Calif. Assembly Passes Bill To Tap Cap-And-Trade Funds

Law360, San Diego (May 29, 2012, 8:24 PM EDT) -- A measure seeking to establish a process for making use of revenue collected from California’s cap-and-trade auctions picked up enough votes Tuesday to pass out of the state Assembly, despite opposition from Republicans who said the bill would drive away businesses.

The full state Assembly voted 47-26 to push through the bill, carried by Assembly Speaker John Perez, D-Los Angeles, which aims to create a greenhouse gas reduction account within the air pollution control fund and use funds to “facilitate the achievement of feasible and cost-effective...
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