California Governor Edmund G. Brown Jr. today signed AB 398 by Assemblyman Eduardo Garcia.

The bill extends and improves the California cap-and-trade program . In signing the legislation today the Governor said , " California is leading the world in dealing with a principal existential threat that humanity faces. We are a nation-state in a globalizing world and we're having an impact and you're witnessing one of the key milestones in turning around this carbonized world into a decarbonized , sustainable future. "

The legislation extends the cap-and-trade program by 10 years and makes several changes to ensure that carbon pollution will decrease as the program's emissions cap declines; Cuts the use of out-of-state carbon offsets; Designates the California Air Resources Board as the statewide regulatory body; Decreases free carbon allowances over 40% by 2030 and prioritizes cap-and-trade spending to ensure funds go where they are needed most.