2016 New Hampshire Revised Statutes
Title X - PUBLIC HEALTH
Chapter 125-O - MULTIPLE POLLUTANT REDUCTION PROGRAM
Section 125-O:21 - Carbon Dioxide Emissions Budget Trading Program.

[RSA 125-O:21 repealed by 2012, 281:11, II, effective as provided by 2012, 281:17.]     125-O:21 Carbon Dioxide Emissions Budget Trading Program. –
    I. The department shall establish and enforce a CO₂ emissions budget trading program consistent with this subdivision that shall be in substantial accordance with the RGGI program.
    II. The program shall include a statewide budget allowance total for each year calculated as follows:

 2014 4,749,011 minus FCPBA 
 2015 4,630,286 minus FCPBA minus SCPBA 
 2016 4,514,529 minus FCPBA minus SCPBA 
 2017 4,401,665 minus FCPBA minus SCPBA 
 2018 4,291,624 minus FCPBA minus SCPBA 
 2019 4,184,333 minus FCPBA minus SCPBA 
 2020 4,079,725 minus FCPBA minus SCPBA 
 2021 and thereafter 4,079,725 

    III. The department shall make available for sale at one or more auctions all of the budget allowances for a given year, except for those granted or reserved under RSA 125-O:22, VI, 125-O:24, and 125-O:25. The department may also make available for sale at one or more auctions a portion of future year budget allowances. Such auctions may be conducted in coordination with other states. Revenues from the sale of allowances shall be deposited in the energy efficiency fund established under RSA 125-O:23.
    III-a. Budget allowances that are required to be made available for sale at auction under paragraph III, but remain unsold, shall not be retired by the department, and may be used for cost containment purposes under RSA 125-O:29.
    IV. The department shall grant to affected CO₂ sources early reduction allowances, at no cost, for projects eligible to receive such allowances.
    V. The department shall grant offset allowances to owners of eligible offset projects located in New Hampshire.
    VI. The department and the commission shall report on an annual basis to the air pollution advisory committee under RSA 125-J:11 and the legislative oversight committee on electric utility restructuring under RSA 374-F:5, on the status of the implementation of RGGI in New Hampshire, with emphasis on the prices and availability of RGGI allowances to affected CO₂ sources, consumer protection mechanisms, and the trends in electric rates for New Hampshire businesses and ratepayers. The report shall include but not be limited to:
       (a) The number of allowances sold in the RGGI program and the type of entities purchasing allowances;
       (b) The number of unsold allowances in the RGGI program;
       (c) The available price data of allowances from the regional auction and secondary markets;
       (d) Market monitoring reports;
       (e) The CO₂ emissions by affected source, state, and RGGI region;
       (f) The spending of revenues from auction allowances by each RGGI state; and
       (g) [Repealed.]
       (h) The status of any proposed or adopted federal CO₂ cap and trade program, the impact on New Hampshire's RGGI program, and recommendations for any proposed legislation necessary to accommodate the federal program; and
       (i) Effectiveness of allowance price control and consumer protection mechanisms, including, but not limited to, offsets, cost containment reserves, cost thresholds, and consumer rebates.
    VII. The department may establish and enforce the CO₂ emissions budget trading program in cooperation and coordination with other states or countries that are participating in regional, national or international CO₂ emissions trading programs with the same or similar purpose including:
       (a) Entering into any agreement or arrangement with the representatives of other states, including the formation of a for-profit or non-profit corporation, any form of association or any other form of organization, in this or another state; and
       (b) Participating in any such corporation, association, or organization, and in any activity in furtherance of the purposes of this subdivision, in any capacity including, but not limited to, as directors or officers.
    VIII. Any actions taken under this subdivision by the department or the commission shall not constitute a waiver of sovereign immunity and shall not be deemed consent to suit outside of New Hampshire.

Source. 2008, 182:2. 2012, 281:3, 10, III. 2013, 236:6-9, eff. Jan. 1, 2014.