Cap-and-Trade Auction Proceeds

Cap-and-Trade Auction Proceeds website __________ The Air Resources Board posted the "Draft Cap-and-Trade Auction Proceeds Investment Plan: Fiscal Years 2013-14 through 2015-16." The purpose of this three-year Draft Plan is to evaluate the opportunities for greenhouse gas emission reductions, and identify priority State investments to help achieve greenhouse gas reduction goals and yield valuable co-benefits in furtherance of the purposes of AB 32. This plan will be presented at a public hearing scheduled for April 25, 2013. For the Public Meeting Agenda, see http://www.arb.ca.gov/board/ma/2013/ma042513.pdf . The Board Hearing Notice and Draft Investment Plan are available on ARB’s website at: http://www.arb.ca.gov/cc/capandtrade/auctionproceeds/auctionproceeds.htm ____________ Feb 5, 2013 post: The California Air Resources Board will conduct public workshops to provide input on the development of an investment plan for the auction proceeds from the Cap-and-Trade program to reduce greenhouse gases (GHG). The workshops will be held in three locations as indicated below; each workshop will cover the same topics. FRESNO Workshop: February 19, 2013 SACRAMENTO Workshop: February 25, 2013 (also webcast) LOS ANGELES Workshop: February 27, 2013 Further information on the investment of the State portion of the auction proceeds, including the detailed notice for these workshops is available at: http://www.arb.ca.gov/cc/capandtrade/auctionproceeds/auctionproceeds.htm Assembly Bill (AB) 32, the California Global Warming Solutions Act of 2006, requires California to reduce statewide GHG emissions to 1990 levels by 2020 and to maintain and continue reductions beyond 2020. As part of this effort, the Air Resources Board (ARB) has developed a Cap-and-Trade program that limits statewide emissions from sources responsible for 85 percent of greenhouse gases and creates a financial incentive for clean and efficient technologies. Under the program, a portion of the allowances required for compliance are auctioned. The State portion of the proceeds from these auctions will be used to fund projects to reduce greenhouse gas emissions, consistent with State law. In September 2012, the Legislature passed and Governor Brown signed into law two bills – AB 1532 (Pérez, Chapter 807) and Senate Bill (SB) 535 (De León, Chapter 830) – that together establish a framework for developing an investment plan for projects and programs to be funded with Cap-and-Trade auction proceeds. SB 535 further requires that 25 percent of the proceeds that will be expended benefit disadvantaged communities and at least 10 percent of the proceeds expended be invested in projects located within those communities. The Department of Finance, in consultation with the ARB and other state entities, will develop and submit to the Legislature a three-year investment plan for the auction proceeds. The investment plan will identify the State’s greenhouse gas reduction goals and priority programs for investment of proceeds to support achievement of those goals. Funding will be appropriated to State agencies by the Legislature and Governor through the annual Budget Act, consistent with the plan.

Over 11K Stories!

| Independently Powered Energy News

Cap-and-Trade Auction Proceeds

dgrandyadmin

Related Posts

A Guide to Finding the Most reputable UK Online Casinos

Using Free Casino Video Slots To Enhance Your Odds Of Winning

Governor Brown Combines Business and Politics in China