California Global Warming Solutions Act of 2006: 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 the auction or sale of allowances as part of 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. 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 and, among other things, to maximize economic, environmental, and public health benefits to the state. This bill, beginning July 1, 2021, would require state agencies administering competitive grant programs that allocate moneys from the fund to give specified communities preferential points during grant application scoring for programs intended to improve air quality and to include a specified application timeline and to allow applicants from the Counties of Imperial and San Diego to include daytime population numbers in grant applications. This bill, for competitive grant programs that involve housing, urban forestry, urban greening, or planning and that allocate moneys from the fund after July 1, 2021, would require state agencies administering those moneys from the fund to develop at least 3 categories for applications based on the population and density of where the proposed project is to be located and to develop scoring criteria for each category, as specified. This bill would additionally require the moneys in the fund to be used to facilitate the achievement of reductions of greenhouse gas emissions consistent with the act and to increase water supply resilience; reduce or prevent increases in transportation, energy, or fuel costs, particularly in disadvantaged communities; accelerate the development and implementation of low-carbon technology; reduce vehicle miles traveled; promote zoning and development activities that increase public access to essential services or amenities; promote partnerships between multiple jurisdictions; promote climate change adaptation capacity; and improve community access to green space. This bill also would require the Department of Finance to include in an annual report to the Legislature specified information on the applications received for each grant program allocating moneys from the fund.