California Assembly Bill AB1375 Amended / Bill

 BILL NUMBER: AB 1375AMENDED BILL TEXT AMENDED IN ASSEMBLY APRIL 23, 2013 AMENDED IN ASSEMBLY MARCH 21, 2013 INTRODUCED BY Assembly Member Chau  (   Coauthor:   Assembly Member   Gordon   )  FEBRUARY 22, 2013 An act to add Section 16428.96 to the Government Code, relating to greenhouse gases. LEGISLATIVE COUNSEL'S DIGEST AB 1375, as amended, Chau. California Global Warming Solutions Act of 2006: market-based compliance mechanisms: Clean Technology Investment Account. The California Global Warming Solutions Act of 2006, hereafter the Global Warming Solutions Act, 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 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. That law permits money from the fund be allocated for research, development, and deployment of innovative technologies, measures, and practices related to programs and projects funded under the Global Warming Solutions Act. That law also prohibits the state from using moneys in the fund unless the state determines that the use of the moneys furthers the regulatory purposes of the Global Warming Solutions Act. This bill would create the Clean Technology Investment Account within the Greenhouse Gas Reduction Fund and would require the Legislature to annually appropriate money from the Greenhouse Gas Reduction Fund into the Clean Technology Investment Account. This bill would make the funds available  to the State Air Resources Board of the purposes of providing grants to nonprofit public benefit corporations to design and implement programs  for the  research,  development,  demonstration,  and deployment  of the above-described Global Warming Solutions Act programs and projects while creating jobs and reducing greenhouse gas emissions   by companies and entrepreneurs of transformative technologies that would reduce or have the potential to reduce greenhouse gas emissions and foster job creation in the state  . Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:  SECTION 1.   It is the intent of the Legislature that moneys in the Clean Technology Investment Account be used to facilitate the achievement of reductions of greenhouse gas emissions in this state consistent with paragraph (7) of subdivision (c) of Section 39712 of the Health and Safety Code.   SECTION 1.   SEC. 2.  Section 16428.96 is added to the Government Code, to read: 16428.96.  (a)    There is hereby created the Clean Technology Investment Account within the Greenhouse Gas Reduction Fund, established pursuant to Section 16428.8. Moneys in the fund shall be appropriated annually by the Legislature in the Budget Act from the Greenhouse Gas Reduction Fund to the Clean Technology Investment Account.  The moneys in the account shall be available to implement the provisions of paragraph (7) of subdivision (c) of Section 39712 of the Health and Safety Code to facilitate and fund the research, development, and deployment of innovative technologies while creating jobs and reducing greenhouse gas emissions.   (b) Moneys in the account shall, upon appropriation by the Legislature in the annual Budget Act, be expended by the State Air Resources Board for the purposes of accelerating the development and deployment of clean technologies that will reduce greenhouse gas emission and will foster job creation in California by awarding grants to nonprofit public benefit corporations formed pursuant to the Nonprofit Corporation Law (Division 2 (commencing with Section 5000) of the Corporations Code) that is qualified to do business in California and is qualified under Section 501(c)(3) of the Internal Revenue Code to design and implement programs that accelerate the development, demonstration, and deployment by companies and entrepreneurships of transformative technologies that will reduce or have the potential to reduce greenhouse gas emissions and foster job creation in California.   (c) Priority shall be given to nonprofit public benefit corporations that have one or more of the following:   (1) A demonstrated ability to accelerate innovative technologies intended to reduce greenhouse gas emissions.   (2) A demonstrated ability to attract private capital.   (3) Access to broad network of resources, including, but not limited to, sponsoring entities, outside venture capital, academia, volunteers, and mentors.   (4) Operate as part of a larger effort, whether national or international, that it can leverage for the purposes of the programs designed pursuant to subdivision (b).   (5) An ability to match public funds with private resources, whether actual cash or in-kind contributions.   (d) Prior to disbursing grants pursuant to this section, the State Air Resources Board shall develop and adopt project solicitation and evaluation guidelines. The board shall conduct a public meeting to consider public comments prior to finalizing the guidelines. At least 30 days prior to the public meeting, the board shall publish the draft solicitation and evaluation guidelines on its Internet Web site.   (e) Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 does not apply to the development of program guidelines and solicitation and evaluation guidelines.