CA SB1329

Establishes the Climate Innovation Grant Program administered by the Strategic Growth Council to award grants for research and development of technologies that reduce greenhouse gas emissions or address climate change impacts, including carbon sequestration, air pollution removal, clean energy, transportation, water quality, and soil quality improvements.

Creates the Climate Innovation Fund in the State Treasury that will be continuously appropriated to the Strategic Growth Council once the fund accumulates $2,000,000; allows up to 10 percent of moneys to cover administration costs.

Allows individual taxpayers to voluntarily contribute amounts exceeding their personal income tax liability to the Climate Innovation Voluntary Tax Contribution Account on their tax returns, with contributions deductible as charitable donations.

Requires the Strategic Growth Council to notify the Franchise Tax Board when the fund reaches $2,000,000 and to develop solicitation criteria, evaluation standards, and annual reporting to the Legislature on program finances and accomplishments.

Repeals the program on January 1, 2031, and repeals the voluntary tax contribution provisions if annual contributions fall below $250,000 or by January 1, 2031, whichever is earlier.