Amended in Assembly September 4, 2015

Senate Bill No. 105

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 105, 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

begin insert

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.

end insert

This bill would express the intent of the Legislature to enact statutory changes begin delete relating to the Budget Act of 2015. end delete begin insert necessary to implement the 2015 investment plan for the moneys deposited in the Greenhouse Gas Reduction Fund. 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:

begin delete

SECTION 1.  

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

end delete

begin insert

begin insert SECTION 1. end insert   

end insert

begin insert It is the intent of the Legislature to enact
legislation that adopts statutory changes necessary to implement
the 2015 cap end insert begin insert -and end insert begin insert -trade investment plan. end insert