"California will spend $900 million in revenues raised by its cap-and-trade program for carbon emissions and hold back $462 million for later under a deal reached yesterday by Gov. Jerry Brown (D) and Senate and Assembly leaders.
Funds will go to local transit and rail; rebates for electric and other clean cars; efforts attacking short-lived climate pollutants; paying for solar, insulation and other energy upgrades on homes of low-income residents; and adding green spaces to low-income neighborhoods.
The amount is $300 million less than the $1.2 billion the Senate sought to spend in a plan unveiled last week. But Brown and Assembly Speaker Anthony Rendon (D) wanted to keep more money in reserves."