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Public Work Group Meeting to Implement Fiscal Year 2021-22 Clean Transportation Equity Project Safeguards for Cap-and-Trade Auction Revenue Uncertainty
Public meeting to discuss California Air Resources Board (CARB) staff’s proposal for implementing the Fiscal Year (FY) 2021-22 Clean Transportation Equity project safeguards for Cap-and-Trade auction revenue uncertainty. Section 15.14 of the Budget Act of 2021 (Budget Act) specifies that “no department shall encumber or commit more than 75 percent of any appropriation prior to the fourth Cap-and-Trade auction in the 2021-22 fiscal year.” To account for uncertainties in the proceeds that will be generated from Cap-and-Trade auctions, CARB is required to not encumber 25 percent of the Low Carbon Transportation appropriation until the fourth auction is completed, which is expected to occur in May 2022. Thus, $37.5 million of the $150 million in funding allocated to Clean Transportation Equity projects will not be available until after the May 2022 Cap-and-Trade auction once final determination of proceeds is made. At this work group, CARB staff will present their proposal for implementing the following Clean Transportation Equity projects: Financing Assistance for Lower-Income Consumers, Clean Mobility Options, Clean Mobility in Schools, Sustainable Transportation Equity Project, Access Clean California, Technical Assistance, Capacity Building, and Workforce Training and Development to comply with Budget Act requirements. Staff will also address stakeholder questions or concerns.

Jan 26, 2022 10:00 AM in Pacific Time (US and Canada)

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