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Regarding the ARB’s Plan for Investment of Cap-and-Trade Auction
Proceeds, the best use of revenues from an auction of permits under
the AB32 cap-and-trade program is to return auction proceeds to the
public through a dividend. Although rebates are already being
contemplated for the electricity sector, costs from the carbon
price will be passed down to consumers in the industrial and
transportation sectors as well.  Dividends accomplish the
additional goals of AB32 relating to equity, and maximizing
additional environmental, economic, and overall societal benefits,
and are therefore not legally risky.  ARB should work with the
Governor to ask State Legislators to amend bill AB1532 (Perez) to
include dividends as a potential category for the Air Pollution
Control Fund.

The experts of the Economic and Allocations Advisory Committee
(EAAC) recommended ARB set aside 25% of proceeds for investments,
as long as 75% goes back to consumers as climate dividends. 
Dividends will reimburse the public for their share of revenues
from the Commons, and provide benefits for the State and the people
of California.


Sincerely,

Original File Name:

Date and Time Comment Was Submitted: 2012-06-15 12:04:30