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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 for transit passes, among other program allocations.
Nut graf: Supporters said the reforms strengthen the environmental integrity of offsets and protect revenues for community and infrastructure investments. Labor and environmental groups said the bill preserves jobs and funds critical projects; supporters urged an aye vote. The bill’s supporters stressed improvements to oversight and to channel funding to local air protection, transit, housing, wildfire prevention and other programs.
Supporters’ testimony Marian Borgeson of the Natural Resources Defense Council told the committee SB 8 40 strengthens the integrity of offsets by requiring protocol updates based on the best available science and by ensuring offsets provide direct benefits to California. She also said the bill reforms the expenditure process and provides flexibility while naming priority programs that need funding.
Keith Dunn of the State Building and Construction Trades Council supported the bill and emphasized the need for jobs that come from building the transition infrastructure. He urged the committee to consider that investments in the program create career pathways and economic opportunities while supporting climate goals.
Other stakeholders including transit, housing, conservation and air districts voiced support for dedicated and continuous funding for AB 617 and for funding that can be directed to transit, housing and nature‑based climate solutions.
Opposition and concerns No formal lead opposition witness for SB 8 40 appeared in the hearing record; the item was presented with broad stakeholder support. Several members asked for clarity on oversight mechanisms and the relationship between a legislative climate bureau, an innovation fund and how discretionary dollars would be distributed; the author and staff said details on some allocations and oversight mechanics would be worked through in subsequent sessions and budgetary processes.
Ending and follow‑up Sen. Limon urged support for SB 8 40 and for the package of companion measures to provide legislative certainty and maintain investments that support low‑income communities, transit, housing, clean drinking water and other community priorities funded by auction revenues. Committee members signaled a need for continued scrutiny of allocations and transparency as the Legislature moves forward.
