Bill > SB840

This bill addresses California's approach to greenhouse gas reduction and the Greenhouse Gas Reduction Fund, making several key changes and establishing new requirements. The bill intends to direct specific percentages of the fund's revenues to various areas including clean transportation, housing, clean air and water, wildfire prevention, agriculture, clean energy, and climate innovation. Beginning in the 2026-27 fiscal year, the bill will make the continuous appropriations from the fund inoperative and establish a new allocation priority. The State Air Resources Board is required to conduct several important studies, including a comprehensive review of offset projects by December 31, 2026, and an evaluation of all compliance offset protocols by January 1, 2034, to ensure they reflect the best available science. The bill also creates a framework for appropriating funds to specific programs, such as allocating $1 billion to the High-Speed Rail Authority, $800 million to the Strategic Growth Council for affordable housing and sustainable communities, and $250 million to the State Air Resources Board for community air protection programs. Additionally, the bill signals the Legislature's intent to establish a Legislative Counsel Climate Bureau in the 2025-2026 session to provide advice and investigation services related to climate change policies. The bill is designated as an urgency statute, meaning it will take effect immediately to address what the Legislature considers an existential threat of climate change.

Agriculture and Natural Resources, Budget and Finance

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB840