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Committee Hears Bill to Restructure Climate Commitment Act Accounts, Preserve Community Targets
Summary
A House Appropriations Committee public hearing reviewed HB 22-51, which would consolidate several Climate Commitment Act accounts into operating and capital CCA accounts, preserve overburdened-community and tribal spending goals, add new uses such as electric vehicles and commute-reducing housing, and change CCA reporting to biennial.
House Appropriations Committee members heard a staff briefing and public testimony on HB 22-51 on Jan. 30, a bill that would replace several Climate Commitment Act (CCA) accounts with two new accounts—CCA operating and CCA capital—and adjust how auction revenue is distributed and reported.
Dan Jones, staff to the committee for natural resource issues, told the panel that under current law Carbon Emissions Reduction Account (CIRA) receives about $359,000,000 “off the top” for transportation uses and that remaining auction revenue flows through accounts typically called the Climate Investment Account (CIA), the Natural Climate Solutions Account (NCSA) and the Climate Commitment account. HB 22-51 would repeal CIA, NCSA and the Climate Commitment account and allocate residual balances 80% to the new capital account…
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