Vetoed by Governor Chris Christie

Vote Smart's Synopsis:

Vote to pass a bill that requires certain qualified participants to adhere to the Regional Greenhouse Gas Initiative.

Highlights:

• Establishes a greenhouse gas emissions allowance trading program to reduce or prevent the emission of greenhouse gases (Sec. 2).

• Requires qualified participants to adhere to the Regional Greenhouse Gas Initiative by participating in the greenhouse gas emissions allowance trading program (Sec. 2).

• Requires the state to dedicate up to 100 percent of the revenues derived from the auction or other type of sale of the emissions allowance (Sec. 1).

• Requires the procedures and requirements for any auction or other sale of emissions allowance to be reviewed and commented on by the public as long as they are consistent with the rules and regulations adopted by the department (Sec. 2).

• Exempts any cogeneration facility or combined heat and power facility that is an “on-site generation facility” and sells less than 10 percent of its annual gross electrical generation from the requirement to purchase or acquire any allowances under the greenhouse gas emissions trading program (Sec. 2).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that requires certain qualified participants to adhere to the Regional Greenhouse Gas Initiative.

Highlights:

• Establishes a greenhouse gas emissions allowance trading program to reduce or prevent the emission of greenhouse gases (Sec. 2).

• Requires qualified participants to adhere to the Regional Greenhouse Gas Initiative by participating in the greenhouse gas emissions allowance trading program (Sec. 2).

• Requires the state to dedicate up to 100 percent of the revenues derived from the auction or other type of sale of the emissions allowance (Sec. 1).

• Requires the procedures and requirements for any auction or other sale of emissions allowance to be reviewed and commented on by the public as long as they are consistent with the rules and regulations adopted by the department (Sec. 2).

• Exempts any cogeneration facility or combined heat and power facility that is an “on-site generation facility” and sells less than 10 percent of its annual gross electrical generation from the requirement to purchase or acquire any allowances under the greenhouse gas emissions trading program (Sec. 2).

Full Bill Text