Today's Law As Amended

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AB-1375 California Global Warming Solutions Act of 2006: market-based compliance mechanisms: Clean Technology Investment Account.(2013-2014)



SECTION 1.
 It is the intent of the Legislature that moneys in the Clean Technology Investment Account be used to facilitate the achievement of reductions of greenhouse gas emissions in this state consistent with paragraph (7) of subdivision (c) of Section 39712 of the Health and Safety Code.

SEC. 2.

 Section 16428.96 is added to the Government Code, to read:

16428.96.
 (a) There is hereby created the Clean Technology Investment Account within the Greenhouse Gas Reduction Fund, established pursuant to Section 16428.8. Moneys shall be appropriated annually by the Legislature in the Budget Act from the Greenhouse Gas Reduction Fund to the Clean Technology Investment Account. Moneys in the Clean Technology Investment Account shall be available for expenditure by the State Air Resources Board for the purposes of this section, upon appropriation by the Legislature in the annual Budget Act.
(b) Moneys in the Clean Technology Investment Account shall be expended by the State Air Resources Board for the purposes of accelerating the development and deployment of clean technologies that will reduce greenhouse gas emissions and will foster job creation in California.
(c) Prior to disbursing moneys pursuant to this section, the State Air Resources Board shall develop and adopt project solicitation and evaluation guidelines. The state board shall conduct a public meeting to consider public comments prior to finalizing the guidelines. At least 30 days prior to the public meeting, the state board shall publish the draft solicitation and evaluation guidelines on its Internet Web site.
(d) The implementation of this section, including the development of guidelines by the State Air Resources Board and the allocation of financial assistance to eligible recipients, shall be contingent on the appropriation of moneys in the annual Budget Act by the Legislature for these purposes.