SB 706: Greenhouse Gas Reduction Fund: alternative fuels.

Existing law establishes the Greenhouse Gas Reduction Fund and requires moneys collected by the State Air Resources Board from the auction or sale of allowances pursuant to a market-based compliance mechanism authorized under the California Global Warming Solutions Act of 2006 be deposited in the fund. Existing law authorizes moneys in the fund, upon appropriation by the Legislature, to be used for, among other things, the reduction of greenhouse gas emissions through the development of advanced biofuels.

This bill would authorize the use of the moneys in the fund to encourage the in-state production of alternative fuels with low carbon intensity from new and existing facilities using sustainable feedstocks.