Bill Text: CA SB91 | 2015-2016 | Regular Session | Amended


Bill Title: Greenhouse Gas Reduction Fund: investment plan.

Spectrum: Unknown

Status: (Failed) 2016-11-30 - From Assembly without further action. [SB91 Detail]

Download: California-2015-SB91-Amended.html
BILL NUMBER: SB 91	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  SEPTEMBER 4, 2015

INTRODUCED BY   Committee on Budget and Fiscal Review

                        JANUARY 9, 2015

   An act relating to  the Budget Act of 2015.  
greenhouse gases. 



	LEGISLATIVE COUNSEL'S DIGEST


   SB 91, as amended, Committee on Budget and Fiscal Review. 
Budget Act of 2015.   Greenhouse Gas Reduction Fund:
investment plan.  
   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. 
   This bill would express the intent of the Legislature to enact
 statutory changes relating to the Budget Act of 2015.
  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. 
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
   
  SECTION 1.    It is the intent of the Legislature
to enact statutory changes relating to the Budget Act of 2015.

   SECTION 1.    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. 
                                                                 
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