Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance and LAO outline cap‑and‑trade revenues and GGRF plan; committee urged to monitor auction volatility
Summary
Department of Finance summarized lowered auction revenue estimates and the governor's cap‑and‑trade discretionary spending plan; LAO recommended monitoring revenues and expressed concerns about shifts from GGRF to Proposition 4 funds to support the motor vehicle account.
The subcommittee received an overview of the governor’s cap‑and‑trade revenue estimates and the proposed greenhouse gas reduction fund (GGRF) discretionary spending plan.
Brandon Merritt of the Department of Finance said the governor’s budget estimates auction revenues for 2024‑25 at roughly $4.1 billion — about $600 million lower than prior estimates — and projected 2025‑26 auction revenues of approximately $4.2 billion. Finance noted strong interest earnings…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
