Greenhouse Gas Reduction Fund: investment plan.

The California Global Warming Solutions Act of 2006 designates the State Air Resources Board as the state agency charged with monitoring and regulating sources of emissions of greenhouse gases. The act authorizes the state board to include use of market-based compliance mechanisms. Existing law requires all moneys, except for fines and penalties, collected by the state board as part of a market-based compliance mechanism to be deposited in the Greenhouse Gas Reduction Fund and to be available upon appropriation. Existing law requires the moneys from the fund to be used to facilitate the achievement of reductions of greenhouse gas emissions consistent with the act, as specified. This bill would make technical, nonsubstantive changes to those provisions.