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 boardbegin delete from the auction or sale of allowancesend delete 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 delete Thatend deletebegin insert Existingend insert law permitsbegin delete moneyend deletebegin insert moneysend insert from the fund be allocated forbegin insert theend insert research, development, and deployment of innovative technologies, measures, and practices related to programs and projects funded under the Global Warming Solutions Act.begin delete 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 delete
This bill would create the Clean Technology Investment Account within the Greenhouse Gas Reduction Fund and would require the Legislature to annually appropriatebegin delete moneyend deletebegin insert moneysend insert from the Greenhouse Gas Reduction Fund into the Clean Technology Investment Account. This bill would makebegin delete the fundsend deletebegin insert those moneysend insert available to thebegin delete State Air Resources Board ofend deletebegin insert state board forend insert the purposes ofbegin delete providing grants to nonprofit public benefit corporations to design and implement programs forend deletebegin insert
acceleratingend insert the development, demonstration, and deploymentbegin delete by companies and entrepreneurs of transformative technologies that would reduce or have the potential toend deletebegin insert of clean technologies that willend insert reduce greenhouse gas emissions and foster job creation in the state.begin insert The bill would require the implementation of these provisions be contingent on the appropriation of moneys by the Legislature for these purposes.end insert
Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.
The people of the State of California do enact as follows:
It is the intent of the Legislature that moneys in
2the Clean Technology Investment Account be used to facilitate
3the achievement 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.
Section 16428.96 is added to the Government Code,
7to read:
(a) There is hereby created the Clean Technology
9Investment Account within the Greenhouse Gas Reduction Fund,
10established pursuant to Section 16428.8. Moneysbegin delete in the fundend delete shall
11be appropriated annually by the Legislature in the Budget Act from
12the Greenhouse Gas Reduction Fund to the Clean Technology
13Investment Account.begin insert Moneys in the Clean Technology Investment
14Account shall be available for expenditure by the State Air
15Resources Board for the purposes of this section, upon
16appropriation by the Legislature in the annual Budget Act.end insert
P3 1(b) Moneys in thebegin delete accountend deletebegin insert Clean Technology Investment Accountend insert
2 shallbegin delete, upon appropriation by the Legislature in the annual Budget be expended by the State Air Resources Board for the purposes
3Act,end delete
4of accelerating the development and deployment of clean
5technologies that will reduce greenhouse gasbegin delete emissionend deletebegin insert emissionsend insert
6 and will foster job creation in Californiabegin delete by awarding grants to .
7nonprofit public benefit corporations formed pursuant to the
8Nonprofit Corporation Law (Division 2 (commencing with Section
95000) of the Corporations Code) that is qualified to do business
10in California and is qualified under Section 501(c)(3) of the Internal
11Revenue Code to design and implement programs that accelerate
12the development, demonstration, and deployment by companies
13and entrepreneurships of transformative technologies that will
14reduce or have the potential to reduce greenhouse gas emissions
15and foster job creation in Californiaend delete
16(c) Priority shall be given to nonprofit public benefit
17corporations that have one or more of the following:
18(1) A demonstrated ability to accelerate innovative technologies
19intended to reduce greenhouse gas emissions.
20(2) A demonstrated ability to attract private capital.
end delete
21(3) Access to broad network of resources, including, but not
22limited to, sponsoring entities, outside venture capital, academia,
23volunteers, and mentors.
24(4) Operate as part of a larger effort, whether national or
25international, that it can leverage for the purposes of the programs
26designed pursuant to subdivision (b).
27(5) An ability to match public funds with private resources,
28whether actual cash or in-kind contributions.
29(d)
end delete
30begin insert(c)end insert Prior to disbursingbegin delete grantsend deletebegin insert moneysend insert pursuant to this section,
31the State Air Resources Board shall develop and adopt project
32solicitation and evaluation guidelines. Thebegin insert stateend insert board shall conduct
33a public meeting to consider public comments prior to finalizing
34the guidelines. At least 30 days prior to the public meeting, the
35begin insert stateend insert board shall publish the draft solicitation and evaluation
36guidelines on its
Internet Web site.
37(e) Chapter 3.5 (commencing with Section 11340) of Part 1 of
38Division 3 of Title 2 does not apply to the development of program
39guidelines and solicitation and evaluation guidelines.
P4 1(d) The implementation of this section, including the
2development of guidelines by the State Air Resources Board and
3the allocation of financial assistance to eligible recipients, shall
4be contingent on the appropriation of moneys in the annual Budget
5Act by the Legislature for these purposes.
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