S.B.965. Relating to climate protection; prescribing an effective date.

Oregon Senate
Last action 3 years ago
Polls (open):

Sponsors

Senator Steiner Hayward, Michael Dembrow (D), Chuck Riley (D), Rob Nosse (D)

Summary

                    Requires Environmental Quality Commission to adopt greenhouse gas cap-and-dividend program to reduce statewide greenhouse gas emissions to meet certain benchmarks adopted by commission. Establishes auction for allowances under program. Directs certain proceeds from allowances to be deposited in Pollution Refund Credit Trust Fund.

Establishes Pollution Refund Credit Trust Fund. Distributes moneys collected from auction to personal income taxpayers and their dependents in equal shares.

Appropriates moneys from General Fund to Department of Revenue and Environmental Quality Commission for purpose of establishing cap-and-dividend program and funding first year of auction.
                
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                    Aligns greenhouse gas emissions reductions goals for certain other state programs with benchmarks established under cap-and-dividend program.

Takes effect on 91st day following adjournment sine die.
                

In an effort to be an unbiased source of information, all text in this summary comes directly from government resources.

Actions

  • In committee upon adjournment.

    Mon, Jul 6th 2015
  • Referred to Environment and Natural Resources.

    Tue, May 19th 2015
  • Introduction and first reading. Referred to President's desk.

    Thu, May 14th 2015