Greenhouse Gas Reduction Fund: study: securitization.

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 the use of market-based compliance mechanisms. Existing law requires all moneys, except for fines and penalties, collected by the state board from the auction or sale of allowances as part of a market-based compliance mechanism to be deposited in the Greenhouse Gas Reduction Fund. This bill would require the office of the Treasurer, by March 1, 2021, to submit to the Legislature a report on the feasibility of securitizing revenues from the Greenhouse Gas Reduction Fund to spur innovation and reduce emissions of greenhouse gases that will be paid back by future revenues generated by the market-based compliance mechanism.