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auctionproceeds -- Cap-and-Trade Auction Proceeds - Funding Guidelines Supplement for FY 2016-17 Funds
Posted: 30 Dec 2016 16:21:46
The Air Resources Board (ARB or Board) has published guidelines for agencies administering Cap-and-Trade Auction Proceeds. 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 Funding Guidelines Supplement for Fiscal Year (FY) 2016-17 Funds (Supplement) released today provides updates to ARB’s existing guidelines (published in December 2015). The 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. The Supplement is available here: www.arb.ca.gov/cci-fundingguidelines. BACKGROUND: In accordance with Senate Bill 862 (Chapter 36, Statutes of 2014), ARB 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.