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Bill to reshape Climate Commitment Act accounts draws praise and criticism at Ways & Means hearing
Summary
Committee staff briefed senators on 2SSB 2251, which would collapse several CCA accounts into two (operating and capital), alter revenue distributions and reporting cadence; witnesses praised updates to investment categories while critics warned changes could weaken effectiveness oversight.
The Senate Ways and Means Committee took testimony Feb. 24 on engrossing second substitute House Bill 2,251, a bill that restructures the Climate Commitment Act (CCA) accounts. Committee staff said the bill would repeal three current CCA accounts and replace them with two new accounts — a CCA operating account and a CCA capital account — and outlined how revenue would be distributed and new allowable uses.
Staff summary: "The bill before you would repeal 3 of the 5 current CCA accounts and replace them with 2 accounts," Michael Buzantzen said, adding that the proposal clarifies…
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