(a) Except as provided in subdivision (b), the Department of Finance shall submit to the Legislature, in bill format, on or before January 10, 2013, a proposal that provides a detailed spending plan for the expenditure of moneys in the fund that includes the components specified in subdivision (b).
(b) Subdivision (a) shall not apply if the Legislature passes a bill on or before August 31, 2012, that becomes law specifying a process for the establishment of the long-term spending strategy for moneys in the fund that includes all of the following components:
(1) Criteria and requirements for use of these moneys.
(2) Establishment of program categories eligible for funding.
(3) The specification of a public process that the State Air Resources Board shall use to develop the strategy.
(4) The role of the Legislature in reviewing the strategy.
(Added by Stats. 2012, Ch. 39, Sec. 25. (SB 1018) Effective June 27, 2012.)
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