AB 1375, as amended, Chau. California Global Warming Solutions Act of 2006: market-based compliance mechanisms: Clean Technology Investment 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 availablebegin insert to the State Air Resources Board of the purposes of providing grants to nonprofit public benefit corporations to design and implement programsend insert for thebegin delete research,end delete
development,begin insert demonstration,end insert and deploymentbegin delete of the above-described Global Warming Solutions Act programs and projects while creating jobs and reducing greenhouse gas emissionsend deletebegin insert by companies and entrepreneurs of transformative technologies that would reduce or have the potential to reduce greenhouse gas emissions and foster job creation in the stateend insert.
Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.
The people of the State of California do enact as follows:
begin insertIt is the intent of the Legislature that moneys in
2the Clean Technology Investment Account be used to facilitate the
3achievement of reductions of greenhouse gas emissions in this
4state consistent with paragraph (7) of subdivision (c) of Section
539712 of the Health and Safety Code.end insert
Section 16428.96 is added to the Government Code,
8to read:
begin insert(a)end insertbegin insert end insert There is hereby created the Clean Technology
10Investment Account within the Greenhouse Gas Reduction Fund,
11established pursuant to Section 16428.8. Moneys in the fund shall
12be appropriated annually by the Legislature in the Budget Act from
13the Greenhouse Gas Reduction Fund to the Clean Technology
14Investment Account.begin delete The moneys in the account shall be available
15to implement the provisions of paragraph (7) of subdivision (c) of
16Section 39712 of the Health and Safety Code to facilitate and fund
17the research, development, and deployment of innovative
P3 1technologies while creating jobs and reducing greenhouse gas
2emissions.end delete
3(b) Moneys in the account shall, upon appropriation by the
4Legislature in the annual Budget Act, be expended by the State
5Air Resources Board for the purposes of accelerating the
6development and deployment of clean technologies that will reduce
7greenhouse gas emission and will foster job creation in California
8by awarding grants to nonprofit public benefit corporations formed
9pursuant to the Nonprofit Corporation Law (Division 2
10(commencing with Section 5000) of the Corporations Code) that
11is qualified to do business in California and is qualified under
12Section 501(c)(3) of the Internal Revenue Code to design and
13implement programs that accelerate the development,
14demonstration, and deployment by companies and
15entrepreneurships of transformative technologies that will reduce
16or have the potential to reduce greenhouse gas emissions and
17foster job creation in California.
18(c) Priority shall be given to nonprofit public benefit
19corporations that have one or more of the following:
20(1) A demonstrated ability to accelerate innovative technologies
21intended to reduce greenhouse gas emissions.
22(2) A demonstrated ability to attract private capital.
end insertbegin insert
23(3) Access to broad network of resources, including, but not
24limited to, sponsoring entities, outside venture capital, academia,
25volunteers, and mentors.
26(4) Operate as part of a larger effort, whether national or
27international, that it can leverage for the purposes of the programs
28designed pursuant to subdivision (b).
29(5) An ability to match public funds with private resources,
30whether actual cash or in-kind contributions.
31(d) Prior to disbursing grants pursuant to this section, the State
32Air Resources Board shall develop and adopt project
solicitation
33and evaluation guidelines. The board shall conduct a public
34meeting to consider public comments prior to finalizing the
35guidelines. At least 30 days prior to the public meeting, the board
36shall publish the draft solicitation and evaluation guidelines on
37its Internet Web site.
38(e) Chapter 3.5 (commencing with Section 11340) of Part 1 of
39Division 3 of Title 2 does not apply to the development of program
40guidelines and solicitation and evaluation guidelines.
O
97