CA SB1268

Establishes the Natural Resources Climate Improvement Program to be administered by the State Air Resources Board in coordination with the Natural Resources Agency, focusing on natural resources projects that reduce greenhouse gas emissions or increase carbon sequestration.

Authorizes funding from the Greenhouse Gas Reduction Fund to support the program upon legislative appropriation.

Requires the state board and Natural Resources Agency to develop guidelines ensuring projects use consistent accounting methods, promote climate adaptation and resilience, align with regional land use plans, and are selected through competitive processes based on emissions reductions.

Tasks state conservancies and the Wildlife Conservation Board with identifying and implementing eligible projects including land restoration, agricultural incentives, carbon sequestration research, and organic waste diversion programs.

Requires greenhouse gas reductions from funded projects cannot be sold as offsets through market-based compliance mechanisms and prioritizes projects with regional implementation, ability to leverage additional funding, and potential for replication.