BILL NUMBER: AB 1375	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  MARCH 21, 2013

INTRODUCED BY   Assembly Member Chau

                        FEBRUARY 22, 2013

   An act  to add Section 16428.96 to the Government Code, 
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  Fund.   Account. 
   The California Global Warming Solutions Act of 2006  ,
hereafter the Global Warming Solutions Act,  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  . 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  . 
   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.  
   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
  yes  . State-mandated local program: no.


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

   SECTION 1.    Section 16428.96 is added to  
the   Government Code   , to read:  
   16428.96.  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.  
  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.