The California Air Resources Board (CARB or Board) invites you to participate in a virtual public work group meeting to discuss staff’s proposal for implementing the Fiscal Year (FY) 2021-22 Clean Transportation Equity project safeguards for Cap-and-Trade auction revenue uncertainty. The FY 2021-22 Funding Plan for Clean Transportation Incentives (Funding Plan) was approved by the Board on November 19, 2021. This includes a funding allocation of $150 million for Clean Transportation Equity projects. The Funding Plan relies in part on future revenues generated at auctions in the upcoming fiscal year. Section 15.14 of the Budget Act of 2021 (Budget Act) specifies that “no department shall encumber or commit more than 75 percent of any appropriation prior to the fourth Cap-and-Trade auction in the 2021-22 fiscal year.” To account for uncertainties in the proceeds that will be generated from Cap-and-Trade auctions, CARB is required to not encumber 25 percent of the Low Carbon Transportation appropriation until the fourth auction is completed, which is expected to occur in May 2022. Thus, $37.5 million of the $150 million in funding allocated to Clean Transportation Equity projects will not be available until after the May 2022 Cap-and-Trade auction once final determination of proceeds is made. At this work group, CARB staff will present their proposal for implementing Clean Transportation Equity projects to comply with Budget Act requirements. Staff will also address stakeholder questions or concerns.

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Agenda and handout 

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