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May revision shifts greenhouse-gas funds to Cal Fire and proposes $1 billion annual floor for high-speed rail
Summary
The administration's May revision proposes shifting $1.5 billion from the general fund into the Greenhouse Gas Reduction Fund to support CAL FIRE operations and asking for at least $1 billion annually for the High‑Speed Rail Authority, moves that would reshape discretionary GGRF spending.
The May revision presented by the Department of Finance proposes a notable reallocation of greenhouse-gas auction proceeds and other GGRF priorities tied to the state's budget fix. The administration's top GGRF priorities are continued funding for the High-Speed Rail Authority and a general‑fund shift to the greenhouse gas reduction fund to support CAL FIRE operations.
"The administration's top two priorities are continued funding for the high speed rail authority, of at least $1,000,000,000 annually, and a general fund solution to shift $1,500,000,000 from the general fund to the greenhouse gas reduction fund to support fire prevention, fire control, and resource management operations costs at CAL FIRE," Andrew March of the Department of Finance said.
The May revision also proposes a GGRF backstop to protect CAL FIRE operations in the event auction proceeds fall short; Finance officials said they would use general‑fund resources in that case to keep CAL FIRE whole. Rachel…
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