The bill aims to enhance Washington's climate policy leadership and accountability by transitioning to annual reporting of statewide emissions data. It amends existing laws to emphasize the importance of consistent tracking and annual reporting of greenhouse gas emissions, which will allow the legislature to assess whether the state is on track to meet its emissions reduction goals. The bill establishes a framework for the state to limit and reduce greenhouse gas emissions, participate in regional market-based systems, and ensure a well-trained workforce for the clean energy sector. It also mandates that any revenues generated from market systems be used to support the state's climate goals and address the impacts of global warming.

Key amendments include the requirement for the Department of Ecology and the Department of Commerce to report total greenhouse gas emissions every two years until 2030, and then annually starting in 2031. The bill also updates specific emissions reduction targets, specifying metric ton limits for 2020, 2030, 2040, and 2050, while ensuring that emissions from industrial biomass combustion are not classified as greenhouse gases under certain conditions. Additionally, it outlines provisions for natural gas utilities to receive no-cost allowances, with a focus on benefiting low-income customers and minimizing cost impacts through various support measures.

Statutes affected:
Original Bill: 70A.45.005
Bill as Passed Legislature: 70A.45.005, 70A.65.130
Session Law: 70A.45.005, 70A.65.130