Bill > HB2251

This bill establishes two new accounts, the "climate commitment act operating account" and the "climate commitment act capital account," to receive funds from the auction of allowances under the Climate Commitment Act, which is a program designed to reduce greenhouse gas emissions. These accounts will be used to fund various initiatives aimed at reducing greenhouse gas emissions, increasing resilience to climate change impacts, and promoting long-term environmental benefits. The bill also reallocates funds from existing accounts, such as the carbon emissions reduction account, to these new accounts and modifies how auction proceeds are distributed. It specifies that expenditures from these accounts must supplement, not replace, existing spending and outlines a broad range of eligible uses, including administrative costs, programs for emission reduction and climate resilience, tribal capacity grants, energy efficiency projects, clean manufacturing, support for fossil fuel workers transitioning to a clean energy economy, and investments in clean water and healthy forests. The bill also includes provisions for reporting on the use of these funds, emphasizing transparency and accountability, and aims to ensure that at least 25% of the total appropriations from both new accounts are dedicated to clean water and healthy forest investments. Furthermore, it mandates that projects funded must meet high labor standards and maximize economic benefits for local workers and diverse businesses, while also ensuring that no funds are used in ways that violate tribal treaty rights or cause significant long-term environmental damage.