AB 26, as introduced, Bonilla. California Global Warming Solutions Act of 2006: Greenhouse Gas Reduction Fund.
The California Global Warming Solutions Act of 2006 designates the State Air Resources Board as the state agency charged with monitoring and regulating sources of emissions of greenhouse gases. The act authorizes the state board to include use of market-based compliance mechanisms. Existing law requires all moneys, except for fines and penalties, collected by the state board from the auction or sale of allowances as part of a market-based compliance mechanism to be deposited in the Greenhouse Gas Reduction Fund and to be available upon appropriation by the Legislature.
This bill would make a technical, nonsubstantive change to this provision.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 16428.8 of the Government Code is
2amended to read:
(a) The Greenhouse Gas Reduction Fund, hereafter
2referred to in this article as the fund, is hereby created as a special
3fund in the State Treasury.
4(b) Except for fines and penalties, all moneys collected by the
5State Air Resources Board from the auction or sale of allowances,
6pursuant to a market-based compliance mechanism established
7pursuant to Division 25.5 (commencing with Section 38500) of
8the Health and Safety Code and specified in Sections 95800 to
996022, inclusive, of Title 17 of the California Code of Regulations,
10shall be deposited in the fund andbegin insert shall beend insert available for
11appropriation by the Legislature.
12(c) All moneys deposited in the fund shall be appropriated and
13shall be separately identified in the annual Budget Act. No moneys
14from the General Fund or any other fund shall be deposited in the
15fund.
16(d) Notwithstanding any other law, the Controller may use the
17moneys in the fund for cash flow loans to the General Fund as
18provided in Sections 16310 and 16381.
19(e) Any technical amendments made by the State Air Resources
20Board to the regulations established under Sections 95800 to 96022,
21inclusive, of Title 17 of the California Code of Regulations to
22conform that regulation to this article shall be exempt from the
23provisions of the Administrative Procedure Act (Chapter 3.5
24(commencing with Section 11340) of Part 1 of Division 3) and
25from the review and approval of the Office of Administrative
Law.
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