Amended in Assembly September 4, 2015

Senate Bill No. 91

Introduced by Committee on Budget and Fiscal Review

January 9, 2015

An act relating to begin delete the Budget Act of 2015. end delete begin insert greenhouse gases. end insert

LEGISLATIVE COUNSEL’S DIGEST

SB 91, as amended, Committee on Budget and Fiscal Review. begin delete Budget Act of 2015. end delete begin insert Greenhouse Gas Reduction Fund: investment plan. end insert

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The California Global Warming Solutions Act of 2006 establishes the State Air Resources Board as the state agency responsible for monitoring and regulating sources emitting 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 from 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.

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This bill would express the intent of the Legislature to enact begin delete statutory changes relating to the Budget Act of 2015. end delete begin insert legislation that amends the Budget Act of 2015 to reflect an expenditure plan for moneys in the Greenhouse Gas Reduction Fund that conforms to the 2015 investment plan for the moneys in the fund as adopted by the Legislature. end insert

Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.

The people of the State of California do enact as follows:

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SECTION 1.  

It is the intent of the Legislature to enact statutory
changes relating to the Budget Act of 2015.

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begin insert SECTION 1. end insert   

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begin insert It is the intent of the Legislature to enact
legislation that amends the Budget Act of 2015 (Chapter 10 of the
Statutes of 2015) to reflect an expenditure plan for moneys in the
Greenhouse Gas Reduction Fund, created pursuant to Section
16428.8 of the Government Code, that conforms to the 2015
cap-and-trade investment plan adopted by the Legislature. end insert