AB1532 And SB535 Signed By Governor Brown In California
This is an important win for communities and coalitions that believe in an equitable green economy. These two bills have clear objectives: to ensure that all communities benefit from the Cap and Trade mechanism, designed to reduce California' Green House Gases to 1990 levels, stated in AB32. AB1532 and SB535 help to mitigate decades of environmental degradation, reduce health impacts and their costs on low-income communities, and direct millions of dollars to projects and programs in disadvantaged areas in California. Helping to prepare all California's communities for a prosperous green economy. SB 535 (de Leon) would direct a quarter (25%) of the expenditures, received through auctions and allowances in the carbon market, towards projects benefitting areas disproportionately affected by pollution. 10 percent of the revenue would fund programs to reduce pollution and develop clean energy, in these disadvantaged communities. AB 1532 (Perez) establishes a public process in the allocation of revenues from AB 32. This bill requires moneys in the Greenhouse Gas Reduction Fund be used to achieve feasible, cost-effective reductions of greenhouse gas emissions that also maximize economic, environmental, and public health benefits.