CA AB398

Extends the state's market-based cap-and-trade system for greenhouse gases from 2020 through December 31, 2030, with new price controls, offset limits, and industry assistance requirements until January 1, 2031.

Suspends the state fire prevention fee effective July 1, 2017, and declares intent that revenue from cap-and-trade allowance auctions replace the suspended fee to fund fire prevention activities through 2030.

Expands sales and use tax exemptions for manufacturing and electric power generation through July 1, 2030, to include equipment and buildings used in electric power generation, production, storage, and distribution.

Establishes the Compliance Offsets Protocol Task Force and Independent Emissions Market Advisory Committee to provide guidance on offset projects and monitor the market-based compliance mechanism's environmental and economic performance until January 1, 2031.

Requires the California Workforce Development Board to report by January 1, 2019, on workforce development needs for industry and worker transitions related to greenhouse gas reduction goals, and requires the Legislative Analyst's Office to annually report on economic impacts of emissions targets.