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Sen. Limon’s SB 840 would tighten offsets and set spending priorities for greenhouse‑gas reduction funds
Summary
SB 840 (presented as SB 8 40 in committee) would reform the offset program by placing offsets under the cap, require regular protocol updates, increase legislative oversight, and set funding priorities for the Greenhouse Gas Reduction Fund including continuous AB 617 funding and transit pass allocations.
Senator Limon presented SB 8 40, a companion bill within the broader cap‑and‑invest reauthorization package that focuses on offset reforms, administrative oversight and clarifying how auction revenue is spent.
Limon said SB 8 40 would place offsets under the cap, require CARB to update offset protocols every five years using best available science, and include measures to ensure offsets deliver direct environmental benefits to Californians. The bill would also create an independent Legislative Counsel climate bureau unit to provide the Legislature with analysis and would revise the Greenhouse Gas Reduction Fund (GGRF) expenditure framework to identify priority investments such as $250 million annually for AB 617 community air protection (made continuous) and $125 million…
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