Air Resources Board Unveils New Cap-and-Trade Funding Guidelines

This week, the California Air Resources Board released supplemental guidelines for state agencies to use when administering grants funded by Cap-and-Trade auction proceeds.  The guidelines were developed to provide investment targets in line with the 2016-17 State Budget Cap-and-Trade allocations, as well as to provide criteria for determining whether a project provides benefits to disadvantaged communities in accordance with Senate Bill 535 (De León).  

While Assembly Bill 1550 (Gomez), signed into law earlier this year, places even greater restrictions on how funds can be spent in disadvantaged communities as defined by the California Environmental Protection Agency, the new guidelines do not address those new parameters.  The Board expects to update the guidelines again in 2017 to address AB 1550.

Comments on the supplemental guidelines are due by December 6, 2016.  Detailed information can be accessed here.