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, and $100 million to the Grid Modernization Grant Fund. Additionally, $50 million is designated for the Transportation Project Fund to support projects that reduce reliance on combustion engine vehicles, and $5 million is appropriated to the State Supplemental Land and Water Conservation Fund for outdoor recreation initiatives.

Further appropriations include $40 million to the Energy, Minerals and Natural Resources Department for energy efficiency and renewable energy technology development, $25 million to the Workforce Solutions Department for training in non-extractive industries, and $60 million to the Public School Facilities Authority for electric vehicle infrastructure in school districts. Any unspent funds from these appropriations will revert back to the Community Benefit Fund at the end of fiscal year 2028. The bill's effective date is contingent on the establishment and funding of the Community Benefit Fund.