BILL ANALYSIS Ó
SENATE COMMITTEE ON APPROPRIATIONS
Senator Ricardo Lara, Chair
2015 - 2016 Regular Session
AB 1550 (Gomez) - Greenhouse gases: investment plan:
disadvantaged communities
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|Version: August 2, 2016 |Policy Vote: E.Q. 5 - 1 |
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|Urgency: No |Mandate: No |
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|Hearing Date: August 11, 2016 |Consultant: Narisha Bonakdar |
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*********** ANALYSIS ADDENDUM - SUSPENSE FILE ***********
The following information is revised to reflect amendments
adopted by the committee on August 11, 2016
Bill
Summary: AB 1550 requires 25 percent of the AB 32 Greenhouse
Gas Reduction Fund (GGRF) revenues to be spent on projects
located within and benefiting disadvantaged communities, and an
additional 20 percent to be spent on projects that benefit
low-income households or are within low-income communities, as
defined.
Fiscal
Impact:
Increased GGRF expenditures in disadvantaged communities (from
AB 1550 (Gomez) Page 1 of
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10 percent direct investment to 25 percent) and for low-income
households and to low-income communities (from 0 to 5
percent).
Increased annual ongoing costs of up to $465,000 (GGRF) for
the California Air Resources Board (ARB) to modify existing
guidelines and tracking systems, provide guidance to
administering agencies, and conduct outreach.
Unknown cost to administering agencies to update tracking
systems, track GGRF expenditures in disadvantaged and
low-income communities, and report to ARB regarding
expenditures in these communities.
Committee
Amendments:
Reduce the amount of GGRF that must be spent in low-income
areas, from 20 percent to 5 percent.
Make enactment contingent upon enactment of AB 1613.
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