CA AB2390

Requires the State Treasurer to establish a Green Credit Reserve by June 30, 2015, to purchase Low Carbon Fuel Standard (LCFS) and Renewable Fuel Standard (RFS) credits from developers of renewable and low-carbon transportation fuel projects in California

Reserve shall enter long-term contracts with fuel producers to purchase LCFS and RFS credits at guaranteed prices to provide financing stability and predictability for project development

Contracts may cover fuel production periods up to 15 years after facility startup, with guaranteed purchase prices established at contract execution to support project financing

Eligible projects include facilities producing transportation fuels from agricultural waste, livestock waste, food processing waste, forest waste, landfill gas, wastewater biosolids, and other organic waste

Reserve shall manage credit purchasing and sales to minimize financial risk to the state and coordinate with the State Air Resources Board to develop criteria and guidelines