SB 1018 Summary

• Reduces authorized bonded indebtedness for multiple state bond acts including school facilities bonds, library construction, parks, and safe drinking water programs by specified amounts.

• Establishes the Greenhouse Gas Reduction Fund to receive revenue from the auction or sale of allowances under California's cap-and-trade program, with requirements for agency spending records and legislative oversight of market-based compliance mechanism linkages.

• Expands milk producer permitting and inspection fee requirements to manufacturing milk producers; increases license fees for frozen milk products plants and related dairy industry services.

• Eliminates or repeals multiple environmental remediation programs including the Salton Sea Restoration Council, expedited remedial action programs, and hazardous waste remediation authorities while consolidating environmental assessment requirements.

• Creates state parks revenue incentive programs including a new enterprise fund for park-generated revenues, establishes special state parks environmental license plates, and transfers $10-13 million in bond funds to parks for sustainable funding initiatives through June 30, 2016.