Bill Text: CA AB858 | 2023-2024 | Regular Session | Introduced
Bill Title: California Climate Cashback Program.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2024-02-01 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB858 Detail]
Download: California-2023-AB858-Introduced.html
CALIFORNIA LEGISLATURE—
2023–2024 REGULAR SESSION
Assembly Bill
No. 858
| Introduced by Assembly Member Muratsuchi |
February 14, 2023 |
An act to add Part 5.5 (commencing with Section 38577) to Division 25.5 of the Health and Safety Code, relating to greenhouse gases.
LEGISLATIVE COUNSEL'S DIGEST
AB 858, as introduced, Muratsuchi.
California Climate Cashback Program.
Existing law establishes the State Air Resources Board as the state agency responsible for monitoring and regulating sources emitting greenhouse gases. Existing law, the California Global Warming Solutions Act of 2006, requires the state board to ensure that statewide greenhouse gas emissions are reduced to at least 40% below the 1990 level by 2030. Existing law declares the policy of the state to achieve net zero greenhouse gas emissions as soon as possible, but no later than 2045, and to achieve and maintain net negative greenhouse gas emissions thereafter.
This bill would establish the California Climate Cashback Program to be administered by the Franchise Tax Board for the purpose of mitigating the costs of transitioning to a low-carbon economy. The bill would require the Franchise Tax Board to develop and implement the program to deliver
quarterly per capita cashback payments to all residents of the state and to maximize the ease with which residents of the state may enroll in the program, as specified. The bill would require moneys in the California Climate Cashback Fund, which the bill would create, to be allocated for this purpose, upon appropriation by the Legislature.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
Part 5.5 (commencing with Section 38577) is added to Division 25.5 of the Health and Safety Code, to read:PART 5.5. California Climate Cashback Program
38577.
The California Climate Cashback Fund is hereby created in the State Treasury. Moneys in the fund shall be allocated, upon appropriation by the Legislature, pursuant this part.38577.2.
The California Climate Cashback Program is hereby established to be administered by the Franchise Tax Board for allocation of the moneys in the California Climate Cashback Fund, in the form of cashback payments to all residents of the state on a per capita basis pursuant to Section 38577.4 for the public purpose of mitigating the costs of transitioning to a low-carbon economy.38577.4.
(a) On or before December 31, 2024, the Franchise Tax Board, shall develop and implement the program established pursuant to this part to deliver quarterly per capita cashback payments to all residents and shall maximize the ease with which residents may enroll in the program. The program may include the automatic enrollment of residents who have filed a state income tax return in the prior year.(b) In determining the per capita cashback payment amount, the Franchise Tax Board shall employ reasonable estimates of expected revenue collection to be deposited in the California Climate Cashback Fund and the projected number of residents, setting aside reasonable reserve margins from period to period to ensure that the per capita cashback payment
does not deplete available moneys in the California Climate Cashback Fund.
