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On May 28, 2015, the Air Resources Board released summary results from the cap-and-trade auction conducted on May 21, 2015. Based on the summary results, the state will collect about $630 million in cap-and-trade auction revenue from the May auction. Combined with the $860 million in revenue raised from the previous three auctions conducted in 2014-15, the total amount of 2014-15 revenue will likely be about $1.49 billion, or $140 million more than the Governor’s May Revision assumes.