Assembly introduces Climate and Community Investment Act (CCIA); “same as” Senate CCIA bill, SEA bill assessment changed from “Bill to Watch” to “Key Bill”

As discussed in Flash Update 21-12, the New York legislature held a Joint Public Hearing on April 13 to discuss and receive input from stakeholders on the Climate and Community Investment Act (CCIA), bill S4264a. An archive video of the hearing has not yet been posted. If enacted, the CCIA would set a price for greenhouse gas emissions and co-pollutants with the intention of generating significant revenue (approximately $15 billion), which would be re-directed through a newly established Climate and Community Investment Authority into communities, to foster a clean energy economy and address local needs for energy and employment.

On April 15, the Assembly introduced a “same as” bill to the Senate version of the CCIA, bill A6967. As the joint hearing indicated renewed political attention to this bill, this Assembly action establishes that individual lawmakers in each chamber are supportive of the bill, an important sign that the bill has greater potential to pass both chambers and ultimately be sent to the Governor for consideration. As such, SEA has changed our assessment on this bill from a “Bill to Watch” to a “Key Bill,” and will continue to report on actions around this bill(s) in our regular and special Flash Updates. The next expected action on this bill(s) is that it will be put on agenda for consideration by its respective legislative committees (referred to Environmental Conservation committees in both chambers).