California Assembly Bill AB1550 Amended / Bill

 BILL NUMBER: AB 1550AMENDED BILL TEXT AMENDED IN SENATE AUGUST 2, 2016 AMENDED IN ASSEMBLY MAY 31, 2016 AMENDED IN ASSEMBLY APRIL 11, 2016 AMENDED IN ASSEMBLY MARCH 28, 2016 INTRODUCED BY Assembly Member Gomez JANUARY 4, 2016 An act to amend Section 39713 of the Health and Safety Code, relating to greenhouse gases. LEGISLATIVE COUNSEL'S DIGEST AB 1550, as amended, Gomez. Greenhouse gases: investment plan: disadvantaged communities. 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 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 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 investment plan to allocate a minimum of 25% of the available moneys in the fund to projects that provide benefits to disadvantaged communities, as defined, and a minimum of 10% to projects located in  those  disadvantaged communities. Existing law  authorizes   provides that  the allocation of 10% for projects located in disadvantaged communities  to   may  be used for projects included in the minimum allocation of 25% for projects that provide benefits to disadvantaged communities. This bill would instead require the investment plan to allocate a minimum of 25% of the available moneys in the fund to projects located within, and  benefitting   benefiting  individuals living in, disadvantaged communities  , as described,  and  a   an additional  minimum of 20% to projects that benefit low-income  households, as specified, with a fair share of those moneys targeting households with incomes at or below 200% of the federal poverty level.   households or to projects located within, and benefiting individuals living in, low-income communities, as defined.  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. Section 39713 of the Health and Safety Code is amended to read: 39713. (a) The investment plan developed and submitted to the Legislature pursuant to Section 39716 shall allocate a minimum of 25 percent of the available moneys in the fund to projects located within the boundaries of, and  benefitting   benefiting  individuals living in, communities described in Section 39711. (b)  (1)    The investment plan shall allocate a minimum of 20 percent of the available moneys in the fund to projects that benefit low-income  households.   households or to projects located within the boundaries of, and benefiting individuals living in, low-income communities.   (1)   (2)    For purposes of this subdivision,  "low-income   the following definitions shall apply:   (A)     "   Low-income  households" are those with household incomes at or below 80 percent of the statewide median income or with household incomes at or below the threshold designated as low income by the Department of Housing and Community Development's list of state income limits adopted pursuant to Section 50093.  (2) To the extent feasible, a fair share of the moneys allocated pursuant to this subdivision shall target households with incomes at or below 200 percent of the federal poverty level.   (B) "Low-income communities" are census tracts with median household incomes at or below 80 percent of the statewide median income or with median household incomes at or below the threshold designated as low income by the Department of Housing and Community Development's list of state income limits adopted pursuant to Section 50093.  (c) Moneys spent pursuant to subdivision (a) shall not count toward the minimum requirement described in subdivision (b), and moneys spent pursuant to subdivision (b) shall not count toward the minimum requirement described in subdivision (a).