Written by The Business Journal Staff
The funding is meant to benefit Downtown Fresno, disadvantaged communities, support green transportation and protect natural ecosystems, according to a news release from the governor’s office.
The invitation-only signing ceremony, to be held at 11:30 a.m. on top of the city’s Spiral Parking Garage at 801 Van Ness Avenue, Downtown Fresno, is not open to the public.
According to the governor’s office, the bills to be signed include:
• AB 1613 by the Committee on Budget, which details the $900 million cap-and-trade investments in this year’s legislative appropriation
• SB 859 by the Committee on Budget and Fiscal Review, which provides statutory provisions for the $900 million 2016 cap-and-trade expenditure plan in AB 1613
• AB 1550 by Assemblymember Jimmy Gomez (D-Los Angeles), which modifies the current requirement that 25 percent of auction proceeds benefit disadvantaged communities with 10 percent spent directly in those communities. The new rules require at least 25 percent of funds go to projects within and benefitting disadvantaged communities and at least 10 percent for low-income households.
• AB 2722 by Assemblymember Autumn R. Burke (D-Inglewood), which directs cap-and-trade funds to a competitive grant program administered by the Strategic Growth Council for greenhouse gas emission reduction projects that provide local economic, environmental and health benefits to disadvantaged communities.