BILL NUMBER:  AB 1405
  VETOED	DATE: 09/30/2010




To the Members of the California State Assembly:

I am returning Assembly Bill 1405 without my signature.

This bill creates the California Climate Change Community Benefits
fund by requiring a minimum of 10% of revenues from the sale of
compliance instruments for market-based compliance mechanisms under
AB 32 to be deposited into the fund.

When the Legislature passed and I signed AB 32, we made a commitment
to California's disadvantaged communities that we would ensure that
the impacts of climate change and the impacts of reducing climate
change would not fall disproportionately on their communities.
Throughout the California Air Resources Board's (ARB) process, they
have kept this commitment in mind and have fashioned every aspect of
this program in a manner that attempts to lessen any disproportionate
impact on these communities.

I am confident ARB with keep on this path as they continue the
important work of fashioning market-based mechanisms that will reduce
the burden on California's business community while still achieving
our climate change reduction goals.

To that end, this bill is premature.  Unfortunately, the bill
proposes to spend money that does not currently exist and might not
ever exist in a fund controlled by the state of California.

Important work continues at ARB to determine the most effective and
least costly manner to implement AB 32.  I encourage the supporters
of this bill to work in earnest with ARB as they build this program.
There will be a time to have this discussion.  Unfortunately, now is
not that time.

For these reasons, I am unable to sign this bill.

Sincerely,



Arnold Schwarzenegger