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 and requires the state board to ensure that statewide greenhouse gas emissions are reduced to at least 40% below the 1990 level by 2030. The act, until January 1, 2031, authorizes the state board to adopt a regulation establishing a system of market-based declining aggregate emissions limits for sources or categories of sources that emit greenhouse gases (market-based compliance mechanism) that meets certain requirements. Pursuant to this authority, the state board adopted the California Greenhouse Gas Cap-and-Trade Program.
This bill would state the intent of the Legislature to enact subsequent legislation to reauthorize the California Greenhouse Gas Cap-and-Trade Program.