|Gov Jerry Brown|
The money will go toward energy efficiency retrofits and solar installations for low-income communities, low-carbon transportation, transit-friendly planning and other programs. Brown is expected to propose a budget of $154.9 billion.
AAEA supports Governor Brown's budget proposal and we are particularly pleased that a quarter of the funds will benefit disadvantaged communities
Brown plans to return $100 million of the $500 million he borrowed last year from the cap-and-trade account, which is projected to grow to $850 million over the next fiscal year as the state continues its economywide carbon trading system.
Brown appears to be complying with a bill he signed in 2012, S.B. 535, which reserves 25 percent of the market's proceeds for projects that help communities with low income, high unemployment, low levels of homeownership or other economic disadvantages. (E&E Publishing, 1/9/2014)