2023 – Assembly Bill 9 (Muratsuchi, Al), Greenhouse gases: market-based compliance mechanism (2-Year)
Requires CARB to initiate a regulatory process, consistent with statutory requirements for the Cap-and-Trade program, to evaluate potential updates to the market-based compliance mechanism, and regulatory changes shall take effect no later than January 1, 2025. The bill specifies the topics the evaluation shall focus on relating to allowance supply and recommendations by the IEMAC and EJAC. The bill requires CARB, beginning January 1, 2028, in consultation with the IEMAC and EJAC, on a triennial basis to conduct an evaluation of the Cap-and-Trade program focusing on the topics specified in the evaluation. The bill requires the Chair of CARB to appear before the JLCCCP to present the results of the evaluation and any proposed revisions to the Cap-and-Trade regulation and authorizes CARB to revise those regulations afterward to more effectively meet the goals of SB 32 and the most recent Scoping Plan. Moved to the inactive file.