Cap & Trade Deal Reached, Almost, Ensuring Money for Transit, Affordable Homes, Sustainable Communities

Governor Jerry Brown and the Legislature reached a budget agreement yesterday that includes a breakdown on how to spend Cap & Trade dollars and that ensures funding for public transit, affordable homes and sustainable communities (defined as within a quarter mile of transit). The Legislature will make the decision final on Sunday -- though the breakdown will probably be fine-tuned between now and then. Here's how the agreement would spend the $872 million in Cap & Trade revenues available this year (read more on the blog of the Oakland-based nonprofit organization Transform):
*  $250M for high-speed rail
*  $25M for transit and intercity rail capital
*  $25M for low-carbon transit operations
*  $65M for affordable housing
*  $65M for sustainable communities
*  $200M for low-carbon transportation

Beginning in 2015, 35% of Cap & Trade revenues -- expected to rise to $3-$5B by 2020 -- will be spent on sustainable communities according to this breakdown:
*  10% for transit and intercity rail capital
*  5% for low-carbon transit operations
*  20% for affordable housing and sustainable communities

The remaining 65% would be distributed this way:
*  25% for high-speed rail on an annual basis
*  40% for a variety of projects with specific amounts to be decided each year, including: low-carbon transportation, energy efficiency, urban forestry, forestry, water, waste.

Again, read more on Transform's blog.

Donate Volunteer Find an Event


get updates