Henry Stern
- Democratic
- Senator
- District 27
Author
The California Global Warming Solutions Act of 2006 requires the State Air Resources Board to adopt regulations to require the reporting and verification of statewide greenhouse gas emissions and to monitor and enforce compliance with the act. The act requires the state board to make available, and update at least annually, on its internet website the emissions of greenhouse gases, criteria pollutants, and toxic air contaminants for each facility that reports to the state board, as provided. This bill would require, on or before January 1, 2026, and biennially thereafter, a covered entity, as defined, to prepare a climate-related financial risk report disclosing the entity's climate-related financial risk and measures adopted to reduce and adapt to climate-related financial risk. The bill would require the covered entity to make a copy of the report available to the public on its own internet website. The bill would require the state board to contract with a climate reporting organization, as defined, to biennially prepare a public report that contains specified information, including a review of the disclosure of climate-related financial risk contained in a subset of publicly available climate-related financial risk reports and an analysis of the systemic and sectorwide climate-related financial risks facing the state. The bill would require the state board to adopt regulations that authorize it to seek administrative penalties from covered entities for failing to make the report publicly available on its internet website or publishing an inadequate or insufficient report, as specified. The bill would require covered entities to pay an annual fee for the state board's actual and reasonable costs to administer and implement the bill. The bill would create the Climate-Related Financial Risk Disclosure Fund, require the proceeds of the fees to be deposited in the fund, and continuously appropriate the moneys in the fund to the state board for purposes of the bill. By creating a continuously appropriated fund, the bill would make an appropriation.
Chaptered by Secretary of State. Chapter 383, Statutes of 2023.
Approved by the Governor.
Enrolled and presented to the Governor at 4:30 p.m.
Assembly amendments concurred in. (Ayes 28. Noes 8. Page 2744.) Ordered to engrossing and enrolling.
Read third time. Passed. (Ayes 47. Noes 17. Page 3315.) Ordered to the Senate.
In Senate. Concurrence in Assembly amendments pending.
Assembly Rule 69 suspended.
Ordered to third reading.
Read third time and amended.
Read second time. Ordered to third reading.
Read second time and amended. Ordered to second reading.
From committee: Do pass as amended. (Ayes 11. Noes 4.) (September 1).
August 16 set for first hearing. Placed on suspense file.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 8. Noes 3.) (July 10).
June 26 set for first hearing canceled at the request of author.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on NAT. RES.
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 27. Noes 8. Page 1361.) Ordered to the Assembly.
Read second time. Ordered to third reading.
Read second time and amended. Ordered to second reading.
From committee: Do pass as amended. (Ayes 4. Noes 2. Page 1162.) (May 18).
Set for hearing May 18.
May 8 hearing: Placed on APPR suspense file.
Set for hearing May 8.
May 1 hearing postponed by committee.
Set for hearing May 1.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 1. Page 798.) (April 18). Re-referred to Com. on APPR.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.
Set for hearing April 18.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.
From committee: Do pass and re-refer to Com. on JUD. (Ayes 4. Noes 2. Page 353.) (March 15). Re-referred to Com. on JUD.
Set for hearing March 15.
From printer. May be acted upon on or after March 2.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB261 | HTML |
| 01/30/23 - Introduced | |
| 03/27/23 - Amended Senate | |
| 04/10/23 - Amended Senate | |
| 05/18/23 - Amended Senate | |
| 06/19/23 - Amended Assembly | |
| 07/12/23 - Amended Assembly | |
| 09/01/23 - Amended Assembly | |
| 09/08/23 - Amended Assembly | |
| 09/15/23 - Enrolled | |
| 10/07/23 - Chaptered |
| Document | Format |
|---|---|
| 03/13/23- Senate Environmental Quality | |
| 04/14/23- Senate Judiciary | |
| 05/05/23- Senate Appropriations | |
| 05/18/23- Senate Appropriations | |
| 05/23/23- Sen. Floor Analyses | |
| 07/07/23- Assembly Natural Resources | |
| 08/14/23- Assembly Appropriations | |
| 09/05/23- ASSEMBLY FLOOR ANALYSIS | |
| 09/08/23- ASSEMBLY FLOOR ANALYSIS | |
| 09/12/23- Sen. Floor Analyses |
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