HB 1235 Summary

• Requires state agency contracts containing climate expenditures to specify the total cost, intended carbon dioxide equivalent reduction in metric tons, and cost per metric ton of reduction.

• Mandates contractors who fail to meet performance standards must either provide certified carbon offsets for the shortfall or refund a portion of contract funds to align actual costs with intended cost per metric ton.

• Requires the office of management and budget to regularly audit climate expenditure contracts to verify contractors meet performance standards for cost per metric ton of emissions reductions.

• Mandates state agencies submit semiannual reports to the office of management and budget and general assembly detailing contractor performance, including intended versus actual carbon dioxide equivalent reductions and associated costs.

• Applies to contracts entered into or renewed after June 30, 2011, and becomes effective July 1, 2011.