By Chris Megerian
California will use cap-and-trade revenue for a massive investment in clean trucks, buses, cars and other vehicles, according to details of an agreement obtained by The Times on Monday evening.
The $1.5-billion spending plan comes less than two months after lawmakers extended the state’s cap-and-trade program, which requires companies to buy permits to emit greenhouse gases, until 2030.
The biggest-ticket item is $895 million for new vehicles, a priority repeatedly highlighted by Senate Democrats. The money would flow through a variety of programs, including $140 million to the state's ports, $85 million for farm vehicles and $140 million for electric car rebates.