Official Title and Summary
Suspends Air Pollution Control Laws Requiring Major Polluters to Report and Reduce Greenhouse Gas Emissions That Cause Global Warming Until Unemployment Drops To 5.5 Percent or Less for Full Year.
- Suspends State laws requiring reduced greenhouse gas emissions that cause global warming, until California's unemployment rate drops to 5.5 percent or less for four consecutive quarters.
- Requires State to abandon implementation of comprehensive greenhouse-gas-reduction program that includes increased renewable energy and cleaner fuel requirements, and mandatory emission reporting and fee requirements for major polluters such as power plants and oil refineries, until suspension ends.
Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact:
- The suspension of AB 32 could result in a modest net increase in overall economic activity in the state. In this event, there would be an unknown but potentially significant net increase in state and local government revenues.
- Potential loss of a new source of state revenues from the auctioning of emission allowances by state government to certain businesses that would pay for these allowances, by suspending the future implementation of cap-and-trade regulations.
- Lower energy costs for state and local governments than otherwise.
Peace and Freedom Party Position
This dirty energy proposition would essentially repeal California's clean energy legislation. It calls for suspending AB32 until unemployment reaches 5.5% or less for four consecutive quarters — a market condition that has only occurred three times in the last 30 years. Proposition 23 is largely funded by two Texas oil companies, Valero and Tesoro, whose California refineries are major sources of pollution and industrial accidents.
Last Updated on Monday, 25 October 2010 14:09