Greenhouse Gas Reduction Fund: investment plan.

The California Global Warming Solutions Act of 2006 establishes the State Air Resources Board as the state agency responsible for monitoring and regulating sources emitting greenhouse gases. The act authorizes the state board to include the use of market-based compliance mechanisms. Existing law requires all moneys, except for fines and penalties, collected by the state board from a market-based compliance mechanism to be deposited in the Greenhouse Gas Reduction Fund and to be available upon appropriation by the Legislature. Existing law requires the Department of Finance, in consultation with the state board and any other relevant state agency, to develop, as specified, a 3-year investment plan for the moneys deposited in the Greenhouse Gas Reduction Fund. This bill would express the intent of the Legislature to enact legislation that amends the Budget Act of 2015 to reflect an expenditure plan for moneys in the Greenhouse Gas Reduction Fund that conforms to the 2015 investment plan for the moneys in the fund as adopted by the Legislature.