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AB-2343 Greenhouse Gas Reduction Fund: study.(2015-2016)

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AB2343:v97#DOCUMENT

Amended  IN  Assembly  April 27, 2016
Amended  IN  Assembly  April 11, 2016

CALIFORNIA LEGISLATURE— 2015–2016 REGULAR SESSION

Assembly Bill
No. 2343


Introduced by Assembly Members Cristina Garcia, Eggman, Eduardo Garcia, and Gomez

February 18, 2016


An act to amend Section 39720 of the Health and Safety Code, relating to greenhouse gases.


LEGISLATIVE COUNSEL'S DIGEST


AB 2343, as amended, Cristina Garcia. Greenhouse Gas Reduction Fund: study.
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 to annually submit a report to the appropriate committees of the Legislature on the status of the projects funded with moneys in the fund.
This bill would require the department to include additional data in that annual report, as specified.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

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


SECTION 1.

 Section 39720 of the Health and Safety Code is amended to read:

39720.
 (a) Notwithstanding Section 10231.5 of the Government Code, the Department of Finance shall submit a report on or before March 1, 2014, and annually thereafter, to the appropriate committees of the Legislature on the status and outcomes of projects funded pursuant to this part.
(b) (1) The report prepared pursuant to subdivision (a) also shall include a comparison of all of the following:
(A) The levels of investment funded pursuant to this part on a geographic basis across the state.
(B) The greenhouse gas emissions reductions resulting from investments funded pursuant to this part.
(C) The economic benefits associated with the investments funded pursuant to this chapter, including, but not limited to, the jobs created and salaries and wages associated with those jobs.
(2) This subdivision shall apply once sufficient data is collected from the first two market-based compliance mechanism’s auctions conducted in the 2017 calendar year.
(c) A report submitted pursuant to this section shall be submitted in compliance with Section 9795 of the Government Code.