CA AB2404

Creates the Local Emission Reduction Program to provide local assistance grants for developing and implementing multibenefit greenhouse gas emission reduction projects

Permits moneys collected from market-based compliance mechanisms under the Global Warming Solutions Act to be appropriated for purposes of carrying out the program

Designates the Strategic Growth Council to administer the program and award grants on a competitive basis to counties or combinations of counties with state board-certified local greenhouse gas emission reduction plans

Eligible projects must seek to achieve greenhouse gas reductions through initiatives such as energy efficiency, clean energy development, natural resource conservation, climate resilience, and local job creation

Requires state board coordination with the Strategic Growth Council and other state entities to develop standards ensuring funded projects maximize appropriations, provide environmental and economic benefits, and comply with regulatory fee requirements