Assembly Bill 1550, authored by Assemblymember Jimmy Gomez, will improve existing laws that use charges paid by polluters to increase clean energy, reduce smog and bring jobs and investment to communities that have the dirtiest air and the most economic needs. The bill will ensure equality in California’s climate investments for our state’s most under-served communities.
AB 1550 (Gomez) would:
- Increase fairness of climate investments by updating the minimum requirement from 10% to 25% of Greenhouse Gas Reduction Fund (GGRF) monies spent on projects located in disadvantaged communities, matching the need identified by the State of California.
- Target benefits of the state’s climate programs by ensuring at least 20% of GGRF monies directly benefit low-income households and communities both inside and outside disadvantaged communities.
- Increase equity by delivering climate investment benefits to more low-income Californians, increasing opportunities to improve quality of life for families and communities while reducing greenhouse gas emissions.
- Does not authorize any new fee or prescribe any specific investments.