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arbcombo -- Public Workshops on the Development of an Investment Plan for Auction Proceeds from California Cap-and-Trade Program

Posted: 31 Jan 2013 10:18:50
The State of California invites you to participate in a public
workshop to provide input on the development of an investment
plan for the auction proceeds from the Cap-and-Trade program to
reduce greenhouse gases. The workshop will be held in three
locations as indicated below; each workshop will cover the same

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: 

La versión en español del aviso del taller esta disponible aquí

If you would like to receive notices of future meetings and the
availability of materials, please sign up for our list serve at:


If you require a special accommodation or need this document in
an alternate format (i.e. Braille, large print) or another
language, please contact Ms. Heather Jackson at (916) 322-8267 or
hbjackso@arb.ca.gov as soon as possible, but no later than 10
business days before the scheduled meeting.  TTY/TDD/Speech to
Speech users may dial 711 for the California Relay Service.


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 (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

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