The 2026-27 Budget: Cap-and-Invest Expenditure Plan

Feb 10, 2026 - Additionally, CARB still is considering linking California’s cap‑and‑invest program with the program in Washington state. Such a linkage could affect allowance prices in both states as they come into alignment.
https://lao.ca.gov/Publications/Report/5114

The 2023-24 Budget: California Department of Forestry and Fire Protection’s Major Capital Outlay Proposals

Feb 21, 2023 - Essentially, it will want to consider whether it wants to make reductions —either those proposed by the Governor or equivalent alternatives —to free up resources for this project. In our view, this proposal does not meet that higher bar.
https://lao.ca.gov/Publications/Report/4693

The 2026-27 Budget: Framework for Approaching the Natural Resources, Environmental Protection, and Agriculture Budget

Feb 10, 2026 - Recommended Framework for Approaching Environment Budget Decisions Below, we offer a framework for approaching environment budget decisions in today ’s challenging fiscal circumstances —namely , how to evaluate the Governor ’s new spending proposals across CNRA, CalEPA, and CDFA in the context of a General Fund condition that is only precariously balanced in the near term and faces significant deficits in the coming years.
https://lao.ca.gov/Publications/Report/5116

California’s Cap-and-Trade Program: Frequently Asked Questions

Oct 24, 2023 - More recently, Chapter  135 of 2017 (AB  398, Garcia) authorized the program through 2030 and modified certain aspects of the program design, including placing new limits on the use of offsets and making some changes to the distribution of free allowances.
https://lao.ca.gov/Publications/Report/4811

Cap-and-Trade Extension: Issues for Legislative Oversight

Dec 12, 2017 - An allowance issued today can be purchased today and used to cover emissions in a future year —a design feature commonly known as banking. Since the annual cap on emissions becomes more stringent in later years, banking gives firms an incentive to obtain extra allowances in early years as a way to protect against the risk of higher prices in later years when allowances are more scarce.
https://lao.ca.gov/Publications/Report/3719

The 2022-23 Budget: Fuel Price and Other Fiscal Relief Options

May 12, 2022 - Provide free transit services. a a Included in Governor ’s proposed package of actions. b Governor proposed deferring scheduled inflation increases to gasoline and diesel excise tax rates in 2022 ‑23.
https://lao.ca.gov/Publications/Report/4597

The 2026-27 Budget: California Public Utilities Commission’s Implementation of AB 1207

Feb 10, 2026 - These free allowances are intended to protect electric consumers from significant cost increases associated with the program. To that end, utilities are required to consign most of these free allowances to auction and use the proceeds to provide rebates to consumer s, known as the “California Climate Credit. ” These rebates currently are provided to residential customers each year in April and October.
https://lao.ca.gov/Publications/Report/5120

The 2025-26 Budget: Proposition 4 Spending Plan

Feb 12, 2025 - However, the proposal does not fully describe the links between those goals and individual spending decisions. For  example, the proposal does not set a goal for how many additional acre ‑feet of water will be recycled because of Proposition  4 investments.
https://lao.ca.gov/Publications/Report/4958

Assessing California’s Climate Policies—Cap-and-Trade Reauthorization

May 7, 2025 - The board has indicated that it plans to propose new regulations that will further tighten the emissions cap by removing a greater number of allowances from the program in 2026 through 2030 than would currently be the case.
https://lao.ca.gov/Publications/Report/5042

The 2017-18 Budget: Cap-and-Trade

Feb 13, 2017 - Some of the advantages of auctions include: Easier Treatment for New Entrants. Auctions treat new and existing companies equally because they all have to purchase allowances. New companies see the same cost as competitors when entering the market.
https://lao.ca.gov/Publications/Report/3553