BILL NUMBER: AB 1375	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Chau

                        FEBRUARY 22, 2013

   An act relating to greenhouse gases.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1375, as introduced, Chau. California Global Warming Solutions
Act of 2006: market-based compliance mechanisms: Clean Technology
Investment 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. Existing law
requires the Department of Finance, in consultation with the state
board and any other relevant state agency, to develop, as specified,
a 3-year investment plan for the moneys deposited in the Greenhouse
Gas Reduction Fund.
   This bill would state the intent of the Legislature to enact
subsequent legislation to establish the Clean Technology Investment
Fund that would consist of public moneys from the auction or sale of
allowances as part of a market-based compliance mechanism with
matching moneys from private investment sources and would be used to
facilitate economic, environmental, and public health benefits
through the funding of research, development, and the deployment of
innovative technologies while creating jobs, reducing greenhouse gas
emissions, and increasing the state tax base.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  It is the intent of the Legislature to enact subsequent
legislation to establish the Clean Technology Investment Fund that
would consist of public moneys from the auction or sale of allowances
as part of a market-based compliance mechanism that might be adopted
by the State Air Resources Board with matching moneys from private
investment sources and would be used to facilitate economic,
environmental, and public health benefits through the funding of
research, development, and the deployment of innovative technologies
while creating jobs, reducing greenhouse gas emissions, and
increasing the state tax base.