Bill Text: CA AB2793 | 2021-2022 | Regular Session | Amended
Bill Title: Greenhouse gases: market-based compliance mechanism.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2022-05-26 - Read third time. Refused passage. (Ayes 33. Noes 27.). [AB2793 Detail]
Download: California-2021-AB2793-Amended.html
|
Amended
IN
Assembly
March 24, 2022 |
CALIFORNIA LEGISLATURE—
2021–2022 REGULAR SESSION
Assembly Bill
No. 2793
| Introduced by Assembly Member Muratsuchi |
February 18, 2022 |
An act to add Section 38562.2 to the Health and Safety Code, relating to greenhouse gases.
LEGISLATIVE COUNSEL'S DIGEST
AB 2793, as amended, Muratsuchi.
California Greenhouse Gas Cap-and-Trade Program. Greenhouse gases: market-based compliance mechanism.
The California Global Warming Solutions Act of 2006 designates the State Air Resources Board as the state agency charged with monitoring and regulating sources of emissions of greenhouse gases. The state board is required to ensure that statewide greenhouse gas emissions are reduced to at least 40% below the 1990 level by 2030. The act authorizes the state board to include the use of market-based compliance mechanisms in regulating greenhouse gas emissions. The act requires the state board to prepare and approve a scoping plan for achieving the maximum technologically feasible and cost-effective reductions in greenhouse gas emissions and to update the scoping plan at least once every 5 years.
This bill would require the state board, in
consultation with the Independent Emissions Market Advisory Committee, on a triennial basis, to conduct an evaluation of the market-based compliance mechanism to determine its effectiveness in meeting the goals of the act. This bill would require the state board to adopt public banking metrics that track the number of unused compliance instruments in public and private accounts on an annual basis. The bill would require the chairperson of the state board to appear before the Joint Legislative Committee on Climate Change Policies to present the results of the evaluation and specified proposed revisions to the regulations implementing the market-based compliance mechanism. The bill would authorize, following the chairperson’s appearance before the Joint Legislative Committee on Climate Change Policies, the state board to revise the regulations implementing the market-based compliance mechanism so that the mechanism can more effectively meet the goals of the act and objectives specified in the most recent
scoping plan.
This bill would state the intent of the Legislature to enact subsequent legislation to require a program review of the California Greenhouse Gas Cap-and-Trade Program
adopted by the state board pursuant to the California Global Warming Solutions Act of 2006.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee:Bill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 38562.2 is added to the Health and Safety Code, to read:38562.2.
(a) The state board shall, on a triennial basis, in consultation with the Independent Emissions Market Advisory Committee established pursuant to Section 38591.2, conduct an evaluation of the market-based compliance mechanism to determine its effectiveness in meeting the goals set forth in this division. The evaluation shall focus on both of the following:(1) Review how the mechanism is performing in achieving objectives specified in the most recent scoping plan adopted pursuant to Section 38561.
(2) Evaluate whether the supply of allowances and carbon offsets are consistent with the most recent scoping plan, as updated pursuant to Section 38561, and cap-and-trade regulation
documents, as updated pursuant to Section 38562.
(b) The state board shall, in consultation with the Independent Emissions Market Advisory Committee established pursuant to Section 38591.2, adopt public banking metrics that track the number of unused compliance instruments in public and private accounts on an annual basis.
(c) Following the evaluation conducted pursuant to subdivision (a), both of the following shall occur:
(1) In appearing before the Joint Legislative Committee on Climate Change Policies pursuant to subdivision (c) of Section 9147.10 of the Government Code, the chairperson of the state board shall present the results of the evaluation conducted pursuant to subdivision (a) and any revisions to the regulations implementing the market-based compliance mechanism, if any, the state board proposes to make
pursuant to subdivision (d).
(2) The state board shall provide the evaluation and any proposed regulatory revisions described in paragraph (1) to the appropriate policy and fiscal committees of the Legislature.
(d) Following the appearance of the chairperson of the state board before the Joint Legislative Committee on Climate Change Policies pursuant to subdivision (c), the state board may, consistent with Section 38562, revise regulations implementing the market-based compliance mechanism so that the mechanism can more effectively meet the goals of this division and the objectives specified in the most recent scoping plan.
It is the intent of the Legislature to enact subsequent legislation to require a program review of the California Greenhouse Gas Cap-and-Trade Program (Article 5 (commencing with Section 95801) of the Title 17 of the California Code of Regulations).
