AB 1550, as amended, Gomez. Greenhouse gases: investment plan: disadvantaged communities.
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 actbegin delete requires the board to adopt greenhouse gas emission limits and emission reduction measures by regulation, andend delete authorizes the state board to include the use of market-based compliancebegin delete mechanisms to comply with the regulations.end deletebegin insert mechanisms.end insert Existing law requires all moneys, except for fines and penalties, collected by the state board as part of a market-based compliance mechanism to be deposited in the Greenhouse Gas
Reduction Fund and to be available upon appropriation. 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. Existing law requires the investment plan to allocate a minimum of 25% of the available moneys in the fund to projects that provide benefits to disadvantagedbegin delete communitiesend deletebegin insert communities, as defined,end insert and a minimum of 10% to projects located in disadvantaged communities. Existing lawbegin delete provides thatend deletebegin insert
authorizesend insert the allocation of 10% for projects located in disadvantaged communitiesbegin delete mayend deletebegin insert toend insert be used for projects included in the minimum allocation of 25% for projects that provide benefits to disadvantaged communities.
This bill would instead require the investment plan to allocate a minimum of 25% of the available moneys in the fund to projects located within, and benefitting individuals living in, disadvantaged communities andbegin delete a separate and additional unspecified percentageend deletebegin insert a minimum of 20%end insert to projects that benefit low-income households, as specified,
with a fair share of those moneys targeting households with incomes at or below 200% of the federal poverty level.
Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 39713 of the Health and Safety Code is
2amended to read:
(a) The investment plan developed and submitted to
4thebegin delete Legislature,end deletebegin insert Legislatureend insert pursuant to Sectionbegin delete 39716,end deletebegin insert 39716end insert shall
5allocate a minimum of 25 percent of the available moneys in the
6fund to projects located within the boundaries of, and benefitting
7individuals living in, communities described in Section 39711.
8(b) The investment plan shall allocate a
minimum ofbegin delete_____end deletebegin insert 20end insert
9 percent of the available moneys in the fund to projects that benefit
10low-income households.
11(1) For purposes of this subdivision, “low-income households”
12are those with household incomes at or below 80 percent of the
13statewide median income or withbegin delete medianend deletebegin insert
householdend insert incomes at
14or below the threshold designated as low income by the Department
15of Housing and Community Development’s list of state income
16limits adopted pursuant to Section 50093.
17(2) To the extent feasible, a fair share of the moneys allocated
18pursuant to this subdivision shall target households with incomes
19at or below 200 percent of the federal poverty level.
20(c) Moneys spent pursuant to subdivision (a) shall not count
21toward the minimum requirement described in subdivision (b),
P3 1and moneys spent pursuant to subdivision (b) shall not count
2toward the minimum requirement described in subdivision (a).
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