California SB840 establishes a Greenhouse Gas Reduction Fund and allocates funds for climate change mitigation and adaptation.

California SB840 creates a Greenhouse Gas Reduction Fund to address climate change. The fund receives moneys from the auction or sale of allowances under a market-based compliance mechanism. The bill mandates specific allocations for various programs, including clean transportation, housing, air and water quality, wildfire prevention, agriculture, clean energy, and climate innovation. It also requires the state board to evaluate compliance offset protocols every five years and update them to reflect the best available science.

California SB840 establishes a Greenhouse Gas Reduction Fund and allocates funds for climate change mitigation and adaptation.

California SB840 creates a Greenhouse Gas Reduction Fund to address climate change. The fund receives moneys from the auction or sale of allowances under a market-based compliance mechanism. The bill mandates specific allocations for various programs, including clean transportation, housing, air and water quality, wildfire prevention, agriculture, clean energy, and climate innovation. It also requires the state board to evaluate compliance offset protocols every five years and update them to reflect the best available science.