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CA AB858
Bill
Status
Failed
2/1/2024
Primary Sponsor
Al Muratsuchi
Click for details
AI Summary
- Establishes the California Climate Cashback Program to be administered by the Franchise Tax Board for mitigating costs of transitioning to a low-carbon economy
- Creates the California Climate Cashback Fund in the State Treasury to finance quarterly per capita cashback payments to all state residents upon legislative appropriation
- Requires the Franchise Tax Board to develop and implement the program by December 31, 2024, with automatic enrollment available for residents who filed a prior year state income tax return
- Directs the Franchise Tax Board to set per capita payment amounts based on reasonable estimates of fund revenue and projected resident population while maintaining reserve margins to prevent fund depletion
Legislative Description
California Climate Cashback Program.
Last Action
From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
2/1/2024
Committee Referrals
Natural Resources2/23/2023
Full Bill Text
No bill text available