary of deenergization event trends, as specified. Existing law requires the commission to post the report in a conspicuous area of its internet website. This bill would require the commission to include the analysis of the trends in the California corporation credit ratings described above in that annual report to the Legislature, as provided. Under existing law, a violation of an order, decision, rule, direction, demand, or requirement of the commission is a crime. Because a violation of a commission action implementing this bill's requirements would be a crime, the bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
Who sponsors CA AB 2463?
Petrie-Norris is the primary sponsor of CA AB 2463.
Description
Existing law vests the Public Utilities Commission with regulatory authority over public utilities, including electrical corporations and gas corporations. Existing law authorizes the commission to fix the rates and charges for every public utility and requires that those rates and charges be just and reasonable. This bill would require the commission, in any proceeding in which the commission considers and determines the authorized return on equity for an electrical corporation or gas corporation, to be known as a cost of capital proceeding, that results in a decision issued on or after December 31, 2030, to include its own assessment of the proposals submitted by the parties and specified information, including, among other things, an identification of each financial model the commission relied upon in determining the authorized return on equity and an analysis of the relationship between the credit quality of the electrical corporation or gas corporation and the authorized return on equity. If, in any cost of capital proceeding, the commission adopts a methodology for determining the authorized return on equity that differs in any material respect from the methodology disclosed in the most recent prior decision in which the commission determined an authorized return on equity for the same electrical corporation or gas corporation, the bill would require the commission to identify each material departure from the prior methodology and provide a reasoned explanation for each material departure. Existing law requires the commission to develop, publish, and annually update a report containing specified information, including the commission's annual work plan and a summary of deenergization event trends, as specified. Existing law requires the commission to post the report in a conspicuous area of its internet website. This bill would require the commission to include the analysis of the trends in the California corporation credit ratings described above in that annual report to the Legislature, as provided. Under existing law, a violation of an order, decision, rule, direction, demand, or requirement of the commission is a crime. Because a violation of a commission action implementing this bill's requirements would be a crime, the bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
- Introduced
- 2026-03-26
- Latest action
- 2026-09-30 — Chaptered by Secretary of State - Chapter 943, Statutes of 2026.
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- Petrie-Norrisauthor
Committees
Not provided by source.
Action timeline
Newest first
2026-09-30
Chaptered by Secretary of State - Chapter 943, Statutes of 2026.
became-law
2026-09-30
Approved by the Governor.
executive-signature
2026-09-03
Enrolled and presented to the Governor at 4 p.m.
executive-receipt
2026-08-26
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 79. Noes 0.).
2026-08-26
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 79. Noes 0. Page 6583.).
amendment-passage,committee-passage,committee-passage-favorable
2026-08-25
In Assembly. Concurrence in Senate amendments pending.
2026-08-25
Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 0.).
passage,reading-1,reading-3
2026-08-17
Read second time. Ordered to third reading.
reading-1,reading-2,reading-3
2026-08-13
Read second time and amended. Ordered returned to second reading.
amendment-passage,reading-1,reading-2
2026-08-13
From committee: Amend, and do pass as amended. (Ayes 7. Noes 0.) (August 13).
amendment-introduction,amendment-passage,committee-passage
2026-08-03
In committee: Referred to APPR. suspense file.
referral-committee
2026-06-24
In committee: Set, first hearing. Hearing canceled at the request of author.
2026-06-16
From committee: Do pass and re-refer to Com. on APPR. (Ayes 17. Noes 0.) (June 16). Re-referred to Com. on APPR.
committee-passage,committee-passage-favorable,referral-committee
2026-06-03
Referred to Com. on E., U & C.
referral-committee
2026-05-27
In Senate. Read first time. To Com. on RLS. for assignment.
reading-1,referral-committee
2026-05-26
Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0.)
passage,reading-1,reading-3
2026-05-26
Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 5323.)
passage,reading-1,reading-3
2026-05-18
Read second time. Ordered to third reading.
reading-1,reading-2,reading-3
2026-05-14
From committee: Do pass. (Ayes 15. Noes 0.) (May 14).
committee-passage,committee-passage-favorable
2026-05-06
In committee: Set, first hearing. Referred to APPR. suspense file.
referral-committee
2026-04-14
Re-referred to Com. on APPR.
referral-committee
2026-04-13
Read second time and amended.
amendment-passage,reading-1,reading-2
2026-04-09
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 17. Noes 0.) (April 8).
amendment-introduction,amendment-passage,committee-passage,referral-committee
2026-04-06
Re-referred to Com. on U. & E.
referral-committee
2026-03-26
From committee chair, with author's amendments: Amend, and re-refer to Com. on U. & E. Read second time and amended.
amendment-introduction,amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2026-03-09
Referred to Com. on U. & E.
referral-committee
2026-02-21
From printer. May be heard in committee March 23.
2026-02-20
Read first time. To print.
reading-1
Versions
- 02/20/26 - Introduced — 2026-02-20Compare
- 03/26/26 - Amended Assembly — 2026-03-26Compare
- 04/13/26 - Amended Assembly — 2026-04-13Compare
- 08/13/26 - Amended Senate — 2026-08-13Compare
- 08/30/26 - Enrolled — 2026-08-30Compare
- 09/30/26 - Chaptered — 2026-09-30Compare
- (document, no version)Compare
- AB2463Compare
Documents
- application/pdf
- application/pdf
- application/pdf
- text/html
- application/pdf(no extracted text yet)
- application/pdf(no extracted text yet)
- application/pdf(no extracted text yet)
- application/pdf(no extracted text yet)
- application/pdf(no extracted text yet)
- application/pdf(no extracted text yet)
- application/pdf(no extracted text yet)
- application/pdf(no extracted text yet)
- application/pdf
- application/pdf
- application/pdf
Votes
Do pass as amended, and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar
2026-04-08 · pass · 17-0
Member-level votes (18)
- Harabedian: yes
- Schultz: yes
- Calderon: yes
- Patterson: yes
- Schiavo: yes
- Petrie-Norris: yes
- Wallis: yes
- Kalra: yes
- Papan: yes
- Zbur: yes
- Boerner: yes
- Davies: yes
- Irwin: yes
- Rogers: yes
- Ta: yes
- Mark González: yes
- Hart: yes
- Chen: other
Do pass.
2026-05-14 · pass · 15-0
Member-level votes (15)
- Dixon: yes
- Krell: yes
- Sharp-Collins: yes
- Tangipa: yes
- Wicks: yes
- Pacheco: yes
- Caloza: yes
- Ta: yes
- Fong: yes
- Calderon: yes
- Hoover: yes
- Pellerin: yes
- Solache: yes
- Aguiar-Curry: yes
- Mark González: yes
AB 2463 Petrie-Norris Assembly Third Reading
2026-05-26 · pass · 78-0
Member-level votes (80)
- Ellis: yes
- Wicks: yes
- Wilson: yes
- Stefani: yes
- Nguyen: yes
- Lee: yes
- Ramos: yes
- Zbur: yes
- Garcia: yes
- Alvarez: yes
- Lackey: yes
- Schultz: yes
- Sharp-Collins: yes
- Gallagher: yes
- McKinnor: yes
- Sanchez: yes
- Petrie-Norris: yes
- Dixon: yes
- Carrillo: yes
- Castillo: yes
- Fong: yes
- Kalra: yes
- Jackson: yes
- Papan: yes
- Michelle Rodriguez: yes
- Hadwick: yes
- Valencia: yes
- Gabriel: yes
- Haney: yes
- Chen: yes
- Mark González: yes
- Blanca Rubio: yes
- Berman: yes
- Bauer-Kahan: yes
- Ransom: yes
- Quirk-Silva: yes
- Calderon: yes
- Rogers: yes
- Macedo: yes
- Jeff Gonzalez: yes
- Patterson: yes
- Harabedian: yes
- Flora: yes
- Ortega: yes
- Arambula: yes
- Caloza: yes
- Bennett: yes
- Tangipa: yes
- Davies: yes
- Gipson: yes
- Lowenthal: yes
- Elhawary: yes
- Ward: yes
- Patel: yes
- Hart: yes
- Wallis: yes
- Ahrens: yes
- Alanis: yes
- Ta: yes
- Connolly: yes
- Soria: yes
- DeMaio: yes
- Johnson: yes
- Solache: yes
- Pacheco: yes
- Ávila Farías: yes
- Krell: yes
- Aguiar-Curry: yes
- Bonta: yes
- Bains: yes
- Hoover: yes
- Boerner: yes
- Irwin: yes
- Schiavo: yes
- Addis: yes
- Bryan: yes
- Rivas: yes
- Pellerin: yes
- Muratsuchi: other
- Celeste Rodriguez: other
Do pass, but first be re-referred to the Committee on [Appropriations]
2026-06-16 · pass · 17-0
Member-level votes (17)
- Archuleta: yes
- Allen: yes
- Arreguín: yes
- Wahab: yes
- Strickland: yes
- Gonzalez: yes
- Grove: yes
- Stern: yes
- Ochoa Bogh: yes
- Hurtado: yes
- Richardson: yes
- McNerney: yes
- Becker: yes
- Reyes: yes
- Caballero: yes
- Rubio: yes
- Niello: yes
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_api_sync, retrieved 2026-10-03T02:22:50.104344Z
Inspect retained evidence for changes recorded after evidence tracking began:
Session-wide evidence can include changes to other bills:
Use this data
Every field on this page is available from the free public API — no key or licence required. Fetch this bill as JSON: GET /api/v1/bills?jurisdiction=CA&identifier=AB 2463. See the API docs or the MCP server for AI assistants.
Known limitations
- Sponsor party and chamber affiliation are not yet captured by this API.
- Committee referrals are not yet captured.
- Some documents have no extracted text yet, so version comparison may be limited.
See the methodology page for data sources and limitations.