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This Heads Up discusses accounting and reporting considerations related to the Supreme Court’s decision to strike down the tariffs imposed by President Trump under the International Emergency Economic Powers Act.

In a public hearing held on February 26, 2026, the California Air Resources Board (CARB) approved the adoption of the regulation to establish the administration and implementation fees under the Climate Corporate Data Accountability Act (SB 253) and the Climate-Related Financial Risk Act (SB 261), as well as the first-year reporting deadline under SB 253.

The SEC has adopted final amendments to certain of its rules and forms under the Exchange Act to reflect the requirements of the HFIA Act.

The GASB has released a proposed implementation guide containing Q&As that would clarify the requirements for subsidies in Statement No. 103, Financial Reporting Model Improvements.