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 act authorizes the state board to include the use of market-based compliance mechanisms. 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 disadvantaged communities, as defined, and a minimum of 10% to projects located inbegin insert thoseend insert disadvantaged communities. Existing lawbegin delete authorizesend deletebegin insert provides thatend insert the allocation of 10% for projects located in disadvantaged communitiesbegin delete toend deletebegin insert mayend 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, andbegin delete benefittingend deletebegin insert benefitingend insert individuals living in, disadvantaged communitiesbegin insert, as described,end insert andbegin delete aend deletebegin insert an additionalend insert minimum of 20% to projects that benefit low-incomebegin delete households, as specified,
with a fair share of those moneys targeting households with incomes at or below 200% of the federal poverty level.end deletebegin insert households or to projects located within, and benefiting individuals living in, low-income communities, as defined.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:
Section 39713 of the Health and Safety Code is
2amended to read:
(a) The investment plan developed and submitted to
4the Legislature pursuant to Section 39716 shall allocate a minimum
5of 25 percent of the available moneys in the fund to projects located
6within the boundaries of, andbegin delete benefittingend deletebegin insert benefitingend insert individuals
7living in, communities described in Section 39711.
8(b) begin insert(1)end insertbegin insert end insert The
investment plan shall allocate a minimum of 20
9percent of the available moneys in the fund to projects that benefit
10low-incomebegin delete households.end deletebegin insert households or to projects located within
11the boundaries of, and benefiting individuals living in, low-income
12communities.end insert
13(1)
end delete
14begin insert(2)end insertbegin insert end insert For
purposes of this subdivision,begin delete “low-incomeend deletebegin insert the following
15definitions shall apply:end insert
16begin insert(A)end insertbegin insert end insertbegin insert“end insertbegin insertLow-incomeend insert households” are those with household incomes
17at or below 80 percent of the statewide median income or with
18household incomes at or below the threshold designated as low
19income by the Department of Housing and Community
P3 1Development’s list
of state income limits adopted pursuant to
2Section 50093.
3(2) To the extent feasible, a fair share of the moneys allocated
4pursuant to this subdivision shall target households with incomes
5at or below 200 percent of the federal poverty level.
6
(B) “Low-income communities” are census tracts with median
7household incomes at or below 80 percent of the statewide median
8income or with median household incomes at or below the
9threshold designated as low income by the Department of Housing
10and Community Development’s list of state income limits adopted
11pursuant to Section 50093.
12(c) Moneys spent pursuant to subdivision (a) shall not count
13toward the minimum requirement described in subdivision (b),
14and moneys spent pursuant to subdivision (b) shall not count
15toward the minimum requirement described in subdivision (a).
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