Suspends New Jersey participation in Regional Greenhouse Gas Initiative; establishes temporary carbon dioxide mitigation fee on energy generation units in New Jersey.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to reduce carbon dioxide emissions in New Jersey by temporarily suspending the state’s involvement in the Regional Greenhouse Gas Initiative (RGGI). It also introduces a new fee on energy generation facilities, specifically those that produce carbon dioxide, to generate revenue for carbon dioxide mitigation efforts. The revenue generated from this fee will be used to fund projects designed to lower greenhouse gas emissions within the state. This action represents a shift in New Jersey’s approach to climate change policy.
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