CA AB1992

Authorizes the State Air Resources Board to establish a very low carbon fuel market commitment program requiring fuel wholesalers, producers, importers, and retailers to include specified percentages of very low carbon transportation fuel in their sales.

Defines very low carbon transportation fuel as liquid or gaseous fuel with no greater than 50 percent the carbon intensity of comparable petroleum fuel, measured using Low-Carbon Fuel Standard methodology and including indirect land use change emissions.

Allows the state board to set required percentages of very low carbon fuel sales between 0.25 percent and 2 percent, measured in energy equivalent units.

Requires the state board to notify the Secretary of State when very low carbon fuel reaches 2 percent of all transportation fuel sales in California, after which this section becomes inoperative five years from that notification.

Does not replace or modify existing Low-Carbon Fuel Standard regulations or other fuel standards currently in effect.