Carbon Dioxide Removal Purchase Program.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Vetoed
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
This bill establishes the Carbon Dioxide Removal Purchase Program, overseen by the California Air Resources Board. The program will provide competitive grants to support carbon dioxide removal projects within the state, aiming to accelerate the development and deployment of technologies needed to achieve California’s climate goals. The program will require the state board to conduct surveys, publish reports, and fund projects totaling $50 million over ten years, with specific guidelines and restrictions on grant amounts and project categories.
Key provisions
- Requires the state board to establish and administer a competitive grant process for carbon dioxide removal projects.
- Mandates the state board to conduct annual surveys and publish reports on carbon dioxide removal projects.
- Allocates $50 million in funding over ten years for eligible carbon dioxide removal projects.
- Sets limits on individual grant amounts to $25 million for qualified removals and $12.5 million for individual project sponsors.
- Requires funded projects to permanently retire contracted tons of removed carbon dioxide.
- Requires the state board to adopt guidelines for the program by January 1, 2028, aligning with relevant regulations.
- Establishes a minimum duration of 100 years for carbon dioxide storage to minimize leakage risks.
- Prohibits the use of carbon dioxide removal processes for enhanced oil recovery.
Who is affected
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