Overview

• Identical bills AB 1207 and SB 840 would reauthorize cap-and-trade through 2045, with leaders expecting votes before the Friday deadline.
• Funding rules would shift to fixed allocations for housing and transportation, add a new $250 million continuous appropriation for AB 617, and prioritize High-Speed Rail if auction revenues fall short.
• The plan would gradually reduce free emissions allowances for oil and gas starting in 2030, while keeping the auction-based system largely intact.
• AB 825 would open a path to a regional Western power market, with supporters citing bill savings and opponents warning of weaker state control over clean-energy policy.
• SB 237 would streamline approvals for new wells in Kern County and tighten offshore pipeline oversight, proposed as refineries representing roughly 18% of state capacity prepare to close.