This bill proposes the appropriation and transfer of funds from the newly established Community Benefit Fund, contingent upon its enactment during the first session of the fifty-seventh legislature. A total of $40 million is allocated to the Economic Development Department to promote economic diversification away from fossil fuels, while $20 million is transferred to the Community Energy Efficiency Development Block Grant Fund. Additionally, $100 million is designated for the Grid Modernization Grant Fund, and $50 million is allocated to the Transportation Project Fund to support projects that reduce reliance on combustion engine vehicles.

Further appropriations include $5 million to the State Supplemental Land and Water Conservation Fund, $40 million to the Energy, Minerals and Natural Resources Department for energy efficiency and renewable technology grants, and $25 million to the Workforce Solutions Department for training in non-extractive industries. Lastly, $60 million is transferred to the Public School Facilities Authority for electric vehicle infrastructure and the transition from diesel to electric school buses. Any unspent funds from these appropriations will revert back to the Community Benefit Fund at the end of fiscal year 2028.