California Air Resources Board

Requires the California Environmental Protection Agency (CalEPA) to conduct a study on the costs of climate change to the State and requires responsible parties with greenhouse gas emissions greater than 1 billion metric tons globally from 1990 to 2024 to pay a cost recovery demand proportionate to their share of emissions compared to total anthropogenic greenhouse gas emissions. Authorizes responsible parties to pay the cost recovery demand in 20 annual installments, with the first installment equaling 10%of the cost recovery demand. Creates the Polluters Pay Climate Fund and continuously appropriates the funding generated by the cost recovery demands to the Fund for projects that avoid, mitigate, repair, or adapt to negative climate change impacts, with a minimum of 40%of funded projects benefitting environmental justice populations. Was not heard in the Assembly Natural Resources Committee at the request of the author.

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