Bill Text: CA AB1374 | 2023-2024 | Regular Session | Introduced
Bill Title: Greenhouse Gas Reduction Fund: investment plan.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Failed) 2024-02-01 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB1374 Detail]
Download: California-2023-AB1374-Introduced.html
CALIFORNIA LEGISLATURE—
2023–2024 REGULAR SESSION
Assembly Bill
No. 1374
| Introduced by Assembly Member Alvarez |
February 17, 2023 |
An act to amend Section 39713 of the Health and Safety Code, relating to greenhouse gases.
LEGISLATIVE COUNSEL'S DIGEST
AB 1374, as introduced, Alvarez.
Greenhouse Gas Reduction Fund: investment plan.
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, 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 fund. Existing law requires the investment plan to allocate, among other things, a minimum of 25% of the available moneys in the fund to projects located within, and
benefiting individuals living in, disadvantaged communities and an additional minimum of 5% to projects that benefit low-income households or to projects located within, and benefiting individuals living in, low-income communities located anywhere in the state.
This bill would increase those amounts from 25% to 50% and from 5% to 15%.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 39713 of the Health and Safety Code is amended to read:39713.
(a) The investment plan developed and submitted to the Legislature pursuant to Section 39716 shall allocate a minimum of(b) The investment plan shall allocate a minimum of 5 15 percent of the available moneys in the
fund to projects that benefit low-income households or to projects located within the boundaries of, and benefiting individuals living in, low-income communities located anywhere in the state.
(c) The investment plan shall allocate a minimum of 5 percent of the available moneys in the fund either to projects that benefit low-income households that are outside of, but within one-half mile of, communities described in Section 39711, or to projects located within the boundaries of, and benefiting individuals living in, low-income communities that are outside of, but within one-half mile of, communities described in Section 39711.
(d) For purposes of this section, the following definitions shall apply:
(1) “Low-income households” are those with household incomes at or below 80 percent of the statewide median income or
with household incomes at or below the threshold designated as low income by the Department of Housing and Community Development’s list of state income limits adopted pursuant to Section 50093.
(2) “Low-income communities” are census tracts with median household incomes at or below 80 percent of the statewide median income or with median household incomes at or below the threshold designated as low income by the Department of Housing and Community Development’s list of state income limits adopted pursuant to Section 50093.
(e) Moneys allocated pursuant to one subdivision of this section do not count toward the minimum requirements of any other subdivision of this section.
