Amended in Assembly March 21, 2013

California Legislature—2013–14 Regular Session

Assembly Bill No. 1375

Introduced by Assembly Member Chau

February 22, 2013

An act begin insert to add Section 16428.96 to the Government Code, end insert relating to greenhouse gases.

LEGISLATIVE COUNSEL’S DIGEST

AB 1375, as amended, Chau. California Global Warming Solutions Act of 2006: market-based compliance mechanisms: Clean Technology Investment begin delete Fund. end delete begin insert Account. end insert

The California Global Warming Solutions Act of 2006 begin insert , hereafter the Global Warming Solutions Act, end insert 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 begin insert . That law permits money from the fund be allocated for research, development, and deployment of innovative technologies, measures, and practices related to programs and projects funded under the Global Warming Solutions Act. That law also prohibits the state from using moneys in the fund unless the state determines that the use of the moneys furthers the regulatory purposes of the Global Warming Solutions Act end insert .

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This bill would create the Clean Technology Investment Account within the Greenhouse Gas Reduction Fund and would require the Legislature to annually appropriate money from the Greenhouse Gas Reduction Fund into the Clean Technology Investment Account. This bill would make the funds available for the research, development, and deployment of the above-described Global Warming Solutions Act programs and projects while creating jobs and reducing greenhouse gas emissions.

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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.

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Vote: majority. Appropriation: no. Fiscal committee:  begin delete no end delete begin insert yes end insert . State-mandated local program: no.

The people of the State of California do enact as follows:

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begin insert SECTION 1. end insert   

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begin insert Section 16428.96 is added to the end insert begin insert Government
Code end insert begin insert , to read: end insert

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begin insert 16428.96. end insert   

There is hereby created the Clean Technology
Investment Account within the Greenhouse Gas Reduction Fund,
established pursuant to Section 16428.8. Moneys in the fund shall
be appropriated annually by the Legislature in the Budget Act
from the Greenhouse Gas Reduction Fund to the Clean Technology
Investment Account. The moneys in the account shall be available
to implement the provisions of paragraph (7) of subdivision (c) of
Section 39712 of the Health and Safety Code to facilitate and fund
the research, development, and deployment of innovative
technologies while creating jobs and reducing greenhouse gas
emissions.

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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.

end delete