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auctionproceeds -- Cap-and-Trade Auction Proceeds - Draft Funding Guidelines Supplement for Public Comment
Posted: 16 Nov 2016 11:24:55
The Air Resources Board has published draft guidelines for agencies administering Cap-and-Trade Auction Proceeds, comments are due by December 6, 2016. In September 2016, the Legislature and Governor appropriated approximately $900 million in auction proceeds to administering agencies to fund projects that reduce greenhouse gas emissions and provide other co-benefits. By statute, ARB is required to develop guidelines for agencies administering cap-and-trade auction proceeds appropriations. The Draft Funding Guidelines Supplement for Fiscal Year (FY) 2016-17 Funds (Supplement) released today for public comment provides updates to ARB’s existing guidelines (published in December 2015). The draft Supplement includes updated disadvantaged community investment targets for all FY 2016-17 budget appropriations. The Supplement also provides criteria to determine whether projects funded by the new FY 2016-17 appropriations will provide benefits to disadvantaged communities. Comments are due by December 6, 2016, the draft document and electronic comment log are available: www.arb.ca.gov/cci-fundingguidelines. BACKGROUND: In accordance with Senate Bill (SB) 862 (Chapter 36, Statutes of 2014), the Air Resources Board (ARB or Board) must develop funding guidelines for State agencies, local transit agencies, and academic institutions (administering agencies) that receive a direct appropriation of Cap-and-Trade auction proceeds. To comply with this law, the Board approved, and ARB released, the final version of the Cap-and-Trade Auction Proceeds, Funding Guidelines for Agencies that Administer California Climate Investments in December 2015. These guidelines provide direction to administering agencies to use appropriations in a way that reduces greenhouse gases, furthers the purposes of Assembly Bill 32, maximizes benefits to disadvantaged communities, and meets the other statutory requirements of the fund. SPECIAL ACCOMMODATION: If you require a special accommodation or need this document in an alternate format (i.e., Braille, large print) or another language, please contact Rachel Pallatin at: (916) 324-3502 or rachel.pallatin@arb.ca.gov as soon as possible. TTY/TDD/Speech to Speech users may dial 711 for the California Relay Service. California is in a drought emergency. Visit www.SaveOurH2O.org for water conservation tips.
