By Allen Young, Sacramento Business Journal.
Back in June, the Brown administration announced that it would carve out more than $1 billion in expected cap-and-trade revenue from the budget discussion because lawmakers couldn’t agree on how to spend the money.
As lawmakers quarreled and attempted to direct funds into their individual districts, funding proposals included everything from road repairs to mosquito research. But as the dust cleared after last Friday’s legislative deadline, $969 million in cap-and-trade remained unspent.
The state will now hold onto those funds until January, when the governor proposes a spending plan for the new fiscal year.