Vote Smart's Synopsis:

Vote to pass a bill that requires producers of electricity to purchase rights to produce greenhouse gases.

Highlights:

- Penalizes violators of this act up to $500,000 per violation [sec. 5 (e)]. - Establishes the "Global Warming Solutions Fund" which receives funding through a greenhouse gas emissions trading program. The funds will be disbursed as follows (Secs. 6-7):

- Sixty percent to the New Jersey Economic Development Authority to provide grants that will promote energy efficiency. - Twenty percent to the Board of Public Utilities to support programs that help low-income and urban areas with electricity demand. - Ten percent to the Department of Environmental Protection to promote local government efforts to reduce greenhouse gas emissions. - Ten percent to the Department of Environmental Protection to help with restoration of the State's forest and tidal marshes.

- Allows producers of electricity and gas to "decouple," or disassociate their profits acquired through investments in energy efficient and conservation programs from their sales of electricity and gas, thereby aligning the rate of return assigned by the Board of Public Utilities with energy consumption targets [sec. 13 (b)]. - This is a substitute bill offered by the Assembly Appropriations Committee.

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that requires producers of electricity to purchase rights to produce greenhouse gases.

Highlights:

- Penalizes violators of this act up to $500,000 per violation [sec. 5 (e)]. - Establishes the "Global Warming Solutions Fund" which receives funding through a greenhouse gas emissions trading program. The funds will be disbursed as follows (Secs. 6-7):

- Sixty percent to the New Jersey Economic Development Authority to provide grants that will promote energy efficiency. - Twenty percent to the Board of Public Utilities to support programs that help low-income and urban areas with electricity demand. - Ten percent to the Department of Environmental Protection to promote local government efforts to reduce greenhouse gas emissions. - Ten percent to the Department of Environmental Protection to help with restoration of the State's forest and tidal marshes.

- Allows producers of electricity and gas to "decouple," or disassociate their profits acquired through investments in energy efficient and conservation programs from their sales of electricity and gas, thereby aligning the rate of return assigned by the Board of Public Utilities with energy consumption targets [sec. 13 (b)]. - This is a substitute bill offered by the Assembly Appropriations Committee.

Full Bill Text