0:14 → 3:18(3m 4s)
Chair Blake Spear opened the joint hearing of the Senate Environmental Quality Committee and Senate Budget Subcommittee No. 2, framed the session’s purpose and listed panelists (CARB Chair Lauren Sanchez, LAO Helen Kerstein, and Department of Finance Andrew March). The chair said the hearing would focus on whether CARB’s proposed April amendments to the Cap and Invest regulations faithfully execute legislative intent.
A joint Senate Environmental Quality Committee and Budget Subcommittee hearing examined CARB's April amendments to the Cap and Invest regulations, focusing on the new Manufacturing Decarbonization Incentive (MDI), changes to allowance allocation, and possible reductions to the Greenhouse Gas Reduction Fund (GGRF). Legislators pressed CARB, the LAO and Department of Finance for details on emissions integrity, fiscal impacts and guardrails; many public commenters urged removal or revision of MDI.
