SACRAMENTO - AB 1532, introduced by Speaker John A. Pérez (D-Los Angeles), was approved by the California State Assembly today. The measure seeks to provide a comprehensive framework for how the revenues generated from California’s first-in-the-nation carbon Cap and Trade system, which will auction off carbon credits to California’s businesses, will be allocated.

“California is a global leader in combating climate change, and we are proud that our state is the first to have created a carbon cap and trade system to reduce Greenhouse Gas emissions,” said Speaker Pérez. “This measure will move that effort forward by establishing a process to allocate the funds generated by carbon auctions, ultimately helping our economy become more sustainable and prosperous for every Californian.”

AB 1532 will establish procedures for deposit and expenditure of regulatory fee revenues derived from the auction of greenhouse gas allowances pursuant to the cap and trade program adopted by the Air Resources Board pursuant to the California Global Warming Solutions Act of 2006.

It was previously approved by the Assembly Committees on Natural Resources and Appropriations. The measure will now head to the Senate, and if successful there, will be sent to the Governor for his consideration.

CONTACT: John Vigna (916) 319-2408