News Story

On July 15, 2024, Assembly Bill (AB) 2731, sponsored by Assemblymember Carrillo, was signed into law by Governor Newsom. This change allows the addition of qualified carbon dioxide capture facilities as a new, eligible project type for the issuance of private activity Tax-Exempt Bonds within the CPCFA Bond Program.

A recent report by the Lawrence Livermore National Laboratory and the Clean Air Task Force identifies carbon dioxide capture storage as a tool that can be helpful to California’s goal to become carbon-neutral. At this time the only projects of this type that we are aware of being planned for California are pilot projects funded by the National Energy Commission.  Adding carbon dioxide capture facilities to our qualified project list places CPCFA in the position to assist in financing projects as the technology emerges.